Franklin Resources (BEN) 10-K 9 Nov 18 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Sep. 30, 2018	Oct. 31, 2018	Mar. 29, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	Franklin Resources Inc
Entity Central Index Key	38,777
Document Type	10-K
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 11
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		513,094,888

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Operating Revenues
Investment management fees	$ 4,367.5	$ 4,359.2	$ 4,471.7
Sales and distribution fees	1,599.8	1,705.6	1,806.4
Shareholder servicing fees	221.9	225.7	243.6
Other	129.9	101.7	96.3
Total operating revenues	6,319.1	6,392.2	6,618
Operating Expenses
Sales, distribution and marketing	2,039.7	2,130.9	2,209.9
Compensation and benefits	1,390.6	1,333.7	1,360.9
Information systems and technology	243.9	219.8	207.3
Occupancy	128.6	121.3	134.1
General, administrative and other	397.7	322.2	340.1
Total operating expenses	4,200.5	4,127.9	4,252.3
Operating Income	2,118.6	2,264.3	2,365.7
Other Income (Expenses)
Investment and other income, net	145.3	336.3	184
Interest expense	(48.7)	(51.5)	(49.9)
Other income, net	96.6	284.8	134.1
Income before taxes	2,215.2	2,549.1	2,499.8
Taxes on income	1,472.5	759.4	742.1
Net income	742.7	1,789.7	1,757.7
Less: net income (loss) attributable to
Nonredeemable noncontrolling interests	(8.9)	40	29.4
Redeemable noncontrolling interests	(12.8)	53	1.6
Net Income Attributable to Franklin Resources, Inc.	$ 764.4	$ 1,696.7	$ 1,726.7
Earnings per Share
Basic	$ 1.39	$ 3.01	$ 2.94
Diluted	1.39	3.01	2.94
Dividends Declared per Share	$ 3.92	$ 0.8	$ 0.72

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net Income	$ 742.7	$ 1,789.7	$ 1,757.7
Other Comprehensive Income (Loss)
Net unrealized gains (losses) on investments, net of tax	4.3	2.2	(12.5)
Currency translation adjustments, net of tax	(91.9)	65.4	(18.3)
Net unrealized gains (losses) on defined benefit plans, net of tax	1.9	2.1	(2.4)
Total other comprehensive income (loss)	(85.7)	69.7	(33.2)
Total comprehensive income	657	1,859.4	1,724.5
Less: comprehensive income (loss) attributable to
Nonredeemable noncontrolling interests	(8.9)	40	29.4
Redeemable noncontrolling interests	(12.8)	53	1.6
Comprehensive Income Attributable to Franklin Resources, Inc.	$ 678.7	$ 1,766.4	$ 1,693.5

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Assets
Cash and cash equivalents	$ 6,910.6	$ 8,749.7
Receivables	733.7	767.8
Investments	1,426.5	1,393.6
Investments, at fair value	551.6	440
Property and equipment, net	535	517.2
Goodwill and other intangible assets, net	2,333.4	2,227.7
Other	220.7	176.5
Total Assets	14,383.5	17,534
Liabilities
Compensation and benefits	405.6	396.6
Accounts payable and accrued expenses	158.9	167.4
Dividends	127.7	113.3
Commissions	297.9	313.3
Income taxes	1,034.8	74.7
Debt	695.9	1,044.2
Deferred taxes	126.5	170.6
Other	184.1	198.7
Total liabilities	3,132	2,656.3
Commitments and Contingencies (Note 12)
Redeemable Noncontrolling Interests	1,043.6	1,941.9
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; 519,122,574 and 554,865,343 shares issued and outstanding at September 30, 2018 and 2017	51.9	55.5
Retained earnings	10,217.9	12,849.3
Accumulated other comprehensive loss	(370.6)	(284.8)
Total Franklin Resources, Inc. stockholders’ equity	9,899.2	12,620
Nonredeemable noncontrolling interests	308.7	315.8
Total stockholders’ equity	10,207.9	12,935.8
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	14,383.5	17,534
Consolidated Investment Products [Member]
Assets
Cash and cash equivalents	299.8	226.4
Receivables	114.2	234.1
Investments, at fair value	2,109.4	3,467.4
Other	1	0.9
Total Assets	2,524.4	3,928.8
Liabilities
Accounts payable and accrued expenses	68	124.1
Debt	32.6	53.4
Other	9.3	8.7
Total liabilities	109.9	186.2
Redeemable Noncontrolling Interests	1,043.6	1,941.9
Stockholders’ Equity
Total Franklin Resources, Inc. stockholders’ equity	1,092.6	1,511.8
Nonredeemable noncontrolling interests	278.3	288.9
Total stockholders’ equity	1,370.9	1,800.7
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	2,524.4	3,928.8
Franklin Resources, Inc. [Member]
Assets
Cash and cash equivalents	$ 6,610.8	$ 8,523.3

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Statement of Financial Position [Abstract]
Investments, at fair value	$ 551.6	$ 440
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	519,122,574	554,865,343
Common stock, shares outstanding	519,122,574	554,865,343

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock [Member]	Capital in Excess of Par Value [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Stockholders' Equity [Member]	Nonredeemable Noncontrolling Interests [Member]
Beginning balance - Shares at Sep. 30, 2015		603.5
Beginning balance at Sep. 30, 2015		$ 60.4	$ 0	$ 12,094.8	$ (314.2)	$ 11,841
Beginning balance at Sep. 30, 2015							$ 654.8
Beginning balance at Sep. 30, 2015	$ 12,495.8
Stockholders' Equity [Roll Forward]
Net income	1,726.7			1,726.7		1,726.7
Nonredeemable noncontrolling interests	29.4
Net income	1,756.1
Other comprehensive income (loss)	(33.2)				(33.2)	(33.2)
Cash dividends declared on common stock	(420.7)			(420.7)		(420.7)
Repurchase of common stock - Shares		(36.6)
Repurchase of common stock - Amount	(1,324.3)	$ (3.7)	(146)	(1,174.6)		(1,324.3)
Issuance of common stock - Shares		3.4
Issuance of common stock - Amount	150.1	$ 0.3	149.8			150.1
Tax shortfall from stock-based compensation	(5.9)		(5.9)			(5.9)
Stock-based compensation	2.1		2.1			2.1
Net (distributions) subscriptions and other	(91.8)						(91.8)
Ending balance - Shares at Sep. 30, 2016		570.3
Ending balance at Sep. 30, 2016		$ 57	0	12,226.2	(347.4)	11,935.8
Ending balance at Sep. 30, 2016							592.4
Ending balance at Sep. 30, 2016	12,528.2
Stockholders' Equity [Roll Forward]
Adoption of new accounting guidance | ASU 2015-02 [Member]	(325.9)			5.8	(7.1)	(1.3)	(324.6)
Net income	1,696.7			1,696.7		1,696.7
Nonredeemable noncontrolling interests	40
Net income	1,736.7
Other comprehensive income (loss)	69.7				69.7	69.7
Cash dividends declared on common stock	(449.9)			(449.9)		(449.9)
Repurchase of common stock - Shares		(19.1)
Repurchase of common stock - Amount	(771.5)	$ (1.9)	(140.1)	(629.5)		(771.5)
Issuance of common stock - Shares		3.7
Issuance of common stock - Amount	134.6	$ 0.4	134.2			134.6
Tax shortfall from stock-based compensation	(8.7)		(8.7)			(8.7)
Stock-based compensation	14.6		14.6			14.6
Net (distributions) subscriptions and other	17.3						17.3
Net consolidation (deconsolidation) of investment products	(9.3)						(9.3)
Ending balance - Shares at Sep. 30, 2017		554.9
Ending balance at Sep. 30, 2017	12,620	$ 55.5	0	12,849.3	(284.8)	12,620
Ending balance at Sep. 30, 2017	315.8						315.8
Ending balance at Sep. 30, 2017	12,935.8
Stockholders' Equity [Roll Forward]
Adoption of new accounting guidance | ASU 2016-09 [Member]	0.4		2.1	(1.6)	(0.1)	0.4
Net income	764.4			764.4		764.4
Nonredeemable noncontrolling interests	(8.9)
Net income	755.5
Other comprehensive income (loss)	(85.7)				(85.7)	(85.7)
Cash dividends declared on common stock	(2,131.3)			(2,131.3)		(2,131.3)
Repurchase of common stock - Shares		(39.9)
Repurchase of common stock - Amount	(1,426.7)	$ (4)	(170.4)	(1,252.3)		(1,426.7)
Issuance of common stock - Shares		3.3
Issuance of common stock - Amount	131.1	$ 0.3	130.8			131.1
Stock-based compensation	10.6		10.6			10.6
Acquisition - Shares		0.8
Acquisition - Amount	27	$ 0.1	26.9			27
Net (distributions) subscriptions and other	(6)						(6)
Net consolidation (deconsolidation) of investment products	2.4						2.4
Purchase of noncontrolling interest	(5.2)			(10.6)		(10.6)	5.4
Ending balance - Shares at Sep. 30, 2018		519.1
Ending balance at Sep. 30, 2018	9,899.2	$ 51.9	$ 0	$ 10,217.9	$ (370.6)	$ 9,899.2
Ending balance at Sep. 30, 2018	308.7						$ 308.7
Ending balance at Sep. 30, 2018	$ 10,207.9

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Net cash provided by operating activities
Net Income	$ 742.7	$ 1,789.7	$ 1,757.7
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of deferred sales commissions	80.7	72	75.2
Depreciation and other amortization	76.4	80.3	87.1
Stock-based compensation	117.8	123.4	131.5
Income from investments in equity method investees	(44.4)	(107.9)	(56.7)
Net losses (gains) on investments of consolidated investment products	8	(55.4)	19.7
Deferred income taxes	(50.6)	8.8	9
Other	33.7	(14.9)	3.8
Changes in operating assets and liabilities:
Decrease (increase) in receivables and other assets	(90.1)	(96.7)	4.2
Decrease (increase) in receivables of consolidated investment products	68.5	(64.3)	(15)
Decrease (increase) in trading securities, net	(39.2)	130.2	120.4
Decrease (increase) in trading securities of consolidated investment products, net	412.7	(875)	(242.3)
Increase (decrease) in accrued compensation and benefits	(19.1)	37.2	(76.7)
Increase (decrease) in commissions payable	(15.4)	11.3	(57.9)
Increase (decrease) in income taxes payable	965.2	44.5	(14)
Decrease in accounts payable, accrued expenses and other liabilities	(23)	(9.2)	(29.2)
Increase in accounts payable and accrued expenses of consolidated investment products	5.8	61.4	10.9
Net cash provided by operating activities	2,229.7	1,135.4	1,727.7
Net cash provided by (used in) investing activities
Purchase of investments	(358.2)	(372.5)	(367.8)
Liquidation of investments	286.2	344.9	405.2
Purchase of investments by consolidated investment products	(73.8)	(114.7)	(333.3)
Liquidation of investments by consolidated investment products	73.3	368.1	597.3
Additions of property and equipment, net	(106.5)	(74.9)	(97.6)
Adoption of new accounting guidance	0	(49.2)	0
Acquisitions, net of cash acquired	(86.8)	(14)	0
Net deconsolidation of investment products	(24.6)	(35.7)	(11.6)
Net cash provided by (used in) investing activities	(290.4)	52	192.2
Net cash used in financing activities
Issuance of common stock	24.8	24.9	24.1
Dividends paid on common stock	(2,116.9)	(441.2)	(408.7)
Repurchase of common stock	(1,424.8)	(765.3)	(1,308)
Excess tax benefit from stock-based compensation	0	0.9	0.8
Payments on debt	(361.9)	(300)	0
Proceeds from loan	0	0	93.4
Payments on loan	0	(53.7)	(41.2)
Proceeds from debt of consolidated investment products	0	20.6	33.8
Payments on debt by consolidated investment products	(21)	(308.5)	(179.8)
Payments on contingent consideration liabilities	(21.6)	(35.3)	(3.2)
Noncontrolling interests	159.7	901.6	(11.9)
Net cash used in financing activities	(3,761.7)	(956)	(1,800.7)
Effect of exchange rate changes on cash and cash equivalents	(16.7)	35	(4)
Increase (decrease) in cash and cash equivalents	(1,839.1)	266.4	115.2
Cash and cash equivalents, beginning of year	8,749.7	8,483.3	8,368.1
Cash and Cash Equivalents, End of Year	6,910.6	8,749.7	8,483.3
Supplemental Disclosure of Cash Flow Information
Cash paid for income taxes	523.5	712.2	758.6
Cash paid for interest	38.6	42.3	47.4
Cash paid for interest by consolidated investment products	$ 2.6	$ 11.2	$ 28.3

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Business. Franklin Resources, Inc. (“Franklin”) is a holding company that, together with its various subsidiaries (collectively, the “Company”) is referred to as Franklin Templeton Investments. The Company provides investment management and related services to investors globally through investment products which include sponsored funds, as well as institutional and high net-worth separate accounts. In addition to investment management, the Company ’ s services include fund administration, sales, distribution, marketing, shareholder servicing and other services. Basis of Presentation. The consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America, which require the use of estimates, judgments and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the periods presented. Management believes that the accounting estimates are appropriate and the resulting balances are reasonable; however, due to the inherent uncertainties in making estimates, actual amounts may differ from these estimates. Certain comparative amounts for prior fiscal years have been reclassified to conform to the financial statement presentation as of and for the fiscal year ended September 30, 2018 (“fiscal year 2018 ”). Consolidation. The consolidated financial statements include the accounts of Franklin and its subsidiaries and consolidated investment products (“CIPs”) in which it has a controlling financial interest. The Company has a controlling financial interest when it owns a majority of the voting interest in a voting interest entity (“VOE”) or is the primary beneficiary of a variable interest entity (“VIE”). Intercompany accounts and transactions have been eliminated. A VIE is an entity in which the equity investment holders have not contributed sufficient capital to finance its activities or do not have defined rights and obligations normally associated with an equity investment. Substantially all of the Company ’ s VIEs are investment products, and its variable interests consist of its equity ownership interests in and investment management fees earned from these products. The Company is the primary beneficiary of a VIE 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”) and the life of the investment product. Related Parties include sponsored funds and equity method investees. A substantial amount of the Company ’ s operating revenues and receivables are from related parties. Earnings per Share . Basic and diluted earnings per share are computed using the two-class method, which considers participating securities as a separate class of shares. The Company ’ s participating securities consist of its nonvested stock and stock unit awards that contain nonforfeitable rights to dividends or dividend equivalents. Basic earnings per share is computed by dividing net income available to the Company ’ s common shareholders, adjusted to exclude earnings allocated to participating securities, by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share is computed on the basis of the weighted-average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period. Fair Value Measurements. The Company uses a three-level fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value based on whether the inputs to those valuation techniques are observable or unobservable. The three levels of fair value hierarchy are set forth below. The assessment of the hierarchy level of the assets or liabilities measured at fair value is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities, which may include published net asset values (“NAV”) for fund products. Level 2 Observable inputs other than Level 1 quoted prices, such as non-binding quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs other than quoted prices that are observable or corroborated by observable market data. Level 2 quoted prices are generally obtained from two independent third-party brokers or dealers, including prices derived from model-based valuation techniques for which the significant assumptions are observable in the market or corroborated by observable market data. Quoted prices are validated through price variance analysis, subsequent sales testing, stale price review, price comparison across pricing vendors and due diligence reviews of third-party vendors. Level 3 Unobservable inputs that are supported by little or no market activity. These inputs require significant management judgment and reflect the Company’s estimation of assumptions that market participants would use in pricing the asset or liability. Quoted market prices may be adjusted if events occur, such as significant price changes in proxies traded in relevant markets after the close of corresponding markets, trade halts or suspensions, or unscheduled market closures. These proxies consist of correlated country-specific exchange-traded securities, such as futures, American Depositary Receipts indices or exchange-traded funds. The price adjustments are primarily determined based on third-party factors derived from model-based valuation techniques for which the significant assumptions are observable in the market. A substantial amount of the Company’s investments are recorded at fair value or amounts that approximate fair value on a recurring basis. Investments in fund products for which fair value is estimated using NAV as a practical expedient (when the NAV is available to the Company as an investor but is not publicly available) are not classified in the fair value hierarchy. Fair values are estimated for disclosure purposes for financial instruments that are not measured at fair value. Cash and Cash Equivalents primarily consist of nonconsolidated sponsored money market funds and deposits with financial institutions. At September 30, 2017, cash and cash equivalents also included debt instruments and time deposits with original maturities of three months or less at the purchase date. Cash and cash equivalents are carried at cost, except for debt instruments which are carried at amortized cost. Due to the short-term nature and liquidity of these financial instruments, their carrying values approximate fair value. The Company maintains cash and cash equivalents with financial institutions in various countries, limits the amount of credit exposure with any given financial institution and conducts ongoing evaluations of the creditworthiness of the financial institutions with which it does business. Receivables consist primarily of fees receivable from investment products and are carried at invoiced amounts. Due to the short-term nature and liquidity of the receivables, their carrying values approximate fair value. Investments consist of investment securities, trading and available-for-sale, investments in equity method investees and other investments. Investment Securities, Trading consist of nonconsolidated sponsored funds, debt and other equity securities, and are carried at fair value. Changes in the fair value of trading securities are recognized as gains and losses in earnings. The fair values of all funds and certain other equity securities are determined based on their published NAV. The fair values of debt and certain other equity securities are determined using independent third-party broker or dealer price quotes or based on discounted cash flows using significant unobservable inputs. At September 30, 2017, investment securities, trading also included corporate debt securities for which the fair value was determined using market pricing. Investment Securities, Available-for-Sale consist primarily of nonconsolidated sponsored funds and to a lesser extent, debt and other equity securities, and are carried at fair value. Realized gains and losses are included in investment income using the average cost method. Unrealized gains and losses are recorded net of tax as part of accumulated other comprehensive income (loss) until realized. The fair value of funds is determined based on their published NAV. The fair value of debt securities is primarily determined using independent third-party broker or dealer price quotes. The fair value of other equity securities is determined using quoted market prices. Investments in Equity Method Investees consist of equity investments in entities, including sponsored funds, over which the Company is able to exercise significant influence, but not control. Significant influence is generally considered to exist when the Company ’ s ownership interest in the investee is between 20% and 50%, although other factors, such as representation on the investee ’ s board of directors and the impact of commercial arrangements, also are considered in determining whether the equity method of accounting is appropriate. Investments in limited partnerships and limited liability companies are accounted for using the equity method when the Company ’ s investment is more than minor or when the Company is the general partner. Under the equity method of accounting, the investments are initially carried at cost and subsequently adjusted by the Company ’ s proportionate share of the entities ’ net income, which is recognized in earnings. Other Investments consist of equity investments in fund products and other entities over which the Company is unable to exercise significant influence and are not marketable, time deposits with maturities greater than three months from the date of purchase, and life settlement contracts. The equity investments are accounted for under the cost method. The fair value of fund products is estimated using NAV as a practical expedient. The fair value of other entities is generally estimated using significant unobservable inputs in either a market-based or income-based approach. The time deposits are carried at cost, which approximates fair value due to their short-term nature and liquidity. Life settlement contracts are carried at fair value, which is determined based on discounted cash flows using significant unobservable inputs. Impairment of Investments. Investments other than trading securities are evaluated for other-than-temporary impairment on a quarterly basis when the cost of an investment exceeds its fair value. The evaluation of equity securities includes the severity and duration of the decline in the fair value below cost, the Company ’ s intent and ability to hold the security for a period of time sufficient for an anticipated recovery in fair value, and the financial condition of and specific events related to the issuer. When an impairment of an equity security is determined to be other-than-temporary, the impairment is recognized in earnings. For debt securities, if the Company intends to sell or it is more likely than not that it will be required to sell a security before recovery of its amortized cost, the entire impairment is recognized in earnings. If the Company does not intend to sell or it is not more likely than not that it will be required to sell the security before anticipated recovery of its amortized cost, the impairment related to credit loss, which is the difference between the security ’ s amortized cost and the present value of its expected cash flows, is recognized in earnings with the remaining loss recognized in accumulated other comprehensive income (loss). Cash and Cash Equivalents of CIPs consist of highly liquid investments, including money market funds, which are readily convertible into cash, and deposits with financial institutions, and are carried at cost. Due to the short-term nature and liquidity of these financial instruments, their carrying values approximate fair value. Receivables of CIPs consist of investment and share transaction related receivables and are carried at transacted amounts. Due to the short-term nature and liquidity of the receivables, their carrying values approximate fair value. Investments of CIPs consist of trading securities and other investments that are not generally traded in active markets, and are carried at fair value. Changes in the fair value of the investments are recognized as gains and losses in earnings. The fair value of trading securities is determined using quoted market prices, or independent third-party broker or dealer price quotes if quoted market prices are not available. The investments that are not generally traded in active markets consist of debt and equity securities of entities in emerging markets and fund products. The fair values of debt and equity securities are determined using significant unobservable inputs in either a market-based or income-based approach. The fair value of fund products is estimated using NAV as a practical expedient. Property and Equipment, net are recorded at cost and depreciated using the straight-line method over their estimated useful lives which range from three to 35 years. Expenditures for repairs and maintenance are charged to expense when incurred. Leasehold improvements are amortized using the straight-line method over their estimated useful lives or the lease term, whichever is shorter. Internal and external costs incurred in connection with developing or obtaining software for internal use are capitalized and amortized over the shorter of the estimated useful lives of the software or the license terms, beginning when the software project is complete and the application is put into production. Property and equipment is tested for impairment when there is an indication that the carrying value of an asset may not be recoverable. Carrying values are not recoverable when the undiscounted cash flows estimated to be generated by the assets are less than their carrying values. When an asset is determined to not be recoverable, the impairment is measured based on the excess, if any, of the carrying value of the asset over its respective fair value. Fair value is determined by discounted future cash flows models, appraisals or other applicable methods. Goodwill and Other Intangible Assets, net . Goodwill represents the excess cost of a business acquisition over the fair value of the net assets acquired. Other intangible assets consist of investment management contracts acquired in business acquisitions. These intangible assets are amortized over their estimated useful lives, which range from three to 15 years, using the straight-line method, unless the asset is determined to have an indefinite useful life. Indefinite-lived intangible assets represent contracts to manage investment assets for which there is no foreseeable limit on the contract period. Goodwill and indefinite-lived intangible assets are tested for impairment annually as of August 1 and when an event occurs or circumstances change that more likely than not reduce the fair value of the related reporting unit or indefinite-lived intangible asset below its carrying value. The Company has one reporting unit, investment management and related services, consistent with its single operating segment, to which all goodwill has been assigned. Goodwill and indefinite-lived intangible assets may first be assessed for qualitative factors to determine whether it is necessary to perform a quantitative impairment test. The qualitative analysis considers entity-specific and macroeconomic factors and their potential impact on the key assumptions used in the determination of the fair value of the reporting unit or indefinite-lived intangible asset. A quantitative impairment test is performed if the results of the qualitative assessment indicate that it is more likely than not that the fair value of the reporting unit is less than its carrying value or an indefinite-lived intangible asset is impaired, or if a qualitative assessment is not performed. The quantitative goodwill impairment test involves a two-step process. The first step compares the fair value of the reporting unit to its carrying value. If the carrying value is less than the fair value, no impairment exists and the second step is not performed. If the carrying value is higher than the fair value, there is an indication that impairment may exist and the second step is performed to compute the amount of any impairment by comparing the implied fair value of the reporting unit goodwill with the carrying value of the goodwill. The quantitative indefinite-lived intangible assets impairment test compares the fair value of an asset to its carrying value. If the carrying value is higher than the fair value, impairment is recognized in the amount of the difference in values. The fair values of the reporting unit and indefinite-lived intangible assets are based on the net present value of estimated future cash flows, which include assumptions about the AUM growth rate, pre-tax profit margin, average effective fee rate, effective tax rate and discount rate, which is based on the Company ’ s weighted average cost of capital. Definite-lived intangible assets are tested for impairment quarterly. Impairment is indicated when the carrying value of an asset is not recoverable and exceeds its fair value. Recoverability is evaluated based on estimated undiscounted future cash flows using assumptions about AUM growth, average effective fee rates, the pre-tax profit margin and expected useful lives. If the carrying value of an asset is not recoverable through undiscounted cash flows, impairment is recognized in the amount by which the carrying value exceeds the asset’s fair value, as determined by discounted cash flows or other methods as appropriate for the asset type. Impairment is recognized in general, administrative and other expense. Deferred Sales Commissions consist of up-front commissions paid to financial advisers and broker-dealers on shares of sponsored funds sold without a front-end sales charge to investors, and are amortized over the periods in which they are generally recovered from related revenues, which range from one to seven years. Deferred sales commissions are included in other assets in the consolidated balance sheet. Debt consists of senior notes which are carried at amortized cost. The fair value is estimated using quoted market prices, independent third-party broker or dealer price quotes, or prices of publicly traded debt with similar maturities, credit risk and interest rates. Debt of CIPs is carried at amortized cost. The fair value is estimated using a discounted cash flow model that considers current interest rate levels, the quality of the underlying collateral and current economic conditions. Contingent Consideration Liability consists of the expected future payments related to the Company’s commitment to acquire the remaining interests in K2 Advisors Holdings, LLC (“K2”) and is included in other liabilities in the consolidated balance sheet. The liability is carried at fair value, determined using the net present value of anticipated future cash flows based on estimated future revenue and profits and timing of payments. Noncontrolling Interests relate almost entirely to CIPs. Noncontrolling interests that are currently redeemable or convertible for cash or other assets at the option of the holder are classified as temporary equity. Nonredeemable noncontrolling interests are classified as a component of equity. Net income (loss) attributable to third-party investors is reflected as net income (loss) attributable to nonredeemable and redeemable noncontrolling interests in the consolidated statements of income. Sales and redemptions of shares of CIPs by third-party investors are a component of the change in noncontrolling interests included in financing activities in the consolidated statements of cash flows. Revenues . Fees from providing investment management and fund administration services (“investment management fees”), distribution fees and shareholder servicing fees are recognized as earned, over the period in which services are rendered, except for performance-based investment management fees which are recognized when earned. Sales commissions related to the sale of shares of sponsored funds are recognized on trade date. Investment management fees, other than performance-based fees, and distribution fees are determined based on a percentage of AUM, primarily on a monthly basis using average daily AUM. Performance-based investment management fees are based on performance targets established in the related investment management contracts. Shareholder servicing fees are based on factors such as AUM, transactions, and shareholder accounts established in the related service contracts. AUM is generally based on the fair value of the underlying securities held by the Company’s investment products and is calculated using fair value methods derived primarily from unadjusted quoted market prices, unadjusted independent third-party broker or dealer price quotes in active markets, or market prices or price quotes adjusted for observable price movements after the close of the primary market. The fair values of securities for which market prices are not readily available are internally valued using various methodologies which incorporate significant unobservable inputs as appropriate for each security type and represent an insignificant percentage of total AUM. Pricing of the securities is governed by the Company ’ s global valuation and pricing policy, which defines valuation and pricing conventions for each security type, including practices for responding to unexpected or unusual market events. Sales commissions and distribution fees are recorded gross of sales and distribution expenses paid to financial advisers and other intermediaries as the Company acts as the principal in its role as primary obligor to the sales and distribution agreements. Stock-Based Compensation. The fair value of share-based payment awards is estimated on the date of grant based on the market price of the underlying shares of the Company ’ s common stock and is amortized to compensation expense on a straight-line basis over the related vesting period, which is generally three years. Expense relating to awards subject to performance conditions is recognized if it is probable that the conditions will be achieved. The probability of achievement is assessed on a quarterly basis. Forfeitures are accounted for as they occur. Postretirement Benefits . Defined contribution plan costs are expensed as incurred. Income Taxes. Deferred tax assets and liabilities are recorded for temporary differences between the tax basis of assets and liabilities and the reported amounts in the consolidated financial statements using the statutory tax rates in effect for the year when the reported amount of the asset or liability is expected to be recovered or settled, respectively. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income tax expense in the period that includes the enactment date. A valuation allowance is recorded to reduce the carrying values of deferred tax assets to the amount that is more likely than not to be realized. For each tax position taken or expected to be taken in a tax return, the Company determines whether it is more likely than not that the position will be sustained upon examination based on the technical merits of the position, including resolution of any related appeals or litigation. A tax position that meets the more likely than not recognition threshold is measured at the largest amount of benefit that is greater than 50% likely of being realized upon settlement. Interest on tax matters is recognized in interest expense and penalties in other operating expenses. As a multinational corporation, the Company operates in various locations outside the U.S. and generates earnings from its non-U.S. subsidiaries. Prior to enactment of the Tax Cuts and Jobs Act (the “Tax Act”) in December 2017, the Company indefinitely reinvested the undistributed earnings of all its non-U.S. subsidiaries, except for income previously taxed in the U.S. or subject to regulatory or legal repatriation restrictions or requirements. Effective January 1, 2018, the Company intends to repatriate the earnings in excess of regulatory, capital or operational requirements of substantially all of its non-U.S. subsidiaries. Foreign Currency Translation and Transactions. Assets and liabilities of non-U.S. subsidiaries for which the local currency is the functional currency are translated at current exchange rates as of the end of the accounting period. The related revenues and expenses are translated at average exchange rates in effect during the period. Net exchange gains and losses resulting from translation are excluded from income and are recorded as part of accumulated other comprehensive income (loss). Transactions denominated in a foreign currency are revalued at the current exchange rate at the transaction date and any related gains and losses are recognized in earnings.

New Accounting Guidance

New Accounting Guidance	12 Months Ended
	Sep. 30, 2018
Accounting Changes and Error Corrections [Abstract]
New Accounting Guidance	New Accounting Guidance Recently Adopted Accounting Guidance On October 1, 2017, the Company adopted an amendment to the stock-based compensation guidance issued by the Financial Accounting Standards Board (“FASB”). 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 made using the modified retrospective approach which did not require the restatement of prior-year periods and did not result in a material impact on retained earnings. The income tax effect and statement of cash flow changes were adopted on a prospective basis. The adoption of the amendment will increase the volatility of income tax expense as a result of fluctuations in the Company’s stock price. Accounting Guidance Not Yet Adopted 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 Company’s adoption of the guidance on October 1, 2018 will not have a significant impact on the timing of recognition or presentation for substantially all of its operating revenue or the accounting for its contract costs. The Company will elect the modified retrospective approach and recognize a cumulative effect adjustment resulting in decreases of approximately $9 million in total assets and retained earnings at adoption. 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 and investments in fund products for which fair value is estimated using NAV as a practical expedient. The amendment also provides an election to measure equity investments that do not have a readily determinable fair value at cost adjusted for observable price changes and impairment, if any, which the Company will make. The Company will adopt the amendment on October 1, 2018 and recognize a cumulative effect adjustment resulting in increases in investments, retained earnings and other comprehensive loss of approximately $22 million , $30 million and $8 million . The FASB issued new guidance for the accounting for leases in February 2016. The new guidance requires lessees to recognize assets and liabilities arising from substantially all leases. The guidance also requires an evaluation at the inception of a contract to determine whether the contract is or contains a lease. The guidance is effective for the Company on October 1, 2019 and requires a cumulative effect adjustment to retained earnings either on the date of adoption or at the beginning of the earliest period presented. The Company is currently evaluating the impact of adopting the guidance and has not yet determined its transition approach. The FASB issued new guidance for the accounting for credit losses in June 2016. The new guidance requires the application of a current expected credit loss model for financial assets measured at amortized cost, including receivables, and an allowance for credit loss model for available-for-sale debt securities. The guidance is effective for the Company on October 1, 2020 and requires a cumulative effect adjustment to retained earnings at adoption. The Company is currently evaluating the impact of adopting the guidance.

Earnings per Share

Earnings per Share	12 Months Ended
	Sep. 30, 2018
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) for the fiscal years ended September 30, 2018 2017 2016 Net income attributable to Franklin Resources, Inc. $ 764.4 $ 1,696.7 $ 1,726.7 Less: allocation of earnings to participating nonvested stock and stock unit awards 17.6 12.4 10.9 Net Income Available to Common Stockholders $ 746.8 $ 1,684.3 $ 1,715.8 Weighted-average shares outstanding – basic 537.4 558.8 583.8 Dilutive effect of nonparticipating nonvested stock unit awards 0.6 0.3 — Weighted-Average Shares Outstanding – Diluted 538.0 559.1 583.8 Earnings per Share Basic $ 1.39 $ 3.01 $ 2.94 Diluted 1.39 3.01 2.94 Nonparticipating nonvested stock unit awards excluded from the calculation of diluted earnings per share because their effect would have been antidilutive were 0.3 million for fiscal year 2018 , 0.7 million for the fiscal year ended September 30, 2017 (“fiscal year 2017 ”), and 1.3 million for the fiscal year ended September 30, 2016 (“fiscal year 2016 ”).

Investments

Investments	12 Months Ended
	Sep. 30, 2018
Investments [Abstract]
Investments	Investments The disclosures below include details of the Company’s investments, excluding those of CIPs. See Note 9 – Consolidated Investment Products for information related to the investments held by these entities. Investments consisted of the following: (in millions) as of September 30, 2018 2017 Investment securities, trading Sponsored funds $ 248.1 $ 31.1 Debt and other equity securities 97.6 283.4 Total investment securities, trading 345.7 314.5 Investment securities, available-for-sale Sponsored funds 178.6 110.8 Debt and other equity securities 15.5 1.9 Total investment securities, available-for-sale 194.1 112.7 Investments in equity method investees 780.8 893.5 Other investments 105.9 72.9 Total $ 1,426.5 $ 1,393.6 Debt and other equity trading securities consist primarily of corporate debt. Investment securities with aggregate carrying amounts of $1.2 million and $0.8 million were pledged as collateral at September 30, 2018 and 2017 . Gross unrealized gains and losses relating to investment securities, available-for-sale were as follows: Gross Unrealized (in millions) Cost Basis Gains Losses Fair Value as of September 30, 2018 Sponsored funds $ 172.9 $ 8.3 $ (2.6 ) $ 178.6 Debt and other equity securities 16.8 0.5 (1.8 ) 15.5 Total $ 189.7 $ 8.8 $ (4.4 ) $ 194.1 as of September 30, 2017 Sponsored funds $ 107.9 $ 9.4 $ (6.5 ) $ 110.8 Debt and other equity securities 1.9 — — 1.9 Total $ 109.8 $ 9.4 $ (6.5 ) $ 112.7 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 Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in millions) as of September 30, 2018 Sponsored funds $ 48.8 $ (2.1 ) $ 21.0 $ (0.5 ) $ 69.8 $ (2.6 ) Debt and other equity securities 10.9 (1.8 ) — — 10.9 (1.8 ) Total $ 59.7 $ (3.9 ) $ 21.0 $ (0.5 ) $ 80.7 $ (4.4 ) as of September 30, 2017 Sponsored funds $ 28.4 $ (6.3 ) $ 2.4 $ (0.2 ) $ 30.8 $ (6.5 ) The Company recognized other-than-temporary impairment of $1.7 million , $0.8 million and $11.1 million during fiscal years 2018 , 2017 and 2016 , of which $5.8 million in fiscal year 2016 related to available-for-sale sponsored funds.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Sep. 30, 2018
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 CIPs. See Note 9 – Consolidated Investment Products for information related to fair value measurements of the assets and liabilities of these entities. The assets and liability measured at fair value on a recurring basis were as follows: (in millions) Level 1 Level 2 Level 3 Total as of September 30, 2018 Assets Investment securities, trading Sponsored funds $ 248.1 $ — $ — $ 248.1 Debt and other equity securities 26.6 50.5 20.5 97.6 Investment securities, available-for-sale Sponsored funds 178.6 — — 178.6 Debt and other equity securities 4.4 10.8 0.3 15.5 Life settlement contracts — — 11.8 11.8 Total Assets Measured at Fair Value $ 457.7 $ 61.3 $ 32.6 $ 551.6 Liability Contingent consideration liability $ — $ — $ 38.7 $ 38.7 (in millions) Level 1 Level 2 Level 3 Total as of September 30, 2017 Assets Investment securities, trading Sponsored funds $ 31.1 $ — $ — $ 31.1 Debt and other equity securities 18.2 78.4 186.8 283.4 Investment securities, available-for-sale Sponsored funds 110.8 — — 110.8 Debt and other equity securities 1.0 0.6 0.3 1.9 Life settlement contracts — — 12.8 12.8 Total Assets Measured at Fair Value $ 161.1 $ 79.0 $ 199.9 $ 440.0 Liability Contingent consideration liability $ — $ — $ 51.0 $ 51.0 Changes in Level 3 assets and liabilities were as follows: 2018 2017 (in millions) Investments Contingent Consideration Liability Investments Contingent Consideration Liabilities for the fiscal years ended September 30, Balance at beginning of year $ 199.9 $ (51.0 ) $ 205.1 $ (98.1 ) Acquisition — — — (5.7 ) Total realized and unrealized gains (losses) Included in investment and other income, net 4.5 — 8.5 — Included in general, administrative and other expense — (13.1 ) — 13.8 Purchases 14.5 — 5.4 — Sales (2.6 ) — (17.7 ) — Settlements (174.0 ) 32.4 (4.8 ) 39.0 Transfers out of Level 3 — — (0.4 ) — Foreign exchange revaluation and other (9.7 ) (7.0 ) 3.8 — Balance at End of Year $ 32.6 $ (38.7 ) $ 199.9 $ (51.0 ) Change in unrealized gains (losses) included in net income relating to assets and liability held at end of year $ 2.1 $ (13.1 ) $ 6.0 $ 8.1 There were no transfers into or out of Level 3 during fiscal year 2018 . There were no transfers into Level 3 during fiscal year 2017 . Valuation techniques and significant unobservable inputs used in the Level 3 fair value measurements were as follows: (in millions) as of September 30, 2018 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average) Investment securities, trading – debt and other equity securities $ 20.5 Discounted cash flow Discount rate 4.1%–12.3% (5.8%) Risk premium 2.0%–6.7% (3.6%) Life settlement contracts 11.8 Discounted cash flow Life expectancy 20–115 months (61) Discount rate 8.0%–20.0% (13.1%) Contingent consideration liability 38.7 Discounted cash flow Discount rate 13.0% (in millions) as of September 30, 2017 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average) Investment securities, trading – debt and other equity securities $ 175.7 Market pricing Redemption price $73 per $100 of par Discount rate 18.6% 11.1 Discounted cash flow Discount rate 4.1%–6.7% (5.7%) Risk premium 2.0%–4.1% (2.9%) Life settlement contracts 12.8 Discounted cash flow Life expectancy 20–123 months (62) Discount rate 8.0%–20.0% (13.2%) Contingent consideration liability 51.0 Discounted cash flow AUM growth rate 1.3%–9.4% (5.3%) Discount rate 14.6% For investment securities, trading – debt and other equity securities using the discounted cash flow technique, a significant increase (decrease) in the discount rate or risk premium 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 the contingent consideration liability, a significant 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) 2018 2017 as of September 30, Fair Value Level Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Assets Cash and cash equivalents 1 $ 6,610.8 $ 6,610.8 $ 8,523.3 $ 8,523.3 Other investments Time deposits 2 12.3 12.3 13.4 13.4 Cost method investments 3 81.8 103.6 46.7 67.7 Financial Liability Debt 2 $ 695.9 $ 671.1 $ 1,044.2 $ 1,073.5

Property and Equipment

Property and Equipment	12 Months Ended
	Sep. 30, 2018
Property, Plant and Equipment, Net [Abstract]
Property and Equipment	Property and Equipment Property and equipment, net consisted of the following: (in millions) Useful Lives In Years as of September 30, 2018 2017 Furniture, software and equipment $ 798.6 $ 804.7 3 – 10 Premises and leasehold improvements 628.1 580.9 5 – 35 Land 74.1 74.2 N/A Total cost 1,500.8 1,459.8 Less: accumulated depreciation and amortization (965.8 ) (942.6 ) Property and Equipment, Net $ 535.0 $ 517.2 Depreciation and amortization expense related to property and equipment was $78.9 million , $81.5 million and $81.0 million in fiscal years 2018 , 2017 and 2016 . The Company recognized $6.6 million of equipment impairment during fiscal year 2018 and insignificant impairment amounts during fiscal years 2017 and 2016 .

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill and other intangible assets, net consisted of the following: (in millions) as of September 30, 2018 2017 Goodwill $ 1,794.8 $ 1,687.2 Indefinite-lived intangible assets 530.7 534.0 Definite-lived intangible assets, net 7.9 6.5 Goodwill and Other Intangible Assets, Net $ 2,333.4 $ 2,227.7 Changes in the carrying value of goodwill were as follows: (in millions) for the fiscal years ended September 30, 2018 2017 Balance at beginning of year $ 1,687.2 $ 1,661.2 Acquisitions 117.4 18.8 Foreign exchange revaluation and other (9.8 ) 7.2 Balance at End of Year $ 1,794.8 $ 1,687.2 Indefinite-lived intangible assets consist of management contracts. No impairment of goodwill or indefinite-lived intangible assets was recognized during fiscal years 2018 , 2017 and 2016 . Definite-lived intangible assets were as follows: 2018 2017 (in millions) Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value as of September 30, Management contracts $ 54.9 $ (47.0 ) $ 7.9 $ 52.4 $ (45.9 ) $ 6.5 Amortization expense related to definite-lived intangible assets was $1.8 million , $3.9 million and $10.4 million for fiscal years 2018 , 2017 and 2016 . The Company recognized impairment of management contract definite-lived intangible assets of $5.7 million , $9.6 million and $28.2 million during fiscal years 2018 , 2017 and 2016 . The impairments were primarily related to assets from the K2 acquisition and resulted from increased investor redemptions; lower estimates of future sales and renegotiations of certain investment management fees were also a factor in fiscal year 2016. Definite-lived intangible assets had a weighted-average remaining useful life of 2.8 years at September 30, 2018 , with estimated remaining amortization expense as follows: (in millions) for the fiscal years ending September 30, Amount 2019 $ 3.0 2020 3.0 2021 1.8 Thereafter 0.1 Total $ 7.9

Debt

Debt	12 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Debt	Debt The disclosures below include details of the Company’s debt, excluding that of CIPs. See Note 9 – Consolidated Investment Products for information related to the debt of these entities. Debt consisted of the following: (in millions) 2018 Effective Interest Rate 2017 Effective Interest Rate as of September 30, Senior Notes $350 million 4.625% notes due May 2020 $ — N/A $ 349.9 4.74 % $300 million 2.800% notes due September 2022 299.7 2.93 % 299.6 2.93 % $400 million 2.850% notes due March 2025 399.6 2.97 % 399.5 2.97 % Total senior notes 699.3 1,049.0 Debt issuance costs (3.4 ) (4.8 ) Total $ 695.9 $ 1,044.2 At September 30, 2018 , the Company’s outstanding senior unsecured unsubordinated notes had an aggregate face value of $700.0 million . The notes have fixed interest rates with interest payable semi-annually and contain an optional redemption feature that allows the Company to redeem each series of notes prior to maturity in whole or in part at any time, at a make-whole redemption price. The indentures governing the notes contain limitations on the Company’s ability and the ability of its subsidiaries to pledge voting stock or profit participating equity interests in its subsidiaries to secure other debt without similarly securing the notes equally and ratably. The indentures also include requirements that must be met if the Company consolidates or merges with, or sells all or substantially all of its assets to, another entity. On May 21, 2018 , the Company redeemed its outstanding 4.625% notes due in May 2020 at a make-whole redemption price of $361.9 million , which resulted in the recognition of $12.5 million of accelerated interest expense. The Company was in compliance with all debt covenants at September 30, 2018 . At September 30, 2018 , the Company had $500.0 million of short-term commercial paper available for issuance under an uncommitted private placement program which has been inactive since 2012 .

Consolidated Investment Product

Consolidated Investment Products	12 Months Ended
	Sep. 30, 2018
Consolidated Investment Products [Abstract]
Consolidated Investment Products	Consolidated Investment Products CIPs consist of mutual and other investment funds, limited partnerships and similar structures, substantially all of which are sponsored by the Company, and include both VOEs and VIEs. The Company had 53 and 58 CIPs as of September 30, 2018 and 2017 . The balances related to CIPs included in the Company’s consolidated balance sheets were as follows: (in millions) as of September 30, 2018 2017 Assets Cash and cash equivalents $ 299.8 $ 226.4 Receivables 114.2 234.1 Investments, at fair value 2,109.4 3,467.4 Other assets 1.0 0.9 Total Assets $ 2,524.4 $ 3,928.8 Liabilities Accounts payable and accrued expenses $ 68.0 $ 124.1 Debt 32.6 53.4 Other liabilities 9.3 8.7 Total liabilities 109.9 186.2 Redeemable Noncontrolling Interests 1,043.6 1,941.9 Stockholders ’ Equity Franklin Resources, Inc.’s interests 1,092.6 1,511.8 Nonredeemable noncontrolling interests 278.3 288.9 Total stockholders’ equity 1,370.9 1,800.7 Total Liabilities, Redeemable Noncontrolling Interests and Stockholders ’ Equity $ 2,524.4 $ 3,928.8 The CIPs did not have a significant impact on net income attributable to the Company in fiscal years 2018 , 2017 and 2016 . The Company has no right to the CIPs’ assets, other than its direct equity investments in them and investment management fees earned from them. The debt holders of the CIPs 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 CIPs’ liabilities. Investment products 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 these products 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 product and the Company’s role and level of ownership. Investments Investments of CIPs consisted of the following: (in millions) as of September 30, 2018 2017 Investment securities, trading $ 1,651.8 $ 3,017.2 Other equity securities 311.0 306.9 Other debt securities 146.6 143.3 Total $ 2,109.4 $ 3,467.4 Investment securities, trading consist of debt and equity securities that are traded in active markets. Other equity securities consist of equity securities of entities in emerging markets and fund products. Other debt securities consist of debt securities of entities in emerging markets and other debt instruments. Fair Value Measurements Assets and liabilities of CIPs 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 September 30, 2018 Assets Investments Equity securities $ 270.7 $ 154.8 $ 199.7 $ 113.8 $ 739.0 Debt securities 0.6 1,219.5 150.3 — 1,370.4 Total Assets Measured at Fair Value $ 271.3 $ 1,374.3 $ 350.0 $ 113.8 $ 2,109.4 Liabilities Other liabilities $ 0.6 $ 8.7 $ — $ — $ 9.3 (in millions) Level 1 Level 2 Level 3 NAV as a Practical Expedient Total as of September 30, 2017 Assets Investments Equity securities $ 331.4 $ 128.1 $ 160.7 $ 155.2 $ 775.4 Debt securities 1.4 2,555.2 135.4 — 2,692.0 Total Assets Measured at Fair Value $ 332.8 $ 2,683.3 $ 296.1 $ 155.2 $ 3,467.4 Liabilities Other liabilities $ 0.4 $ 8.3 $ — $ — $ 8.7 The fair value of other liabilities, which consist of short positions in debt and equity securities, is determined based on the fair value of the underlying securities using quoted market prices, or independent third-party broker or dealer price quotes if quoted market prices are not available. There were no transfers into or out of Level 3 during fiscal years 2018 and 2017 . Investments for which fair value was estimated using reported NAV as a practical expedient consisted of nonredeemable real estate and private equity funds. These investments are expected to be returned through distributions as a result of liquidations of the funds’ underlying assets over a weighted-average period of 3.5 years and 4.4 years at September 30, 2018 and 2017 . The CIPs’ unfunded commitments to these funds totaled $1.9 million , of which the Company was contractually obligated to fund $0.4 million based on its ownership percentage in the CIPs, at both September 30, 2018 and 2017 . Changes in Level 3 assets were as follows: 2018 2017 (in millions) Equity Securities Debt Securities Total Level 3 Assets Equity Securities Debt Securities Total Level 3 Assets for the fiscal years ended September 30, Balance at beginning of year $ 160.7 $ 135.4 $ 296.1 $ 160.3 $ 132.3 $ 292.6 Adoption of new accounting guidance — — — (45.4 ) (0.5 ) (45.9 ) Realized and unrealized gains (losses) included in investment and other income, net 26.2 4.2 30.4 19.2 (0.3 ) 18.9 Purchases 32.0 42.2 74.2 30.4 24.7 55.1 Sales (17.5 ) (38.6 ) (56.1 ) (6.7 ) (22.3 ) (29.0 ) Settlements — (0.5 ) (0.5 ) — (0.6 ) (0.6 ) Consolidation — 7.0 7.0 — — — Foreign exchange revaluation (1.7 ) 0.6 (1.1 ) 2.9 2.1 5.0 Balance at End of Year $ 199.7 $ 150.3 $ 350.0 $ 160.7 $ 135.4 $ 296.1 Change in unrealized gains (losses) included in net income relating to assets held at end of year $ 17.3 $ 0.1 $ 17.4 $ 29.4 $ (0.9 ) $ 28.5 Valuation techniques and significant unobservable inputs used in Level 3 fair value measurements were as follows: (in millions) as of September 30, 2018 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average) Equity securities $ 171.9 Market comparable companies EBITDA multiple 5.0–13.6 (9.3) 27.8 Discounted cash flow Discount rate 8.0%–16.5% (14.1%) Debt securities 78.7 Discounted cash flow Discount rate 7.0%–14.8% (10.8%) 33.9 Comparable trading multiple Price-to-earnings ratio 10.0 Enterprise value/ EBITDA multiple 20.9 32.3 Discounted cash flow Loss-adjusted discount rate 3.0%–22.7% (12.0%) 5.4 Market pricing Private sale pricing $42 per $100 of par (in millions) as of September 30, 2017 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average) Equity securities $ 101.9 Market comparable companies EBITDA multiple 5.5–12.3 (9.0) 44.4 Discounted cash flow Discount rate 5.7%–17.9% (14.3%) 14.4 Market pricing Price-to-earnings ratio 10.0 Debt securities 112.7 Discounted cash flow Discount rate 5.0%–33.0% (9.5%) Risk premium 0.0%–25.0% (8.4%) 22.7 Market pricing Private sale pricing $33–$57 ($52) per $100 of par For securities using 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. For securities using the discounted cash flow valuation technique, a significant increase (decrease) in the discount rate or loss-adjusted discount rate in isolation would result in a significantly lower (higher) fair value measurement. For securities using the comparable trading multiple valuation technique, a significant increase (decrease) in the price-to-earnings ratio or enterprise value/EBITDA multiple in isolation would result in a significantly higher (lower) fair value measurement. For securities using the market pricing valuation technique, a significant increase (decrease) in the private sale pricing in isolation would result in a significantly higher (lower) fair value measurement. Financial instruments of CIPs that were not measured at fair value were as follows: (in millions) 2018 2017 as of September 30, Fair Value Level Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Asset Cash and cash equivalents 1 $ 299.8 $ 299.8 $ 226.4 $ 226.4 Financial Liability Debt 3 $ 32.6 $ 32.4 $ 53.4 $ 53.1 Debt Debt of CIPs totaled $32.6 million and $53.4 million at September 30, 2018 and 2017 . The debt had fixed and floating interest rates ranging from 3.07% to 7.88% with a weighted-average effective interest rate of 6.79% at September 30, 2018 , and from 2.84% to 6.75% with a weighted-average effective interest rate of 5.15% at September 30, 2017 . The debt carried at September 30, 2018 matures in fiscal year 2019 . Redeemable Noncontrolling Interests Changes in redeemable noncontrolling interests of CIPs were as follows: (in millions) for the fiscal years ended September 30, 2018 2017 2016 Balance at beginning of year $ 1,941.9 $ 61.1 $ 59.6 Adoption of new accounting guidance — 824.7 — Net income (loss) (12.8 ) 53.0 1.6 Net subscriptions and other 170.9 884.3 79.9 Net consolidations (deconsolidations) (1,056.4 ) 118.8 (80.0 ) Balance at End of Year $ 1,043.6 $ 1,941.9 $ 61.1

Nonconsolidated Variable Intere

Nonconsolidated Variable Interest Entities	12 Months Ended
	Sep. 30, 2018
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 sponsored funds 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) as of September 30, 2018 2017 Investments $ 161.8 $ 129.3 Receivables 140.1 155.6 Total $ 301.9 $ 284.9 While the Company has no contractual obligation to do so, it routinely makes cash investments in the course of launching sponsored funds. The Company also may voluntarily elect to provide its sponsored funds with additional direct or indirect financial support based on its business objectives. In July 2018 , the Company purchased $32.6 million of certain equity and debt securities from two sponsored funds. The Company did not provide financial or other support to its sponsored funds during fiscal year 2017 .

Taxes on Income

Taxes on Income	12 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Taxes on Income	Taxes on Income The Tax Act, which was enacted into law in the U.S. on December 22, 2017, includes various changes to the tax law, including a permanent reduction in the federal corporate income tax rate and assessment of a one-time transition tax on the deemed repatriation of post-1986 undistributed foreign subsidiaries’ earnings. The Company’s transition tax expense was estimated to be $983.2 million as of September 30, 2018 and may be adjusted in the future upon issuance of additional technical guidance, legislative updates from states on tax reform, and the completion of the Company’s tax return filings for fiscal years 2017 and 2018 . The estimate includes an $87.6 million tax benefit recognized in the fourth quarter of fiscal year 2018 related to U.S. taxation of deemed foreign dividends in the transition fiscal year. This benefit may be reduced or eliminated by future regulation or legislation. The federal portion of the transition tax liability, estimated to be $965.3 million , will be paid over eight years beginning in January 2019, with 8% of the liability payable in each of the first five years, 15% in year six, 20% in year seven and 25% in year eight. The Tax Act reduced the federal corporate income tax rate from 35% to 21% effective January 1, 2018 . The Company’s federal statutory rate for fiscal year 2018 is a blended rate of 24.5% , based on the pre- and post-Tax Act rates, and will be 21% for future fiscal years. The estimated related changes in the Company’s deferred tax assets and deferred tax liabilities resulted in a $35.6 million decrease in deferred tax assets, an $88.9 million decrease in deferred tax liabilities and a $53.3 million net tax benefit in fiscal year 2018 . The Company also reclassified $0.1 million from accumulated other comprehensive loss to retained earnings related to stranded tax effects resulting from the change in tax rate during fiscal year 2018 . As of September 30, 2018 , the Company completed its analysis of the Tax Act impact except for the transition tax, which is expected to be completed within one year of the Tax Act enactment date. Prior to the Tax Act, the Company had not provided for U.S. income taxes on undistributed earnings and other outside basis differences of its non-U.S. subsidiaries as it was the Company’s intention for these tax basis differences to remain indefinitely reinvested. Following the Company’s change in policy effective January 1, 2018 to repatriate earnings of substantially all non-U.S. subsidiaries, other outside basis differences, which arose primarily from purchase accounting adjustments, undistributed earnings that are considered indefinitely reinvested and foreign earnings that are restricted by operational and regulatory requirements, remain indefinitely reinvested. These basis differences could reverse through sales of the subsidiaries or the receipt of dividends from the subsidiaries, as well as various other events, none of which are considered probable as of September 30, 2018 . The Company has made no provision for U.S. income taxes on these outside basis differences, and determination of the amount of unrecognized deferred tax liability related to such basis differences is not practicable. Taxes on income were as follows: (in millions) for the fiscal years ended September 30, 2018 2017 2016 Current expense Federal $ 1,343.7 $ 585.0 $ 582.8 State 38.0 65.3 47.5 Non-U.S. 141.1 100.2 102.8 Deferred expense (benefit) (50.3 ) 8.9 9.0 Total $ 1,472.5 $ 759.4 $ 742.1 The tax benefits from the utilization of net operating loss carry-forwards were insignificant in fiscal years 2018 , 2017 and 2016 . The Company had tax shortfalls of $8.7 million and $5.9 million in fiscal years 2017 and 2016 associated with stock-based compensation plans, which increased the amount of income taxes that would have otherwise been payable and were reflected as components of stockholders ’ equity. In accordance with new accounting guidance adopted on October 1, 2017, the income tax effects of stock-based awards were recognized in income tax expense in fiscal year 2018 . See Note 2 – New Accounting Guidance in these notes to consolidated financial statements. Income before taxes consisted of the following: (in millions) for the fiscal years ended September 30, 2018 2017 2016 U.S. $ 1,458.1 $ 1,594.5 $ 1,641.7 Non-U.S. 757.1 954.6 858.1 Total $ 2,215.2 $ 2,549.1 $ 2,499.8 The Company’s income in certain countries is subject to reduced tax rates due to tax rulings. The impact of the reduced rates on income tax expense was $31.3 million or $0.06 per diluted share for fiscal year 2018 , $28.8 million or $0.05 per diluted share for fiscal year 2017 , and $34.2 million or $0.06 per diluted share for fiscal year 2016 . The tax rulings will expire in fiscal years 2019 and 2022 . The significant components of deferred tax assets and deferred tax liabilities were as follows: (in millions) as of September 30, 2018 2017 Deferred Tax Assets Deferred compensation and employee benefits $ 33.1 $ 60.2 Stock-based compensation 21.9 36.1 Net operating loss carry-forwards 31.8 28.4 Tax benefit for uncertain tax positions 10.0 17.9 Other 18.7 23.9 Total deferred tax assets 115.5 166.5 Valuation allowance (27.5 ) (25.2 ) Deferred tax assets, net of valuation allowance 88.0 141.3 Deferred Tax Liabilities Goodwill and other purchased intangibles 142.2 205.2 Depreciation on fixed assets 20.9 35.3 Investments in partnerships 16.4 26.0 Deferred commissions 9.0 15.0 Other 8.7 14.6 Total deferred tax liabilities 197.2 296.1 Net Deferred Tax Liability $ 109.2 $ 154.8 Deferred income tax assets and liabilities that relate to the same tax jurisdiction are presented net on the consolidated balance sheets. The components of the net deferred tax liability were classified in the consolidated balance sheets as follows: (in millions) as of September 30, 2018 2017 Other assets $ 17.3 $ 15.8 Deferred tax liabilities 126.5 170.6 Net Deferred Tax Liability $ 109.2 $ 154.8 At September 30, 2018 , there were $153.2 million of non-U.S. net operating loss carry-forwards, $78.2 million of which expire between fiscal years 2019 and 2038 with the remaining carry-forwards having an indefinite life. In addition, there were $32.3 million in state net operating loss carry-forwards that expire between fiscal years 2020 and 2038 . A partial valuation allowance has been provided to offset the related deferred tax assets due to the uncertainty of realizing the benefit of the net operating loss carry-forwards. The valuation allowance increased $2.3 million in fiscal year 2018 and $0.6 million in fiscal year 2017 . A reconciliation of the amount of tax expense at the federal statutory rate and taxes on income as reflected in the consolidated statements of income is as follows: (in millions) for the fiscal years ended September 30, 2018 2017 2016 Federal taxes at statutory rate $ 542.7 24.5 % $ 892.2 35.0 % $ 874.9 35.0 % Transition tax on deemed repatriation of undistributed foreign earnings 983.2 44.4 % — — — — Revaluation of net deferred tax liabilities (53.3 ) (2.4 %) — — — — Other Tax Act impacts 38.9 1.8 % — — — — State taxes, net of federal tax effect 16.6 0.7 % 41.4 1.6 % 42.7 1.7 % Effect of non-U.S. operations (61.9 ) (2.8 %) (146.2 ) (5.7 %) (153.0 ) (6.1 %) Effect of net (income) loss attributable to noncontrolling interests 5.3 0.2 % (32.6 ) (1.3 %) (10.9 ) (0.4 %) Other 1.0 0.1 % 4.6 0.2 % (11.6 ) (0.5 %) Tax Provision $ 1,472.5 66.5 % $ 759.4 29.8 % $ 742.1 29.7 % Other Tax Act impacts consist primarily of foreign dividend distribution taxes and tax withholdings. A reconciliation of the beginning and ending balances of gross unrecognized tax benefits is as follows: (in millions) for the fiscal years ended September 30, 2018 2017 2016 Balance at beginning of year $ 81.1 $ 82.1 $ 105.2 Additions for tax positions of prior years 3.6 6.6 0.6 Reductions for tax positions of prior years (6.6 ) (1.3 ) (9.0 ) Tax positions related to the current year 11.6 11.6 12.9 Settlements with taxing authorities — (5.2 ) (5.4 ) Expirations of statute of limitations (12.2 ) (12.7 ) (22.2 ) Balance at End of Year $ 77.5 $ 81.1 $ 82.1 If recognized, the balance, net of any deferred tax benefits, would favorably affect the Company’s effective income tax rate in future periods. Accrued interest on uncertain tax positions at September 30, 2018 and 2017 was $11.3 million and $10.4 million , and is not presented in the unrecognized tax benefits table above. Interest expense (benefit) of $0.9 million , $1.6 million and $(1.3) million was recognized during fiscal years 2018 , 2017 and 2016 . Accrued penalties at September 30, 2018 and 2017 were insignificant. The Company files a consolidated U.S. federal income tax return, multiple U.S. state and local income tax returns, and income tax returns in multiple non-U.S. jurisdictions. The Company is subject to examination by the taxing authorities in these jurisdictions. The Company’s major tax jurisdictions and the tax years for which the statutes of limitations have not expired are as follows: India 2003 to 2018 ; Canada 2011 to 2018 ; Hong Kong 2012 to 2018 ; Singapore 2013 to 2018 ; Luxembourg 2014 to 2018 ; the U.K. 2017 and 2018 ; U.S. federal 2015 to 2018 ; the State of Florida 2013 to 2018 ; the States of California, Massachusetts, Minnesota and New York, and City of New York 2015 to 2018 . The Company has ongoing examinations in various stages of completion in the States of Florida and Pennsylvania and City of New York, and in Canada, Germany, Hong Kong, India and Switzerland. Examination outcomes and the timing of settlements are subject to significant uncertainty. Such settlements may involve some or all of the following: the payment of additional taxes, the adjustment of deferred taxes and/or the recognition of unrecognized tax benefits. The Company has recognized a tax benefit only for those positions that meet the more-likely-than-not recognition threshold. It is reasonably possible that the total unrecognized tax benefit as of September 30, 2018 could decrease by an estimated $16.4 million within the next twelve months as a result of the expiration of statutes of limitations in the U.S. federal and certain U.S. state and local and non-U.S. tax jurisdictions, and potential settlements with U.S. states and non-U.S. taxing authorities.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings In July 2016, a former employee filed a class action lawsuit captioned Cryer v. Franklin Resources, Inc., et al. in the United States District Court for the Northern District of California against Franklin, the Franklin Templeton 401(k) Retirement Plan (“Plan”) Investment Committee (“Investment Committee”), and unnamed Investment Committee members. The plaintiff asserts a claim for breach of fiduciary duty under the Employee Retirement Income Security Act (“ERISA”), 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. On November 2, 2017, a second former employee, represented by the same law firm, filed another class action lawsuit relating to the Plan in the same court, captioned Fernandez v. Franklin Resources, Inc., et al. The plaintiff filed an amended complaint on February 6, 2018, naming the same defendants as those named in the Cryer action, as well as the Franklin Board of Directors, the Plan Administrative Committee, individual current and former Franklin directors, and individual current and former Investment Committee members. The plaintiff in this second lawsuit asserts the same ERISA breach of fiduciary duty claim asserted in the Cryer action, as well as claims for alleged prohibited transactions by virtue of the Plan ’ s investments in the Funds and for an alleged failure to monitor the performance of the Investment Committee. The plaintiff alleges that Plan losses exceed $60.0 million and seeks the same relief sought in the Cryer action. On April 6, 2018, the court consolidated the Fernandez action with the existing Cryer action. Management strongly believes that the claims asserted in the litigation are without merit and Franklin is defending against the consolidated action vigorously. Franklin cannot at this time predict the eventual outcome of the litigation 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 September 30, 2018 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 The Company leases office space and equipment under operating leases expiring at various dates through fiscal year 2032 . Lease expense was $55.9 million , $56.3 million and $69.3 million in fiscal years 2018 , 2017 and 2016 . Sublease income totaled $0.2 million , $0.4 million and $1.6 million in fiscal years 2018 , 2017 and 2016 . Future minimum lease payments under long-term non-cancelable operating leases were as follows as of September 30, 2018 : (in millions) for the fiscal years ending September 30, Amount 2019 $ 46.6 2020 42.2 2021 37.8 2022 33.1 2023 32.6 Thereafter 175.1 Total Minimum Lease Payments $ 367.4 Future minimum rentals to be received under non-cancelable subleases totaled $0.2 million at September 30, 2018 . While the Company has no contractual obligation to do so, it routinely makes cash investments in the course of launching sponsored funds. At September 30, 2018 , the Company had $299.0 million of committed capital contributions which relate to discretionary commitments to invest in sponsored funds and other investment products and entities. These unfunded commitments are not recorded in the Company ’ s consolidated balance sheet.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Sep. 30, 2018
Share-based Compensation [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company’s stock-based compensation plans consist of the Amended and Restated Annual Incentive Compensation Plan (the “AIP”), the 2002 Universal Stock Incentive Plan, as amended and restated (the “USIP”) and the amended and restated Franklin Resources, Inc. 1998 Employee Stock Investment Plan (the “ESIP”). The Compensation Committee of the Board of Directors determines the terms and conditions of awards under the AIP, the USIP and the ESIP. Stock-based compensation expenses were as follows: (in millions) for the fiscal years ended September 30, 2018 2017 2016 Stock and stock unit awards $ 111.6 $ 117.0 $ 125.3 Employee stock investment plan 6.2 6.4 6.2 Total $ 117.8 $ 123.4 $ 131.5 Stock and Stock Unit Awards Under the terms of the AIP, eligible employees may receive cash, equity awards and/or mutual fund unit awards generally based on the performance of the Company, its funds and the individual employee. The USIP provides for the issuance of the Company’s common stock for various stock-related awards to officers, directors and employees. There are 120.0 million shares authorized under the USIP, of which 18.4 million shares were available for grant at September 30, 2018 . Stock awards entitle holders to the right to sell the underlying shares of the Company’s common stock once the awards vest. Stock unit awards entitle holders to receive the underlying shares of common stock once the awards vest. Awards vest based on the passage of time or the achievement of predetermined Company financial performance goals. 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 fiscal year ended September 30, 2018 Nonvested balance at September 30, 2017 2,783 1,761 4,544 $ 37.23 Granted 2,271 724 2,995 42.63 Vested (2,126 ) (516 ) (2,642 ) 39.18 Forfeited/canceled (250 ) (156 ) (406 ) 43.84 Nonvested balance at September 30, 2018 2,678 1,813 4,491 $ 39.08 Total unrecognized compensation expense related to nonvested stock and stock unit awards was $120.2 million at September 30, 2018 . This expense is expected to be recognized over a remaining weighted-average vesting period of 1.6 years . The weighted-average grant-date fair values of stock awards and stock unit awards granted during fiscal years 2018 , 2017 and 2016 were $42.63 , $34.23 and $40.88 per share. The total fair value of stock and stock unit awards vested during the same periods was $91.5 million , $104.0 million and $92.8 million . The Company generally does not repurchase shares upon vesting of stock and stock unit awards. However, in order to pay taxes due in connection with the vesting of employee and executive officer stock and stock unit awards, shares are repurchased using a net stock issuance method. Employee Stock Investment Plan The ESIP allows eligible participants to buy shares of the Company’s common stock at a discount of its market value on defined dates. A total of 0.8 million shares were issued under the ESIP during fiscal year 2018 , and 2.8 million shares were reserved for future issuance at September 30, 2018 .

Defined Contribution Plans

Defined Contribution Plans	12 Months Ended
	Sep. 30, 2018
Retirement Benefits [Abstract]
Defined Contribution Plans	Defined Contribution Plans The Company sponsors a 401(k) plan which covers substantially all U.S. employees who meet certain employment requirements. Participants may contribute up to 50% of pretax annual compensation and up to 100% of the cash portion of the participant ’ s year-end bonus, as defined by the plan and subject to Internal Revenue Code limitations, each year to the plan. In addition, certain of the Company ’ s non-U.S. subsidiaries sponsor defined contribution plans primarily for the purpose of providing deferred compensation incentives for employees and to comply with local regulatory requirements. The total expenses recognized for defined contribution plans were $49.8 million , $45.5 million and $46.8 million for fiscal years 2018 , 2017 and 2016 .

Segment and Geographic Informat

Segment and Geographic Information	12 Months Ended
	Sep. 30, 2018
Segment Reporting, Measurement Disclosures [Abstract]
Segment and Geographic Information	Segment and Geographic Information The Company has one operating segment, investment management and related services. Geographic information was as follows: (in millions) for the fiscal years ended September 30, 2018 2017 2016 Operating Revenues United States $ 3,722.1 $ 3,898.4 $ 4,063.6 Luxembourg 1,730.6 1,652.8 1,707.9 Asia-Pacific 297.4 281.0 267.9 Canada 250.3 260.8 273.8 The Bahamas 208.1 205.9 204.6 Europe, Middle East and Africa, excluding Luxembourg 97.0 83.2 94.0 Latin America 13.6 10.1 6.2 Total $ 6,319.1 $ 6,392.2 $ 6,618.0 (in millions) as of September 30, 2018 2017 2016 Property and Equipment, Net United States $ 465.4 $ 426.1 $ 428.0 Asia-Pacific 42.1 60.2 62.9 The Bahamas 12.8 13.4 14.3 Europe, Middle East and Africa 10.1 12.2 14.9 Canada 3.7 5.3 3.1 Latin America 0.9 — — Total $ 535.0 $ 517.2 $ 523.2 Operating revenues are generally allocated to geographic areas based on the location of the subsidiary providing services.

Other Income (Expenses)

Other Income (Expenses)	12 Months Ended
	Sep. 30, 2018
Other Income and Expenses [Abstract]
Other Income (Expenses)	Other Income (Expenses) Other income (expenses) consisted of the following: (in millions) for the fiscal years ended September 30, 2018 2017 2016 Investment and Other Income, Net Interest income $ 76.5 $ 74.9 $ 36.5 Dividend income 51.1 13.9 20.6 Gains on trading investment securities, net 1.1 12.2 50.1 Realized gains on sale of investment securities, available-for-sale 4.2 5.6 32.1 Realized losses on sale of investment securities, available-for-sale (1.2 ) (1.6 ) (3.2 ) Income from investments in equity method investees 44.4 107.9 56.7 Other-than-temporary impairment of investments (1.7 ) (0.8 ) (11.1 ) Gains (losses) on investments of CIPs, net (55.0 ) 118.2 (13.5 ) Foreign currency exchange gains (losses), net 0.6 (16.0 ) (2.9 ) Rental income 15.9 11.1 11.0 Other, net 9.4 10.9 7.7 Total 145.3 336.3 184.0 Interest Expense (48.7 ) (51.5 ) (49.9 ) Other Income, Net $ 96.6 $ 284.8 $ 134.1 Interest income was primarily generated by cash equivalents and trading investment securities. Substantially all of the dividend income and realized gains and losses on sale of available-for-sale securities were generated by investments in nonconsolidated funds. Proceeds from the sale of available-for-sale securities were $85.5 million , $51.6 million and $269.4 million for fiscal years 2018 , 2017 and 2016 . Net gains (losses) recognized on the Company ’ s trading investment securities that were held at September 30, 2018 , 2017 and 2016 were $(1.7) million , $5.0 million and $27.9 million . Net gains (losses) recognized on trading investment securities of CIPs that were held at September 30, 2018 , 2017 and 2016 were $(24.5) million , $21.9 million and $9.4 million .

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Sep. 30, 2018
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 Gains on Investments Currency Translation Adjustments Unrealized Losses on Total for the fiscal year ended September 30, 2018 Balance at October 1, 2017 $ 2.2 $ (281.0 ) $ (6.0 ) $ (284.8 ) Adoption of new accounting guidance — — (0.1 ) (0.1 ) Other comprehensive income (loss) Other comprehensive income (loss) before reclassifications, net of tax 7.3 (85.5 ) 1.5 (76.7 ) Reclassifications to net investment and other income, net of tax (3.0 ) (6.4 ) 0.4 (9.0 ) Total other comprehensive income (loss) 4.3 (91.9 ) 1.9 (85.7 ) Balance at September 30, 2018 $ 6.5 $ (372.9 ) $ (4.2 ) $ (370.6 ) (in millions) Unrealized Gains on Investments Currency Translation Adjustments Unrealized Losses on Defined Benefit Plans Total for the fiscal year ended September 30, 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 Other comprehensive income before reclassifications, net of tax 6.5 65.4 2.1 74.0 Reclassifications to net investment and other income, net of tax (4.3 ) — — (4.3 ) Total other comprehensive income 2.2 65.4 2.1 69.7 Balance at September 30, 2017 $ 2.2 $ (281.0 ) $ (6.0 ) $ (284.8 )

Subsequent Event

Subsequent Event	12 Months Ended
	Sep. 30, 2018
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event On October 24, 2018 , the Company entered into an agreement to acquire all of the outstanding ownership interests in Benefit Street Partners L.L.C., a U.S. alternative credit manager, for a purchase consideration of approximately $683 million in cash, of which $130 million will be used to retire debt.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Business	Business. Franklin Resources, Inc. (“Franklin”) is a holding company that, together with its various subsidiaries (collectively, the “Company”) is referred to as Franklin Templeton Investments. The Company provides investment management and related services to investors globally through investment products which include sponsored funds, as well as institutional and high net-worth separate accounts. In addition to investment management, the Company ’ s services include fund administration, sales, distribution, marketing, shareholder servicing and other services.
Basis of Presentation	Basis of Presentation. The consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America, which require the use of estimates, judgments and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the periods presented. Management believes that the accounting estimates are appropriate and the resulting balances are reasonable; however, due to the inherent uncertainties in making estimates, actual amounts may differ from these estimates. Certain comparative amounts for prior fiscal years have been reclassified to conform to the financial statement presentation as of and for the fiscal year ended September 30, 2018 (“fiscal year 2018 ”).
Consolidation	Consolidation. The consolidated financial statements include the accounts of Franklin and its subsidiaries and consolidated investment products (“CIPs”) in which it has a controlling financial interest. The Company has a controlling financial interest when it owns a majority of the voting interest in a voting interest entity (“VOE”) or is the primary beneficiary of a variable interest entity (“VIE”). Intercompany accounts and transactions have been eliminated. A VIE is an entity in which the equity investment holders have not contributed sufficient capital to finance its activities or do not have defined rights and obligations normally associated with an equity investment. Substantially all of the Company ’ s VIEs are investment products, and its variable interests consist of its equity ownership interests in and investment management fees earned from these products. The Company is the primary beneficiary of a VIE 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”) and the life of the investment product.
Related Parties	Related Parties include sponsored funds and equity method investees. A substantial amount of the Company ’ s operating revenues and receivables are from related parties.
Earnings per Share	Earnings per Share . Basic and diluted earnings per share are computed using the two-class method, which considers participating securities as a separate class of shares. The Company ’ s participating securities consist of its nonvested stock and stock unit awards that contain nonforfeitable rights to dividends or dividend equivalents. Basic earnings per share is computed by dividing net income available to the Company ’ s common shareholders, adjusted to exclude earnings allocated to participating securities, by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share is computed on the basis of the weighted-average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period.
Fair Value Measurements	Fair Value Measurements. The Company uses a three-level fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value based on whether the inputs to those valuation techniques are observable or unobservable. The three levels of fair value hierarchy are set forth below. The assessment of the hierarchy level of the assets or liabilities measured at fair value is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities, which may include published net asset values (“NAV”) for fund products. Level 2 Observable inputs other than Level 1 quoted prices, such as non-binding quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs other than quoted prices that are observable or corroborated by observable market data. Level 2 quoted prices are generally obtained from two independent third-party brokers or dealers, including prices derived from model-based valuation techniques for which the significant assumptions are observable in the market or corroborated by observable market data. Quoted prices are validated through price variance analysis, subsequent sales testing, stale price review, price comparison across pricing vendors and due diligence reviews of third-party vendors. Level 3 Unobservable inputs that are supported by little or no market activity. These inputs require significant management judgment and reflect the Company’s estimation of assumptions that market participants would use in pricing the asset or liability. Quoted market prices may be adjusted if events occur, such as significant price changes in proxies traded in relevant markets after the close of corresponding markets, trade halts or suspensions, or unscheduled market closures. These proxies consist of correlated country-specific exchange-traded securities, such as futures, American Depositary Receipts indices or exchange-traded funds. The price adjustments are primarily determined based on third-party factors derived from model-based valuation techniques for which the significant assumptions are observable in the market. A substantial amount of the Company’s investments are recorded at fair value or amounts that approximate fair value on a recurring basis. Investments in fund products for which fair value is estimated using NAV as a practical expedient (when the NAV is available to the Company as an investor but is not publicly available) are not classified in the fair value hierarchy. Fair values are estimated for disclosure purposes for financial instruments that are not measured at fair value.
Cash and Cash Equivalents	Cash and Cash Equivalents primarily consist of nonconsolidated sponsored money market funds and deposits with financial institutions. At September 30, 2017, cash and cash equivalents also included debt instruments and time deposits with original maturities of three months or less at the purchase date. Cash and cash equivalents are carried at cost, except for debt instruments which are carried at amortized cost. Due to the short-term nature and liquidity of these financial instruments, their carrying values approximate fair value. The Company maintains cash and cash equivalents with financial institutions in various countries, limits the amount of credit exposure with any given financial institution and conducts ongoing evaluations of the creditworthiness of the financial institutions with which it does business.
Receivables	Receivables consist primarily of fees receivable from investment products and are carried at invoiced amounts. Due to the short-term nature and liquidity of the receivables, their carrying values approximate fair value.
Investments	Investments consist of investment securities, trading and available-for-sale, investments in equity method investees and other investments. Investment Securities, Trading consist of nonconsolidated sponsored funds, debt and other equity securities, and are carried at fair value. Changes in the fair value of trading securities are recognized as gains and losses in earnings. The fair values of all funds and certain other equity securities are determined based on their published NAV. The fair values of debt and certain other equity securities are determined using independent third-party broker or dealer price quotes or based on discounted cash flows using significant unobservable inputs. At September 30, 2017, investment securities, trading also included corporate debt securities for which the fair value was determined using market pricing. Investment Securities, Available-for-Sale consist primarily of nonconsolidated sponsored funds and to a lesser extent, debt and other equity securities, and are carried at fair value. Realized gains and losses are included in investment income using the average cost method. Unrealized gains and losses are recorded net of tax as part of accumulated other comprehensive income (loss) until realized. The fair value of funds is determined based on their published NAV. The fair value of debt securities is primarily determined using independent third-party broker or dealer price quotes. The fair value of other equity securities is determined using quoted market prices. Investments in Equity Method Investees consist of equity investments in entities, including sponsored funds, over which the Company is able to exercise significant influence, but not control. Significant influence is generally considered to exist when the Company ’ s ownership interest in the investee is between 20% and 50%, although other factors, such as representation on the investee ’ s board of directors and the impact of commercial arrangements, also are considered in determining whether the equity method of accounting is appropriate. Investments in limited partnerships and limited liability companies are accounted for using the equity method when the Company ’ s investment is more than minor or when the Company is the general partner. Under the equity method of accounting, the investments are initially carried at cost and subsequently adjusted by the Company ’ s proportionate share of the entities ’ net income, which is recognized in earnings. Other Investments consist of equity investments in fund products and other entities over which the Company is unable to exercise significant influence and are not marketable, time deposits with maturities greater than three months from the date of purchase, and life settlement contracts. The equity investments are accounted for under the cost method. The fair value of fund products is estimated using NAV as a practical expedient. The fair value of other entities is generally estimated using significant unobservable inputs in either a market-based or income-based approach. The time deposits are carried at cost, which approximates fair value due to their short-term nature and liquidity. Life settlement contracts are carried at fair value, which is determined based on discounted cash flows using significant unobservable inputs. Impairment of Investments. Investments other than trading securities are evaluated for other-than-temporary impairment on a quarterly basis when the cost of an investment exceeds its fair value. The evaluation of equity securities includes the severity and duration of the decline in the fair value below cost, the Company ’ s intent and ability to hold the security for a period of time sufficient for an anticipated recovery in fair value, and the financial condition of and specific events related to the issuer. When an impairment of an equity security is determined to be other-than-temporary, the impairment is recognized in earnings. For debt securities, if the Company intends to sell or it is more likely than not that it will be required to sell a security before recovery of its amortized cost, the entire impairment is recognized in earnings. If the Company does not intend to sell or it is not more likely than not that it will be required to sell the security before anticipated recovery of its amortized cost, the impairment related to credit loss, which is the difference between the security ’ s amortized cost and the present value of its expected cash flows, is recognized in earnings with the remaining loss recognized in accumulated other comprehensive income (loss).
Cash and Cash Equivalents of CIPs	Cash and Cash Equivalents of CIPs consist of highly liquid investments, including money market funds, which are readily convertible into cash, and deposits with financial institutions, and are carried at cost. Due to the short-term nature and liquidity of these financial instruments, their carrying values approximate fair value.
Receivables of CIPs	Receivables of CIPs consist of investment and share transaction related receivables and are carried at transacted amounts. Due to the short-term nature and liquidity of the receivables, their carrying values approximate fair value.
Investments of CIPs	Investments of CIPs consist of trading securities and other investments that are not generally traded in active markets, and are carried at fair value. Changes in the fair value of the investments are recognized as gains and losses in earnings. The fair value of trading securities is determined using quoted market prices, or independent third-party broker or dealer price quotes if quoted market prices are not available. The investments that are not generally traded in active markets consist of debt and equity securities of entities in emerging markets and fund products. The fair values of debt and equity securities are determined using significant unobservable inputs in either a market-based or income-based approach. The fair value of fund products is estimated using NAV as a practical expedient.
Property and Equipment, net	Property and Equipment, net are recorded at cost and depreciated using the straight-line method over their estimated useful lives which range from three to 35 years. Expenditures for repairs and maintenance are charged to expense when incurred. Leasehold improvements are amortized using the straight-line method over their estimated useful lives or the lease term, whichever is shorter. Internal and external costs incurred in connection with developing or obtaining software for internal use are capitalized and amortized over the shorter of the estimated useful lives of the software or the license terms, beginning when the software project is complete and the application is put into production. Property and equipment is tested for impairment when there is an indication that the carrying value of an asset may not be recoverable. Carrying values are not recoverable when the undiscounted cash flows estimated to be generated by the assets are less than their carrying values. When an asset is determined to not be recoverable, the impairment is measured based on the excess, if any, of the carrying value of the asset over its respective fair value. Fair value is determined by discounted future cash flows models, appraisals or other applicable methods.
Goodwill and Other Intangible Assets, net	Goodwill and Other Intangible Assets, net . Goodwill represents the excess cost of a business acquisition over the fair value of the net assets acquired. Other intangible assets consist of investment management contracts acquired in business acquisitions. These intangible assets are amortized over their estimated useful lives, which range from three to 15 years, using the straight-line method, unless the asset is determined to have an indefinite useful life. Indefinite-lived intangible assets represent contracts to manage investment assets for which there is no foreseeable limit on the contract period. Goodwill and indefinite-lived intangible assets are tested for impairment annually as of August 1 and when an event occurs or circumstances change that more likely than not reduce the fair value of the related reporting unit or indefinite-lived intangible asset below its carrying value. The Company has one reporting unit, investment management and related services, consistent with its single operating segment, to which all goodwill has been assigned. Goodwill and indefinite-lived intangible assets may first be assessed for qualitative factors to determine whether it is necessary to perform a quantitative impairment test. The qualitative analysis considers entity-specific and macroeconomic factors and their potential impact on the key assumptions used in the determination of the fair value of the reporting unit or indefinite-lived intangible asset. A quantitative impairment test is performed if the results of the qualitative assessment indicate that it is more likely than not that the fair value of the reporting unit is less than its carrying value or an indefinite-lived intangible asset is impaired, or if a qualitative assessment is not performed. The quantitative goodwill impairment test involves a two-step process. The first step compares the fair value of the reporting unit to its carrying value. If the carrying value is less than the fair value, no impairment exists and the second step is not performed. If the carrying value is higher than the fair value, there is an indication that impairment may exist and the second step is performed to compute the amount of any impairment by comparing the implied fair value of the reporting unit goodwill with the carrying value of the goodwill. The quantitative indefinite-lived intangible assets impairment test compares the fair value of an asset to its carrying value. If the carrying value is higher than the fair value, impairment is recognized in the amount of the difference in values. The fair values of the reporting unit and indefinite-lived intangible assets are based on the net present value of estimated future cash flows, which include assumptions about the AUM growth rate, pre-tax profit margin, average effective fee rate, effective tax rate and discount rate, which is based on the Company ’ s weighted average cost of capital. Definite-lived intangible assets are tested for impairment quarterly. Impairment is indicated when the carrying value of an asset is not recoverable and exceeds its fair value. Recoverability is evaluated based on estimated undiscounted future cash flows using assumptions about AUM growth, average effective fee rates, the pre-tax profit margin and expected useful lives. If the carrying value of an asset is not recoverable through undiscounted cash flows, impairment is recognized in the amount by which the carrying value exceeds the asset’s fair value, as determined by discounted cash flows or other methods as appropriate for the asset type. Impairment is recognized in general, administrative and other expense.
Deferred Sales Commissions	Deferred Sales Commissions consist of up-front commissions paid to financial advisers and broker-dealers on shares of sponsored funds sold without a front-end sales charge to investors, and are amortized over the periods in which they are generally recovered from related revenues, which range from one to seven years. Deferred sales commissions are included in other assets in the consolidated balance sheet.
Debt	Debt consists of senior notes which are carried at amortized cost. The fair value is estimated using quoted market prices, independent third-party broker or dealer price quotes, or prices of publicly traded debt with similar maturities, credit risk and interest rates.
Debt of CIPs	Debt of CIPs is carried at amortized cost. The fair value is estimated using a discounted cash flow model that considers current interest rate levels, the quality of the underlying collateral and current economic conditions.
Contingent Consideration Liability	Contingent Consideration Liability consists of the expected future payments related to the Company’s commitment to acquire the remaining interests in K2 Advisors Holdings, LLC (“K2”) and is included in other liabilities in the consolidated balance sheet. The liability is carried at fair value, determined using the net present value of anticipated future cash flows based on estimated future revenue and profits and timing of payments.
Noncontrolling Interests	Noncontrolling Interests relate almost entirely to CIPs. Noncontrolling interests that are currently redeemable or convertible for cash or other assets at the option of the holder are classified as temporary equity. Nonredeemable noncontrolling interests are classified as a component of equity. Net income (loss) attributable to third-party investors is reflected as net income (loss) attributable to nonredeemable and redeemable noncontrolling interests in the consolidated statements of income. Sales and redemptions of shares of CIPs by third-party investors are a component of the change in noncontrolling interests included in financing activities in the consolidated statements of cash flows.
Revenues	Revenues . Fees from providing investment management and fund administration services (“investment management fees”), distribution fees and shareholder servicing fees are recognized as earned, over the period in which services are rendered, except for performance-based investment management fees which are recognized when earned. Sales commissions related to the sale of shares of sponsored funds are recognized on trade date. Investment management fees, other than performance-based fees, and distribution fees are determined based on a percentage of AUM, primarily on a monthly basis using average daily AUM. Performance-based investment management fees are based on performance targets established in the related investment management contracts. Shareholder servicing fees are based on factors such as AUM, transactions, and shareholder accounts established in the related service contracts. AUM is generally based on the fair value of the underlying securities held by the Company’s investment products and is calculated using fair value methods derived primarily from unadjusted quoted market prices, unadjusted independent third-party broker or dealer price quotes in active markets, or market prices or price quotes adjusted for observable price movements after the close of the primary market. The fair values of securities for which market prices are not readily available are internally valued using various methodologies which incorporate significant unobservable inputs as appropriate for each security type and represent an insignificant percentage of total AUM. Pricing of the securities is governed by the Company ’ s global valuation and pricing policy, which defines valuation and pricing conventions for each security type, including practices for responding to unexpected or unusual market events. Sales commissions and distribution fees are recorded gross of sales and distribution expenses paid to financial advisers and other intermediaries as the Company acts as the principal in its role as primary obligor to the sales and distribution agreements.
Stock-Based Compensation	Stock-Based Compensation. The fair value of share-based payment awards is estimated on the date of grant based on the market price of the underlying shares of the Company ’ s common stock and is amortized to compensation expense on a straight-line basis over the related vesting period, which is generally three years. Expense relating to awards subject to performance conditions is recognized if it is probable that the conditions will be achieved. The probability of achievement is assessed on a quarterly basis. Forfeitures are accounted for as they occur.
Postretirement Benefits	Postretirement Benefits . Defined contribution plan costs are expensed as incurred.
Income Taxes	Income Taxes. Deferred tax assets and liabilities are recorded for temporary differences between the tax basis of assets and liabilities and the reported amounts in the consolidated financial statements using the statutory tax rates in effect for the year when the reported amount of the asset or liability is expected to be recovered or settled, respectively. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income tax expense in the period that includes the enactment date. A valuation allowance is recorded to reduce the carrying values of deferred tax assets to the amount that is more likely than not to be realized. For each tax position taken or expected to be taken in a tax return, the Company determines whether it is more likely than not that the position will be sustained upon examination based on the technical merits of the position, including resolution of any related appeals or litigation. A tax position that meets the more likely than not recognition threshold is measured at the largest amount of benefit that is greater than 50% likely of being realized upon settlement. Interest on tax matters is recognized in interest expense and penalties in other operating expenses. As a multinational corporation, the Company operates in various locations outside the U.S. and generates earnings from its non-U.S. subsidiaries. Prior to enactment of the Tax Cuts and Jobs Act (the “Tax Act”) in December 2017, the Company indefinitely reinvested the undistributed earnings of all its non-U.S. subsidiaries, except for income previously taxed in the U.S. or subject to regulatory or legal repatriation restrictions or requirements. Effective January 1, 2018, the Company intends to repatriate the earnings in excess of regulatory, capital or operational requirements of substantially all of its non-U.S. subsidiaries.
Foreign Currency Translation and Transactions	Foreign Currency Translation and Transactions. Assets and liabilities of non-U.S. subsidiaries for which the local currency is the functional currency are translated at current exchange rates as of the end of the accounting period. The related revenues and expenses are translated at average exchange rates in effect during the period. Net exchange gains and losses resulting from translation are excluded from income and are recorded as part of accumulated other comprehensive income (loss). Transactions denominated in a foreign currency are revalued at the current exchange rate at the transaction date and any related gains and losses are recognized in earnings.

Earnings per Share (Tables)

Earnings per Share (Tables)	12 Months Ended
	Sep. 30, 2018
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) for the fiscal years ended September 30, 2018 2017 2016 Net income attributable to Franklin Resources, Inc. $ 764.4 $ 1,696.7 $ 1,726.7 Less: allocation of earnings to participating nonvested stock and stock unit awards 17.6 12.4 10.9 Net Income Available to Common Stockholders $ 746.8 $ 1,684.3 $ 1,715.8 Weighted-average shares outstanding – basic 537.4 558.8 583.8 Dilutive effect of nonparticipating nonvested stock unit awards 0.6 0.3 — Weighted-Average Shares Outstanding – Diluted 538.0 559.1 583.8 Earnings per Share Basic $ 1.39 $ 3.01 $ 2.94 Diluted 1.39 3.01 2.94

Investments (Tables)

Investments (Tables)	12 Months Ended
	Sep. 30, 2018
Investments [Abstract]
Summary of investments	Investments consisted of the following: (in millions) as of September 30, 2018 2017 Investment securities, trading Sponsored funds $ 248.1 $ 31.1 Debt and other equity securities 97.6 283.4 Total investment securities, trading 345.7 314.5 Investment securities, available-for-sale Sponsored funds 178.6 110.8 Debt and other equity securities 15.5 1.9 Total investment securities, available-for-sale 194.1 112.7 Investments in equity method investees 780.8 893.5 Other investments 105.9 72.9 Total $ 1,426.5 $ 1,393.6
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: Gross Unrealized (in millions) Cost Basis Gains Losses Fair Value as of September 30, 2018 Sponsored funds $ 172.9 $ 8.3 $ (2.6 ) $ 178.6 Debt and other equity securities 16.8 0.5 (1.8 ) 15.5 Total $ 189.7 $ 8.8 $ (4.4 ) $ 194.1 as of September 30, 2017 Sponsored funds $ 107.9 $ 9.4 $ (6.5 ) $ 110.8 Debt and other equity securities 1.9 — — 1.9 Total $ 109.8 $ 9.4 $ (6.5 ) $ 112.7
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 Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in millions) as of September 30, 2018 Sponsored funds $ 48.8 $ (2.1 ) $ 21.0 $ (0.5 ) $ 69.8 $ (2.6 ) Debt and other equity securities 10.9 (1.8 ) — — 10.9 (1.8 ) Total $ 59.7 $ (3.9 ) $ 21.0 $ (0.5 ) $ 80.7 $ (4.4 ) as of September 30, 2017 Sponsored funds $ 28.4 $ (6.3 ) $ 2.4 $ (0.2 ) $ 30.8 $ (6.5 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of assets and liability measured at fair value on a recurring basis	The assets and liability measured at fair value on a recurring basis were as follows: (in millions) Level 1 Level 2 Level 3 Total as of September 30, 2018 Assets Investment securities, trading Sponsored funds $ 248.1 $ — $ — $ 248.1 Debt and other equity securities 26.6 50.5 20.5 97.6 Investment securities, available-for-sale Sponsored funds 178.6 — — 178.6 Debt and other equity securities 4.4 10.8 0.3 15.5 Life settlement contracts — — 11.8 11.8 Total Assets Measured at Fair Value $ 457.7 $ 61.3 $ 32.6 $ 551.6 Liability Contingent consideration liability $ — $ — $ 38.7 $ 38.7 (in millions) Level 1 Level 2 Level 3 Total as of September 30, 2017 Assets Investment securities, trading Sponsored funds $ 31.1 $ — $ — $ 31.1 Debt and other equity securities 18.2 78.4 186.8 283.4 Investment securities, available-for-sale Sponsored funds 110.8 — — 110.8 Debt and other equity securities 1.0 0.6 0.3 1.9 Life settlement contracts — — 12.8 12.8 Total Assets Measured at Fair Value $ 161.1 $ 79.0 $ 199.9 $ 440.0 Liability Contingent consideration liability $ — $ — $ 51.0 $ 51.0
Schedule of changes in Level 3 assets and liabilities	Changes in Level 3 assets and liabilities were as follows: 2018 2017 (in millions) Investments Contingent Consideration Liability Investments Contingent Consideration Liabilities for the fiscal years ended September 30, Balance at beginning of year $ 199.9 $ (51.0 ) $ 205.1 $ (98.1 ) Acquisition — — — (5.7 ) Total realized and unrealized gains (losses) Included in investment and other income, net 4.5 — 8.5 — Included in general, administrative and other expense — (13.1 ) — 13.8 Purchases 14.5 — 5.4 — Sales (2.6 ) — (17.7 ) — Settlements (174.0 ) 32.4 (4.8 ) 39.0 Transfers out of Level 3 — — (0.4 ) — Foreign exchange revaluation and other (9.7 ) (7.0 ) 3.8 — Balance at End of Year $ 32.6 $ (38.7 ) $ 199.9 $ (51.0 ) Change in unrealized gains (losses) included in net income relating to assets and liability held at end of year $ 2.1 $ (13.1 ) $ 6.0 $ 8.1
Schedule of valuation techniques and significant unobservable inputs used in Level 3 fair value measurements	Valuation techniques and significant unobservable inputs used in the Level 3 fair value measurements were as follows: (in millions) as of September 30, 2018 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average) Investment securities, trading – debt and other equity securities $ 20.5 Discounted cash flow Discount rate 4.1%–12.3% (5.8%) Risk premium 2.0%–6.7% (3.6%) Life settlement contracts 11.8 Discounted cash flow Life expectancy 20–115 months (61) Discount rate 8.0%–20.0% (13.1%) Contingent consideration liability 38.7 Discounted cash flow Discount rate 13.0% (in millions) as of September 30, 2017 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average) Investment securities, trading – debt and other equity securities $ 175.7 Market pricing Redemption price $73 per $100 of par Discount rate 18.6% 11.1 Discounted cash flow Discount rate 4.1%–6.7% (5.7%) Risk premium 2.0%–4.1% (2.9%) Life settlement contracts 12.8 Discounted cash flow Life expectancy 20–123 months (62) Discount rate 8.0%–20.0% (13.2%) Contingent consideration liability 51.0 Discounted cash flow AUM growth rate 1.3%–9.4% (5.3%) Discount rate 14.6%
Schedule of financial instruments not measured at fair value	Financial instruments that were not measured at fair value were as follows: (in millions) 2018 2017 as of September 30, Fair Value Level Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Assets Cash and cash equivalents 1 $ 6,610.8 $ 6,610.8 $ 8,523.3 $ 8,523.3 Other investments Time deposits 2 12.3 12.3 13.4 13.4 Cost method investments 3 81.8 103.6 46.7 67.7 Financial Liability Debt 2 $ 695.9 $ 671.1 $ 1,044.2 $ 1,073.5

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Sep. 30, 2018
Property, Plant and Equipment, Net [Abstract]
Summary of property and equipment	Property and equipment, net consisted of the following: (in millions) Useful Lives In Years as of September 30, 2018 2017 Furniture, software and equipment $ 798.6 $ 804.7 3 – 10 Premises and leasehold improvements 628.1 580.9 5 – 35 Land 74.1 74.2 N/A Total cost 1,500.8 1,459.8 Less: accumulated depreciation and amortization (965.8 ) (942.6 ) Property and Equipment, Net $ 535.0 $ 517.2

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill and other intangible assets	Goodwill and other intangible assets, net consisted of the following: (in millions) as of September 30, 2018 2017 Goodwill $ 1,794.8 $ 1,687.2 Indefinite-lived intangible assets 530.7 534.0 Definite-lived intangible assets, net 7.9 6.5 Goodwill and Other Intangible Assets, Net $ 2,333.4 $ 2,227.7
Schedule of changes in carrying value of goodwill	Changes in the carrying value of goodwill were as follows: (in millions) for the fiscal years ended September 30, 2018 2017 Balance at beginning of year $ 1,687.2 $ 1,661.2 Acquisitions 117.4 18.8 Foreign exchange revaluation and other (9.8 ) 7.2 Balance at End of Year $ 1,794.8 $ 1,687.2
Schedule of definite-lived intangible assets	Definite-lived intangible assets were as follows: 2018 2017 (in millions) Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value as of September 30, Management contracts $ 54.9 $ (47.0 ) $ 7.9 $ 52.4 $ (45.9 ) $ 6.5
Schedule of estimated remaining amortization expense	Definite-lived intangible assets had a weighted-average remaining useful life of 2.8 years at September 30, 2018 , with estimated remaining amortization expense as follows: (in millions) for the fiscal years ending September 30, Amount 2019 $ 3.0 2020 3.0 2021 1.8 Thereafter 0.1 Total $ 7.9

Debt (Tables)

Debt (Tables)	12 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Schedule of outstanding debt	Debt consisted of the following: (in millions) 2018 Effective Interest Rate 2017 Effective Interest Rate as of September 30, Senior Notes $350 million 4.625% notes due May 2020 $ — N/A $ 349.9 4.74 % $300 million 2.800% notes due September 2022 299.7 2.93 % 299.6 2.93 % $400 million 2.850% notes due March 2025 399.6 2.97 % 399.5 2.97 % Total senior notes 699.3 1,049.0 Debt issuance costs (3.4 ) (4.8 ) Total $ 695.9 $ 1,044.2

Consolidated Investment Produ_2

Consolidated Investment Products (Tables)	12 Months Ended
	Sep. 30, 2018
Consolidated Investment Products [Abstract]
Schedule of balances of CIPs	The balances related to CIPs included in the Company’s consolidated balance sheets were as follows: (in millions) as of September 30, 2018 2017 Assets Cash and cash equivalents $ 299.8 $ 226.4 Receivables 114.2 234.1 Investments, at fair value 2,109.4 3,467.4 Other assets 1.0 0.9 Total Assets $ 2,524.4 $ 3,928.8 Liabilities Accounts payable and accrued expenses $ 68.0 $ 124.1 Debt 32.6 53.4 Other liabilities 9.3 8.7 Total liabilities 109.9 186.2 Redeemable Noncontrolling Interests 1,043.6 1,941.9 Stockholders ’ Equity Franklin Resources, Inc.’s interests 1,092.6 1,511.8 Nonredeemable noncontrolling interests 278.3 288.9 Total stockholders’ equity 1,370.9 1,800.7 Total Liabilities, Redeemable Noncontrolling Interests and Stockholders ’ Equity $ 2,524.4 $ 3,928.8
Schedule of investments of CIPs	Investments of CIPs consisted of the following: (in millions) as of September 30, 2018 2017 Investment securities, trading $ 1,651.8 $ 3,017.2 Other equity securities 311.0 306.9 Other debt securities 146.6 143.3 Total $ 2,109.4 $ 3,467.4
Schedule of assets and liabilities measured at fair value on a recurring basis	Assets and liabilities of CIPs 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 September 30, 2018 Assets Investments Equity securities $ 270.7 $ 154.8 $ 199.7 $ 113.8 $ 739.0 Debt securities 0.6 1,219.5 150.3 — 1,370.4 Total Assets Measured at Fair Value $ 271.3 $ 1,374.3 $ 350.0 $ 113.8 $ 2,109.4 Liabilities Other liabilities $ 0.6 $ 8.7 $ — $ — $ 9.3 (in millions) Level 1 Level 2 Level 3 NAV as a Practical Expedient Total as of September 30, 2017 Assets Investments Equity securities $ 331.4 $ 128.1 $ 160.7 $ 155.2 $ 775.4 Debt securities 1.4 2,555.2 135.4 — 2,692.0 Total Assets Measured at Fair Value $ 332.8 $ 2,683.3 $ 296.1 $ 155.2 $ 3,467.4 Liabilities Other liabilities $ 0.4 $ 8.3 $ — $ — $ 8.7
Schedule of changes in Level 3 assets of CIPs	Changes in Level 3 assets were as follows: 2018 2017 (in millions) Equity Securities Debt Securities Total Level 3 Assets Equity Securities Debt Securities Total Level 3 Assets for the fiscal years ended September 30, Balance at beginning of year $ 160.7 $ 135.4 $ 296.1 $ 160.3 $ 132.3 $ 292.6 Adoption of new accounting guidance — — — (45.4 ) (0.5 ) (45.9 ) Realized and unrealized gains (losses) included in investment and other income, net 26.2 4.2 30.4 19.2 (0.3 ) 18.9 Purchases 32.0 42.2 74.2 30.4 24.7 55.1 Sales (17.5 ) (38.6 ) (56.1 ) (6.7 ) (22.3 ) (29.0 ) Settlements — (0.5 ) (0.5 ) — (0.6 ) (0.6 ) Consolidation — 7.0 7.0 — — — Foreign exchange revaluation (1.7 ) 0.6 (1.1 ) 2.9 2.1 5.0 Balance at End of Year $ 199.7 $ 150.3 $ 350.0 $ 160.7 $ 135.4 $ 296.1 Change in unrealized gains (losses) included in net income relating to assets held at end of year $ 17.3 $ 0.1 $ 17.4 $ 29.4 $ (0.9 ) $ 28.5
Schedule of valuation techniques and significant unobservable inputs used in Level 3 fair value measurements	Valuation techniques and significant unobservable inputs used in Level 3 fair value measurements were as follows: (in millions) as of September 30, 2018 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average) Equity securities $ 171.9 Market comparable companies EBITDA multiple 5.0–13.6 (9.3) 27.8 Discounted cash flow Discount rate 8.0%–16.5% (14.1%) Debt securities 78.7 Discounted cash flow Discount rate 7.0%–14.8% (10.8%) 33.9 Comparable trading multiple Price-to-earnings ratio 10.0 Enterprise value/ EBITDA multiple 20.9 32.3 Discounted cash flow Loss-adjusted discount rate 3.0%–22.7% (12.0%) 5.4 Market pricing Private sale pricing $42 per $100 of par (in millions) as of September 30, 2017 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average) Equity securities $ 101.9 Market comparable companies EBITDA multiple 5.5–12.3 (9.0) 44.4 Discounted cash flow Discount rate 5.7%–17.9% (14.3%) 14.4 Market pricing Price-to-earnings ratio 10.0 Debt securities 112.7 Discounted cash flow Discount rate 5.0%–33.0% (9.5%) Risk premium 0.0%–25.0% (8.4%) 22.7 Market pricing Private sale pricing $33–$57 ($52) per $100 of par
Schedule of financial instruments of CIPs not measured at fair value	Financial instruments of CIPs that were not measured at fair value were as follows: (in millions) 2018 2017 as of September 30, Fair Value Level Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Asset Cash and cash equivalents 1 $ 299.8 $ 299.8 $ 226.4 $ 226.4 Financial Liability Debt 3 $ 32.6 $ 32.4 $ 53.4 $ 53.1
Schedule of changes in redeemable noncontrolling interests of CIPs	Changes in redeemable noncontrolling interests of CIPs were as follows: (in millions) for the fiscal years ended September 30, 2018 2017 2016 Balance at beginning of year $ 1,941.9 $ 61.1 $ 59.6 Adoption of new accounting guidance — 824.7 — Net income (loss) (12.8 ) 53.0 1.6 Net subscriptions and other 170.9 884.3 79.9 Net consolidations (deconsolidations) (1,056.4 ) 118.8 (80.0 ) Balance at End of Year $ 1,043.6 $ 1,941.9 $ 61.1

Nonconsolidated Variable Inte_2

Nonconsolidated Variable Interest Entities (Tables)	12 Months Ended
	Sep. 30, 2018
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) as of September 30, 2018 2017 Investments $ 161.8 $ 129.3 Receivables 140.1 155.6 Total $ 301.9 $ 284.9

Taxes on Income (Tables)

Taxes on Income (Tables)	12 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Schedule of taxes on income	Taxes on income were as follows: (in millions) for the fiscal years ended September 30, 2018 2017 2016 Current expense Federal $ 1,343.7 $ 585.0 $ 582.8 State 38.0 65.3 47.5 Non-U.S. 141.1 100.2 102.8 Deferred expense (benefit) (50.3 ) 8.9 9.0 Total $ 1,472.5 $ 759.4 $ 742.1
Schedule of income before taxes	Income before taxes consisted of the following: (in millions) for the fiscal years ended September 30, 2018 2017 2016 U.S. $ 1,458.1 $ 1,594.5 $ 1,641.7 Non-U.S. 757.1 954.6 858.1 Total $ 2,215.2 $ 2,549.1 $ 2,499.8
Components of deferred tax assets and liabilities	The significant components of deferred tax assets and deferred tax liabilities were as follows: (in millions) as of September 30, 2018 2017 Deferred Tax Assets Deferred compensation and employee benefits $ 33.1 $ 60.2 Stock-based compensation 21.9 36.1 Net operating loss carry-forwards 31.8 28.4 Tax benefit for uncertain tax positions 10.0 17.9 Other 18.7 23.9 Total deferred tax assets 115.5 166.5 Valuation allowance (27.5 ) (25.2 ) Deferred tax assets, net of valuation allowance 88.0 141.3 Deferred Tax Liabilities Goodwill and other purchased intangibles 142.2 205.2 Depreciation on fixed assets 20.9 35.3 Investments in partnerships 16.4 26.0 Deferred commissions 9.0 15.0 Other 8.7 14.6 Total deferred tax liabilities 197.2 296.1 Net Deferred Tax Liability $ 109.2 $ 154.8
Components of net deferred tax liability as classified in the consolidated balance sheets	The components of the net deferred tax liability were classified in the consolidated balance sheets as follows: (in millions) as of September 30, 2018 2017 Other assets $ 17.3 $ 15.8 Deferred tax liabilities 126.5 170.6 Net Deferred Tax Liability $ 109.2 $ 154.8
Reconciliation of the amount of tax expense at the federal statutory rate and taxes on income	A reconciliation of the amount of tax expense at the federal statutory rate and taxes on income as reflected in the consolidated statements of income is as follows: (in millions) for the fiscal years ended September 30, 2018 2017 2016 Federal taxes at statutory rate $ 542.7 24.5 % $ 892.2 35.0 % $ 874.9 35.0 % Transition tax on deemed repatriation of undistributed foreign earnings 983.2 44.4 % — — — — Revaluation of net deferred tax liabilities (53.3 ) (2.4 %) — — — — Other Tax Act impacts 38.9 1.8 % — — — — State taxes, net of federal tax effect 16.6 0.7 % 41.4 1.6 % 42.7 1.7 % Effect of non-U.S. operations (61.9 ) (2.8 %) (146.2 ) (5.7 %) (153.0 ) (6.1 %) Effect of net (income) loss attributable to noncontrolling interests 5.3 0.2 % (32.6 ) (1.3 %) (10.9 ) (0.4 %) Other 1.0 0.1 % 4.6 0.2 % (11.6 ) (0.5 %) Tax Provision $ 1,472.5 66.5 % $ 759.4 29.8 % $ 742.1 29.7 %
Reconciliation of gross unrecognized tax benefits	A reconciliation of the beginning and ending balances of gross unrecognized tax benefits is as follows: (in millions) for the fiscal years ended September 30, 2018 2017 2016 Balance at beginning of year $ 81.1 $ 82.1 $ 105.2 Additions for tax positions of prior years 3.6 6.6 0.6 Reductions for tax positions of prior years (6.6 ) (1.3 ) (9.0 ) Tax positions related to the current year 11.6 11.6 12.9 Settlements with taxing authorities — (5.2 ) (5.4 ) Expirations of statute of limitations (12.2 ) (12.7 ) (22.2 ) Balance at End of Year $ 77.5 $ 81.1 $ 82.1

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Future minimum lease payments under long-term non-cancelable operating leases	Future minimum lease payments under long-term non-cancelable operating leases were as follows as of September 30, 2018 : (in millions) for the fiscal years ending September 30, Amount 2019 $ 46.6 2020 42.2 2021 37.8 2022 33.1 2023 32.6 Thereafter 175.1 Total Minimum Lease Payments $ 367.4

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Sep. 30, 2018
Share-based Compensation [Abstract]
Summary of stock-based compensation expenses	Stock-based compensation expenses were as follows: (in millions) for the fiscal years ended September 30, 2018 2017 2016 Stock and stock unit awards $ 111.6 $ 117.0 $ 125.3 Employee stock investment plan 6.2 6.4 6.2 Total $ 117.8 $ 123.4 $ 131.5
Summary of 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 fiscal year ended September 30, 2018 Nonvested balance at September 30, 2017 2,783 1,761 4,544 $ 37.23 Granted 2,271 724 2,995 42.63 Vested (2,126 ) (516 ) (2,642 ) 39.18 Forfeited/canceled (250 ) (156 ) (406 ) 43.84 Nonvested balance at September 30, 2018 2,678 1,813 4,491 $ 39.08

Segment and Geographic Inform_2

Segment and Geographic Information (Tables)	12 Months Ended
	Sep. 30, 2018
Segment Reporting, Measurement Disclosures [Abstract]
Schedule of geographic information	Geographic information was as follows: (in millions) for the fiscal years ended September 30, 2018 2017 2016 Operating Revenues United States $ 3,722.1 $ 3,898.4 $ 4,063.6 Luxembourg 1,730.6 1,652.8 1,707.9 Asia-Pacific 297.4 281.0 267.9 Canada 250.3 260.8 273.8 The Bahamas 208.1 205.9 204.6 Europe, Middle East and Africa, excluding Luxembourg 97.0 83.2 94.0 Latin America 13.6 10.1 6.2 Total $ 6,319.1 $ 6,392.2 $ 6,618.0 (in millions) as of September 30, 2018 2017 2016 Property and Equipment, Net United States $ 465.4 $ 426.1 $ 428.0 Asia-Pacific 42.1 60.2 62.9 The Bahamas 12.8 13.4 14.3 Europe, Middle East and Africa 10.1 12.2 14.9 Canada 3.7 5.3 3.1 Latin America 0.9 — — Total $ 535.0 $ 517.2 $ 523.2

Other Income (Expenses) (Tables

Other Income (Expenses) (Tables)	12 Months Ended
	Sep. 30, 2018
Other Income and Expenses [Abstract]
Schedule of other income (expenses)	Other income (expenses) consisted of the following: (in millions) for the fiscal years ended September 30, 2018 2017 2016 Investment and Other Income, Net Interest income $ 76.5 $ 74.9 $ 36.5 Dividend income 51.1 13.9 20.6 Gains on trading investment securities, net 1.1 12.2 50.1 Realized gains on sale of investment securities, available-for-sale 4.2 5.6 32.1 Realized losses on sale of investment securities, available-for-sale (1.2 ) (1.6 ) (3.2 ) Income from investments in equity method investees 44.4 107.9 56.7 Other-than-temporary impairment of investments (1.7 ) (0.8 ) (11.1 ) Gains (losses) on investments of CIPs, net (55.0 ) 118.2 (13.5 ) Foreign currency exchange gains (losses), net 0.6 (16.0 ) (2.9 ) Rental income 15.9 11.1 11.0 Other, net 9.4 10.9 7.7 Total 145.3 336.3 184.0 Interest Expense (48.7 ) (51.5 ) (49.9 ) Other Income, Net $ 96.6 $ 284.8 $ 134.1

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Sep. 30, 2018
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 Gains on Investments Currency Translation Adjustments Unrealized Losses on Total for the fiscal year ended September 30, 2018 Balance at October 1, 2017 $ 2.2 $ (281.0 ) $ (6.0 ) $ (284.8 ) Adoption of new accounting guidance — — (0.1 ) (0.1 ) Other comprehensive income (loss) Other comprehensive income (loss) before reclassifications, net of tax 7.3 (85.5 ) 1.5 (76.7 ) Reclassifications to net investment and other income, net of tax (3.0 ) (6.4 ) 0.4 (9.0 ) Total other comprehensive income (loss) 4.3 (91.9 ) 1.9 (85.7 ) Balance at September 30, 2018 $ 6.5 $ (372.9 ) $ (4.2 ) $ (370.6 ) (in millions) Unrealized Gains on Investments Currency Translation Adjustments Unrealized Losses on Defined Benefit Plans Total for the fiscal year ended September 30, 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 Other comprehensive income before reclassifications, net of tax 6.5 65.4 2.1 74.0 Reclassifications to net investment and other income, net of tax (4.3 ) — — (4.3 ) Total other comprehensive income 2.2 65.4 2.1 69.7 Balance at September 30, 2017 $ 2.2 $ (281.0 ) $ (6.0 ) $ (284.8 )

Significant Accounting Polici_3

Significant Accounting Policies - Narrative (Details)	12 Months Ended
	Sep. 30, 2018
Property, Plant and Equipment [Line Items]
Number of reporting unit	1
Deferred sales commission amortization period, minimum	1 year
Deferred sales commission amortization period, maximum	7 years
Stock-based compensation awards vesting period	3 years
Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful lives	3 years
Intangible assets, estimated useful lives	3 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful lives	35 years
Intangible assets, estimated useful lives	15 years

New Accounting Guidance - Narra

New Accounting Guidance - Narrative (Details) $ in Millions	Sep. 30, 2018USD ($)
ASU 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance	$ 9
Investments [Member] | ASU 2016-01 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance	22
Retained Earnings [Member] | ASU 2016-01 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance	30
Comprehensive Income [Member] | ASU 2016-01 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance	$ 8

Earnings per Share - Narrative

Earnings per Share - Narrative (Details) - shares shares in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Shares of nonparticipating nonvested stock unit awards excluded from the calculation of diluted EPS	0.3	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	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share Reconciliation [Abstract]
Net income attributable to Franklin Resources, Inc.	$ 764.4	$ 1,696.7	$ 1,726.7
Less: allocation of earnings to participating nonvested stock and stock unit awards - basic	17.6	12.4	10.9
Less: allocation of earnings to participating nonvested stock and stock unit awards - diluted	17.6	12.4	10.9
Net Income Available to Common Stockholders - basic	746.8	1,684.3	1,715.8
Net Income Available to Common Stockholders - diluted	$ 746.8	$ 1,684.3	$ 1,715.8
Weighted-average shares outstanding – basic	537.4	558.8	583.8
Dilutive effect of nonparticipating nonvested stock unit awards	0.6	0.3	0
Weighted-Average Shares Outstanding – Diluted	538	559.1	583.8
Earnings per Share [Abstract]
Basic	$ 1.39	$ 3.01	$ 2.94
Diluted	$ 1.39	$ 3.01	$ 2.94

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Investments [Abstract]
Aggregate carrying amounts of investment securities pledged as collateral	$ 1.2	$ 0.8
Other-than-temporary impairment of investments	$ 1.7	$ 0.8	$ 11.1
Sponsored Funds [Member]
Investment Holdings [Line Items]
Other-than-temporary impairment of available-for-sale			$ 5.8

Investments - Summary of Invest

Investments - Summary of Investments (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Investment Holdings [Line Items]
Investment securities, trading	$ 345.7	$ 314.5
Investment securities, available-for-sale	194.1	112.7
Investments in equity method investees	780.8	893.5
Other investments	105.9	72.9
Total	1,426.5	1,393.6
Sponsored Funds [Member]
Investment Holdings [Line Items]
Investment securities, trading	248.1	31.1
Investment securities, available-for-sale	178.6	110.8
Debt and Other Equity Securities [Member]
Investment Holdings [Line Items]
Investment securities, trading	97.6	283.4
Investment securities, available-for-sale	$ 15.5	$ 1.9

Investments - Summary of Gross

Investments - Summary of Gross Unrealized Gains and Losses Relating to Investment Securities, available-for-Sale (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Investment Holdings [Line Items]
Cost Basis	$ 189.7	$ 109.8
Gross Unrealized Gains	8.8	9.4
Gross Unrealized Losses	(4.4)	(6.5)
Fair Value	194.1	112.7
Sponsored Funds [Member]
Investment Holdings [Line Items]
Cost Basis	172.9	107.9
Gross Unrealized Gains	8.3	9.4
Gross Unrealized Losses	(2.6)	(6.5)
Fair Value	178.6	110.8
Debt and Other Equity Securities [Member]
Investment Holdings [Line Items]
Cost Basis	16.8	1.9
Gross Unrealized Gains	0.5	0
Gross Unrealized Losses	(1.8)	0
Fair Value	$ 15.5	$ 1.9

Investments - Summary of Gros_2

Investments - Summary of Gross Unrealized Losses, AFS, Continuous Loss Position (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	$ 59.7
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Gross Unrealized Losses	(3.9)
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Greater, Fair Value	21
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Greater, Gross Unrealized Losses	(0.5)
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value	80.7
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Gross Unrealized Losses	(4.4)
Sponsored Funds [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	48.8	$ 28.4
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Gross Unrealized Losses	(2.1)	(6.3)
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Greater, Fair Value	21	2.4
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Greater, Gross Unrealized Losses	(0.5)	(0.2)
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value	69.8	30.8
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Gross Unrealized Losses	(2.6)	$ (6.5)
Debt and Other Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	10.9
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Gross Unrealized Losses	(1.8)
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Greater, Fair Value	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Greater, Gross Unrealized Losses	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value	10.9
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Gross Unrealized Losses	$ (1.8)

Fair Value Measurement - Narrat

Fair Value Measurement - Narrative (Details) - Level 3 [Member] - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Transfers into Level 3 - assets	$ 0	$ 0
Transfers out of Level 3 - assets	0	0.4
Contingent Consideration Liability [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Transfers into Level 3 - liabilities	0	0
Transfers out of Level 3 - liabilities	$ 0	$ 0

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liability Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Assets [Abstract]
Investment securities, trading	$ 345.7	$ 314.5
Investment securities, available-for-sale	194.1	112.7
Life settlement contracts	11.8	12.8
Total Assets Measured at Fair Value	551.6	440
Liability [Abstract]
Contingent consideration liability	38.7	51
Level 1 [Member]
Assets [Abstract]
Life settlement contracts	0	0
Total Assets Measured at Fair Value	457.7	161.1
Liability [Abstract]
Contingent consideration liability	0	0
Level 2 [Member]
Assets [Abstract]
Life settlement contracts	0	0
Total Assets Measured at Fair Value	61.3	79
Liability [Abstract]
Contingent consideration liability	0	0
Level 3 [Member]
Assets [Abstract]
Life settlement contracts	11.8	12.8
Total Assets Measured at Fair Value	32.6	199.9
Liability [Abstract]
Contingent consideration liability	38.7	51
Sponsored Funds [Member]
Assets [Abstract]
Investment securities, trading	248.1	31.1
Investment securities, available-for-sale	178.6	110.8
Sponsored Funds [Member] | Level 1 [Member]
Assets [Abstract]
Investment securities, trading	248.1	31.1
Investment securities, available-for-sale	178.6	110.8
Sponsored Funds [Member] | Level 2 [Member]
Assets [Abstract]
Investment securities, trading	0	0
Investment securities, available-for-sale	0	0
Sponsored Funds [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	97.6	283.4
Investment securities, available-for-sale	15.5	1.9
Debt and Other Equity Securities [Member] | Level 1 [Member]
Assets [Abstract]
Investment securities, trading	26.6	18.2
Investment securities, available-for-sale	4.4	1
Debt and Other Equity Securities [Member] | Level 2 [Member]
Assets [Abstract]
Investment securities, trading	50.5	78.4
Investment securities, available-for-sale	10.8	0.6
Debt and Other Equity Securities [Member] | Level 3 [Member]
Assets [Abstract]
Investment securities, trading	20.5	186.8
Investment securities, available-for-sale	$ 0.3	$ 0.3

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Changes in Level 3 Assets and Liabilities (Details) - Level 3 [Member] - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of year - assets	$ 296.1	$ 292.6
Total realized and unrealized gains (losses) - assets	30.4	18.9
Purchases - assets	74.2	55.1
Sales - assets	(56.1)	(29)
Settlements - assets	(0.5)	(0.6)
Balance at End of Year - Assets	350	296.1
Change in unrealized gains (losses) included in net income relating to assets and liability held at the end of the year	17.4	28.5
Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of year - assets	199.9	205.1
Acquisition - assets	0	0
Purchases - assets	14.5	5.4
Sales - assets	(2.6)	(17.7)
Settlements - assets	(174)	(4.8)
Transfers out of Level 3 - assets	0	(0.4)
Foreign exchange revaluation and other	(9.7)	3.8
Balance at End of Year - Assets	32.6	199.9
Change in unrealized gains (losses) included in net income relating to assets and liability held at the end of the year	2.1	6
Contingent Consideration Liability [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of year - liabilities	(51)	(98.1)
Acquisition - liabilities	0	(5.7)
Purchases - liability	0	0
Sales - liability	0	0
Settlements - liability	32.4	39
Transfers out of Level 3 - liabilities	0	0
Foreign exchange revaluation and other	(7)	0
Balance at End of Year - Liabilities	(38.7)	(51)
Change in unrealized gains (losses) included in net income relating to assets and liability held at the end of the year	(13.1)	8.1
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	4.5	8.5
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
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
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	$ (13.1)	$ 13.8

Fair Value Measurements - Sch_3

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	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Investment securities, trading	$ 345.7	$ 314.5
Life settlement contracts	11.8	12.8
Contingent consideration liability	38.7	51
Level 3 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Life settlement contracts	11.8	12.8
Contingent consideration liability	38.7	51
Discounted cash flow [Member] | Level 3 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Life settlement contracts	11.8	12.8
Contingent consideration liability	$ 38.7	$ 51
Contingent Consideration Liability [Member] | Minimum [Member] | Discounted cash flow [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
AUM growth rate		1.30%
Contingent Consideration Liability [Member] | Maximum [Member] | Discounted cash flow [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
AUM growth rate		5.30%
Contingent Consideration Liability [Member] | Weighted Average [Member] | Discounted cash flow [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	13.00%	14.60%
AUM growth rate		9.40%
Life settlement contracts [Member] | Minimum [Member] | Discounted cash flow [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	8.00%	8.00%
Life expectancy	20 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	13.10%	13.20%
Life expectancy	61 months	62 months
Life settlement contracts [Member] | Weighted Average [Member] | Discounted cash flow [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	20.00%	20.00%
Life expectancy	115 months	123 months
Debt and Other Equity Securities [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Investment securities, trading	$ 97.6	$ 283.4
Debt and Other Equity Securities [Member] | Level 3 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Investment securities, trading	20.5	186.8
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	$ 20.5	11.1
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		$ 175.7
Debt and Other Equity Securities [Member] | Minimum [Member] | Discounted cash flow [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	4.10%	4.10%
Risk premium	2.00%	2.00%
Debt and Other Equity Securities [Member] | Maximum [Member] | Discounted cash flow [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	5.80%	5.70%
Risk premium	3.60%	2.90%
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	12.30%	6.70%
Risk premium	6.70%	4.10%
Debt and Other Equity Securities [Member] | Weighted Average [Member] | Market pricing [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Redemption price		$ 0.73
Discount rate		18.60%

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments not Measured at Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015
Financial Assets [Abstract]
Cash and cash equivalents	$ 6,910.6	$ 8,749.7	$ 8,483.3	$ 8,368.1
Financial Liability [Abstract]
Debt	699.3	1,049
Carrying Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	6,610.8	8,523.3
Time deposits	12.3	13.4
Cost method investments	81.8	46.7
Financial Liability [Abstract]
Debt	695.9	1,044.2
Estimated Fair Value [Member] | Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	6,610.8	8,523.3
Estimated Fair Value [Member] | Level 2 [Member]
Financial Assets [Abstract]
Time deposits	12.3	13.4
Financial Liability [Abstract]
Debt	671.1	1,073.5
Estimated Fair Value [Member] | Level 3 [Member]
Financial Assets [Abstract]
Cost method investments	$ 103.6	$ 67.7

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Property, Plant and Equipment, Net [Abstract]
Depreciation and amortization expense	$ 78.9	$ 81.5	$ 81
Recognized equipment impairment	$ 6.6

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Property, Plant and Equipment, Net, by Type [Abstract]
Total cost	$ 1,500.8	$ 1,459.8
Less: accumulated depreciation and amortization	(965.8)	(942.6)
Property and Equipment, Net	$ 535	517.2	$ 523.2
Minimum [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property and Equipment, Useful Lives	3 years
Maximum [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property and Equipment, Useful Lives	35 years
Furniture, software and equipment [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Total cost	$ 798.6	804.7
Furniture, software and equipment [Member] | Minimum [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property and Equipment, Useful Lives	3 years
Furniture, software and equipment [Member] | Maximum [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property and Equipment, Useful Lives	10 years
Premises and leasehold improvements [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Total cost	$ 628.1	580.9
Premises and leasehold improvements [Member] | Minimum [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property and Equipment, Useful Lives	5 years
Premises and leasehold improvements [Member] | Maximum [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property and Equipment, Useful Lives	35 years
Land [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Total cost	$ 74.1	$ 74.2

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
impairment of goodwill	$ 0	$ 0	$ 0
Impairment of indefinite-lived intangible assets	0	0	0
Amortization expense definite-lived intangible assets	$ 1.8	3.9	10.4
Definite-lived intangible assets weighted-average remaining useful life	2 years 9 months
Management contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Impairment of definite-lived intangible assets	$ 5.7	$ 9.6	$ 28.2

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Schedule of Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 1,794.8	$ 1,687.2	$ 1,661.2
Indefinite-lived intangible assets	530.7	534
Definite-lived intangible assets, net	7.9	6.5
Goodwill and Other Intangible Assets, Net	$ 2,333.4	$ 2,227.7

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Schedule of Changes in Carrying Value of Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Balance at beginning of year	$ 1,687.2	$ 1,661.2
Acquisitions	117.4	18.8
Foreign exchange revaluation and other	(9.8)	7.2
Balance at End of Year	$ 1,794.8	$ 1,687.2

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Schedule of Definite-Lived Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Finite-Lived Intangible Assets [Line Items]
Net Carrying Value	$ 7.9	$ 6.5
Management contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	54.9	52.4
Accumulated Amortization	(47)	(45.9)
Net Carrying Value	$ 7.9	$ 6.5

Goodwill and Other Intangible_7

Goodwill and Other Intangible Assets - Schedule of Estimated Remaining Amortization Expense (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2,019	$ 3
2,020	3
2,021	1.8
Thereafter	0.1
Net Carrying Value	$ 7.9	$ 6.5

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Millions	May 21, 2018	Sep. 30, 2018	Sep. 30, 2017
Debt Disclosure [Abstract]
Face value of senior unsecured and unsubordinated notes		$ 700
Notes Due May 2020 [Member]
Debt Instrument [Line Items]
Stated interest rate	4.625%		4.625%
Redemption price	$ 361.9
Accelerated interest expense	$ 12.5
Commercial Paper [Member]
Debt Instrument [Line Items]
Commercial paper available for issuance under an uncommitted private placement program		$ 500

Debt - Outstanding Debt (Detail

Debt - Outstanding Debt (Details) - USD ($) $ in Millions	Sep. 30, 2018	May 21, 2018	Sep. 30, 2017
Debt Instrument [Line Items]
Senior notes	$ 699.3		$ 1,049
Debt issuance costs	(3.4)		(4.8)
Total	695.9		1,044.2
Notes Due May 2020 [Member]
Debt Instrument [Line Items]
Face value of senior notes			$ 350
Stated interest rate		4.625%	4.625%
Senior notes	0		$ 349.9
Effective Interest Rate			4.74%
Notes Due September 2022 [Member]
Debt Instrument [Line Items]
Face value of senior notes	$ 300
Stated interest rate	2.80%
Senior notes	$ 299.7		$ 299.6
Effective Interest Rate	2.93%		2.93%
Notes Due March 2025 [Member]
Debt Instrument [Line Items]
Face value of senior notes	$ 400
Stated interest rate	2.85%
Senior notes	$ 399.6		$ 399.5
Effective Interest Rate	2.97%		2.97%

Consolidated Investment Produ_3

Consolidated Investment Products - Narrative (Details) $ in Millions	12 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)
Consolidated Investment Products [Abstract]
Number of consolidated investment products	53	58
Schedule Of Consolidated Investment Products [Line Items]
Debt	$ 695.9	$ 1,044.2
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Transfers into Level 3 - assets	0	0
Transfers out of Level 3 - assets	0	0
Transfers into Level 3 - liabilities	0	0
Transfers out of Level 3 - liabilities	0	0
CIPs' unfunded commitments	1.9	1.9
Unfunded commitments Company contractually obligated to fund	0.4	0.4
Debt	$ 32.6	$ 53.4
Effective Interest Rate	6.79%	5.15%
CIPs [Member] | Real Estate and Private Equity Funds [Member]
Schedule Of Consolidated Investment Products [Line Items]
Liquidation weighted average period	3 years 6 months	4 years 5 months
CIPs [Member] | Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Stated interest rate	3.07%	2.84%
CIPs [Member] | Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Stated interest rate	7.88%	6.75%

Consolidated Investment Produ_4

Consolidated Investment Products - Schedule of Balances of CIPs (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015
Assets [Abstract]
Cash and cash equivalents	$ 6,910.6	$ 8,749.7	$ 8,483.3	$ 8,368.1
Receivables	733.7	767.8
Investments, at fair value	551.6	440
Other assets	220.7	176.5
Total Assets	14,383.5	17,534
Liabilities [Abstract]
Accounts payable and accrued expenses	158.9	167.4
Debt	695.9	1,044.2
Other liabilities	184.1	198.7
Total liabilities	3,132	2,656.3
Redeemable Noncontrolling Interests	1,043.6	1,941.9	61.1	59.6
Stockholders' Equity [Abstract]
Franklin Resources, Inc.’s interests	9,899.2	12,620
Nonredeemable noncontrolling interests	308.7	315.8
Total stockholders’ equity	10,207.9	12,935.8	$ 12,528.2	$ 12,495.8
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	14,383.5	17,534
CIPs [Member]
Assets [Abstract]
Cash and cash equivalents	299.8	226.4
Receivables	114.2	234.1
Investments, at fair value	2,109.4	3,467.4
Other assets	1	0.9
Total Assets	2,524.4	3,928.8
Liabilities [Abstract]
Accounts payable and accrued expenses	68	124.1
Debt	32.6	53.4
Other liabilities	9.3	8.7
Total liabilities	109.9	186.2
Redeemable Noncontrolling Interests	1,043.6	1,941.9
Stockholders' Equity [Abstract]
Franklin Resources, Inc.’s interests	1,092.6	1,511.8
Nonredeemable noncontrolling interests	278.3	288.9
Total stockholders’ equity	1,370.9	1,800.7
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	$ 2,524.4	$ 3,928.8

Consolidated Investment Produ_5

Consolidated Investment Products - Schedule of Investments of CIPs (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Schedule Of Consolidated Investment Products [Line Items]
Investment securities, trading	$ 345.7	$ 314.5
Other investments	105.9	72.9
Fair value	551.6	440
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investment securities, trading	1,651.8	3,017.2
Fair value	2,109.4	3,467.4
Equity Securities [Member] | CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Other investments	311	306.9
Debt Securities [Member] | CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Other investments	$ 146.6	$ 143.3

Consolidated Investment Produ_6

Consolidated Investment Products - Schedule of Balances of Assets and Liabilities of CIPs Measured at Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Assets [Abstract]
Investments, at fair value	$ 551.6	$ 440
Total Assets Measured at Fair Value	551.6	440
Level 1 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	457.7	161.1
Level 2 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	61.3	79
Level 3 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	32.6	199.9
CIPs [Member]
Assets [Abstract]
Investments, at fair value	2,109.4	3,467.4
Fair Value, Measurements, Recurring [Member] | CIPs [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	2,109.4	3,467.4
Liability [Abstract]
Other liabilities	9.3	8.7
NAV as a Practical Expedient	113.8	155.2
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 1 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	271.3	332.8
Liability [Abstract]
Other liabilities	0.6	0.4
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 2 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	1,374.3	2,683.3
Liability [Abstract]
Other liabilities	8.7	8.3
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	350	296.1
Liability [Abstract]
Other liabilities	0	0
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member]
Assets [Abstract]
Investments, at fair value	739	775.4
Liability [Abstract]
NAV as a Practical Expedient	113.8	155.2
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 1 [Member]
Assets [Abstract]
Investments, at fair value	270.7	331.4
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 2 [Member]
Assets [Abstract]
Investments, at fair value	154.8	128.1
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member]
Assets [Abstract]
Investments, at fair value	199.7	160.7
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member]
Assets [Abstract]
Investments, at fair value	1,370.4	2,692
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 1 [Member]
Assets [Abstract]
Investments, at fair value	0.6	1.4
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 2 [Member]
Assets [Abstract]
Investments, at fair value	1,219.5	2,555.2
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member]
Assets [Abstract]
Investments, at fair value	$ 150.3	$ 135.4

Consolidated Investment Produ_7

Consolidated Investment Products - Schedule of Changes in Level 3 Assets of CIPs (Details) - Level 3 [Member] - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of year - assets	$ 296.1	$ 292.6
Realized and unrealized gains (losses) included in investment and other income, net	30.4	18.9
Purchases	74.2	55.1
Sales	(56.1)	(29)
Settlements	(0.5)	(0.6)
Consolidation	7
Foreign exchange revaluation	(1.1)	5
Balance at End of Year - Assets	350	296.1
Change in unrealized gains (losses) included in net income relating to assets held at end of year	17.4	28.5
Equity Securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of year - assets	160.7	160.3
Realized and unrealized gains (losses) included in investment and other income, net	26.2	19.2
Purchases	32	30.4
Sales	(17.5)	(6.7)
Settlements	0	0
Consolidation	0
Foreign exchange revaluation	(1.7)	2.9
Balance at End of Year - Assets	199.7	160.7
Change in unrealized gains (losses) included in net income relating to assets held at end of year	17.3	29.4
Debt Securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of year - assets	135.4	132.3
Realized and unrealized gains (losses) included in investment and other income, net	4.2	(0.3)
Purchases	42.2	24.7
Sales	(38.6)	(22.3)
Settlements	(0.5)	(0.6)
Consolidation	7
Foreign exchange revaluation	0.6	2.1
Balance at End of Year - Assets	150.3	135.4
Change in unrealized gains (losses) included in net income relating to assets held at end of year	$ 0.1	(0.9)
ASU 2015-02 [Member]
Schedule Of Consolidated Investment Products [Line Items]
Adoption of new accounting guidance		(45.9)
ASU 2015-02 [Member] | Equity Securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Adoption of new accounting guidance		(45.4)
ASU 2015-02 [Member] | Debt Securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Adoption of new accounting guidance		$ (0.5)

Consolidated Investment Produ_8

Consolidated Investment Products - Schedule of Valuation Techniques and Significant Unobservable Inputs used in Level 3 Fair Value Measurements (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value	$ 551.6	$ 440
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value	$ 2,109.4	$ 3,467.4
Equity Securities [Member] | Minimum [Member] | Market comparable companies [Member]
Schedule Of Consolidated Investment Products [Line Items]
EBITDA multiple	5	5.5
Equity Securities [Member] | Minimum [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Discount rate	8.00%	5.70%
Equity Securities [Member] | Maximum [Member] | Market comparable companies [Member]
Schedule Of Consolidated Investment Products [Line Items]
EBITDA multiple	13.6	12.3
Equity Securities [Member] | Maximum [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Discount rate	16.50%	17.90%
Equity Securities [Member] | Weighted Average [Member] | Market comparable companies [Member]
Schedule Of Consolidated Investment Products [Line Items]
EBITDA multiple	9.3	9
Equity Securities [Member] | Weighted Average [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Discount rate	14.10%	14.30%
Equity Securities [Member] | Weighted Average [Member] | Market pricing [Member]
Schedule Of Consolidated Investment Products [Line Items]
Price to earnings ratio		$ 10
Equity Securities [Member] | CIPs [Member] | Level 3 [Member] | Market comparable companies [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value	$ 171.9	$ 101.9
Equity Securities [Member] | CIPs [Member] | Level 3 [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value	$ 27.8	44.4
Equity Securities [Member] | CIPs [Member] | Level 3 [Member] | Market pricing [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		$ 14.4
Debt Securities [Member] | Minimum [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Discount rate	7.00%	5.00%
Risk premium		0.00%
Debt Securities [Member] | Minimum [Member] | Market pricing [Member]
Schedule Of Consolidated Investment Products [Line Items]
Private sale pricing		$ 0.33
Debt Securities [Member] | Maximum [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Discount rate	14.80%	33.00%
Risk premium		25.00%
Debt Securities [Member] | Maximum [Member] | Market pricing [Member]
Schedule Of Consolidated Investment Products [Line Items]
Private sale pricing		$ 0.57
Debt Securities [Member] | Weighted Average [Member] | Market comparable companies [Member]
Schedule Of Consolidated Investment Products [Line Items]
EBITDA multiple	20.9
Price to earnings ratio	$ 10
Debt Securities [Member] | Weighted Average [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Discount rate	10.80%	9.50%
Risk premium		8.40%
Debt Securities [Member] | Weighted Average [Member] | Market pricing [Member]
Schedule Of Consolidated Investment Products [Line Items]
Private sale pricing	$ 0.42	$ 0.52
Debt Securities [Member] | CIPs [Member] | Level 3 [Member] | Market comparable companies [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value	$ 33.9
Debt Securities [Member] | CIPs [Member] | Level 3 [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value	78.7	$ 112.7
Debt Securities [Member] | CIPs [Member] | Level 3 [Member] | Market pricing [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value	$ 5.4	$ 22.7
Other Debt Obligations [Member] | Minimum [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Discount rate	3.00%
Other Debt Obligations [Member] | Maximum [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Discount rate	22.70%
Other Debt Obligations [Member] | Weighted Average [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Discount rate	12.00%
Other Debt Obligations [Member] | CIPs [Member] | Level 3 [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value	$ 32.3

Consolidated Investment Produ_9

Consolidated Investment Products - Schedule of Financial Instruments of CIPs not Measured at Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015
Financial Assets [Abstract]
Cash and cash equivalents	$ 6,910.6	$ 8,749.7	$ 8,483.3	$ 8,368.1
Financial Liability [Abstract]
Debt	695.9	1,044.2
CIPs [Member]
Financial Assets [Abstract]
Cash and cash equivalents	299.8	226.4
Financial Liability [Abstract]
Debt	32.6	53.4
Carrying Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	6,610.8	8,523.3
Carrying Value [Member] | CIPs [Member]
Financial Assets [Abstract]
Cash and cash equivalents	299.8	226.4
Financial Liability [Abstract]
Debt	32.6	53.4
Estimated Fair Value [Member] | Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	6,610.8	8,523.3
Estimated Fair Value [Member] | CIPs [Member] | Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	299.8	226.4
Estimated Fair Value [Member] | CIPs [Member] | Level 3 [Member]
Financial Liability [Abstract]
Debt	$ 32.4	$ 53.1

Consolidated Investment Prod_10

Consolidated Investment Products - Schedule of Redeemable Noncontrolling Interests of CIPs (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016	Oct. 01, 2016
Temporary Equity [Line Items]
Balance at beginning of year	$ 1,941.9	$ 61.1	$ 59.6
Net income (loss)	(12.8)	53	1.6
Net subscriptions and other	(6)	17.3	(91.8)
Net consolidations (deconsolidations)	2.4	(9.3)
Balance at End of Year	1,043.6	1,941.9	61.1
Redeemable Noncontrolling Interests [Member]
Temporary Equity [Line Items]
Net subscriptions and other	170.9	884.3	79.9
Net consolidations (deconsolidations)	$ (1,056.4)	$ 118.8	(80)
ASU 2015-02 [Member]
Temporary Equity [Line Items]
Adoption of new accounting guidance			$ (325.9)
ASU 2015-02 [Member] | Redeemable Noncontrolling Interests [Member]
Temporary Equity [Line Items]
Adoption of new accounting guidance				$ 824.7

Nonconsolidated Variable Inte_3

Nonconsolidated Variable Interest Entities - Narrative (Details) - Nonconsolidated VIEs [Member] $ in Millions	Jul. 31, 2018USD ($)	Sep. 30, 2018
Variable Interest Entity [Line Items]
Number of sponsored funds		2
Debt and Other Equity Securities [Member]
Variable Interest Entity [Line Items]
Purchase of certain equity and debt securities	$ 32.6

Nonconsolidated Variable Inte_4

Nonconsolidated Variable Interest Entities (Details) - Nonconsolidated VIEs [Member] - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Variable Interest Entity [Line Items]
Maximum exposure to loss	$ 301.9	$ 284.9
Investments [Member]
Variable Interest Entity [Line Items]
Maximum exposure to loss	161.8	129.3
Receivables [Member]
Variable Interest Entity [Line Items]
Maximum exposure to loss	$ 140.1	$ 155.6

Taxes on Income - Narrative (De

Taxes on Income - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Income Tax Examination [Line Items]
Federal statutory rate			24.50%	35.00%	35.00%
Tax shortfall from stock-based compensation				$ 8.7	$ 5.9
Impact of reduced rates on income tax expense			$ 31.3	$ 28.8	$ 34.2
Impact of reduced rates on income tax expense, per diluted share			$ 0.06	$ 0.05	$ 0.06
Valuation allowance			$ 2.3	$ 0.6
Accrued interest on uncertain tax positions	$ 11.3		11.3	10.4
Interest expense (benefit)			0.9	$ 1.6	$ (1.3)
Estimated decrease in unrecognized tax benefits within the next twelve months	16.4		16.4
Foreign Tax Authority [Member]
Income Tax Examination [Line Items]
Operating loss carry-forwards	153.2		153.2
State [Member]
Income Tax Examination [Line Items]
Operating loss carry-forwards	32.3		32.3
Tax Cuts and Jobs Act [Member]
Income Tax Examination [Line Items]
Estimated transition tax expense (benefit)	87.6		(983.2)
Net tax benefit			53.3
Decrease in deferred tax assets			35.6
Decrease in deferred tax liabilities			88.9
Tax Cuts and Jobs Act [Member] | Domestic Tax Authority [Member]
Income Tax Examination [Line Items]
Estimated transition tax expense (benefit)			$ (965.3)
Scenario, Forecast [Member]
Income Tax Examination [Line Items]
Federal statutory rate		21.00%
First Five Years [Member]
Income Tax Examination [Line Items]
Federal portion of the transition tax liability, payment percentage			8.00%
Year Six [Member]
Income Tax Examination [Line Items]
Federal portion of the transition tax liability, payment percentage			15.00%
Year Seven [Member]
Income Tax Examination [Line Items]
Federal portion of the transition tax liability, payment percentage			20.00%
Year Eight [Member]
Income Tax Examination [Line Items]
Federal portion of the transition tax liability, payment percentage			25.00%
Expire between FY 2019 and 2038, remaining with indefinite life [Member] | Foreign Tax Authority [Member]
Income Tax Examination [Line Items]
Operating loss carry-forwards	$ 78.2		$ 78.2
ASU 2018-02 [Member]
Income Tax Examination [Line Items]
Adoption of new accounting guidance			0.1
ASU 2018-02 [Member] | Unrealized Losses on Defined Benefit Plans [Member]
Income Tax Examination [Line Items]
Adoption of new accounting guidance			$ 0.1

Taxes on Income - Schedule of T

Taxes on Income - Schedule of Taxes on Income (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Current expense [Abstract]
Federal	$ 1,343.7	$ 585	$ 582.8
State	38	65.3	47.5
Non-U.S.	141.1	100.2	102.8
Deferred expense (benefit)	(50.3)	8.9	9
Total	$ 1,472.5	$ 759.4	$ 742.1

Taxes on Income - Schedule of I

Taxes on Income - Schedule of Income Before Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
U.S.	$ 1,458.1	$ 1,594.5	$ 1,641.7
Non-U.S.	757.1	954.6	858.1
Total	$ 2,215.2	$ 2,549.1	$ 2,499.8

Taxes on Income - Components of

Taxes on Income - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Deferred Tax Assets [Abstract]
Deferred compensation and employee benefits	$ 33.1	$ 60.2
Stock-based compensation	21.9	36.1
Net operating loss carry-forwards	31.8	28.4
Tax benefit for uncertain tax positions	10	17.9
Other	18.7	23.9
Total deferred tax assets	115.5	166.5
Valuation allowance	(27.5)	(25.2)
Deferred tax assets, net of valuation allowance	88	141.3
Deferred Tax Liabilities [Abstract]
Goodwill and other purchased intangibles	142.2	205.2
Depreciation on fixed assets	20.9	35.3
Investments in partnerships	16.4	26
Deferred commissions	9	15
Other	8.7	14.6
Total deferred tax liabilities	197.2	296.1
Net Deferred Tax Liability	$ 109.2	$ 154.8

Taxes on Income - Components _2

Taxes on Income - Components of Net Deferred Tax Liability as Classified in the Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Other assets	$ 17.3	$ 15.8
Deferred tax liabilities	126.5	170.6
Net Deferred Tax Liability	$ 109.2	$ 154.8

Taxes on Income - Reconciliatio

Taxes on Income - Reconciliation of the Amount of Tax Expense at the Federal Statutory Rate and Taxes on Income (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Federal taxes at statutory rate		$ 542.7	$ 892.2	$ 874.9
Federal statutory rate		24.50%	35.00%	35.00%
State taxes, net of federal tax effect		$ 16.6	$ 41.4	$ 42.7
State taxes, net of federal tax effect rate		0.70%	1.60%	1.70%
Effect of non-U.S. operations		$ (61.9)	$ (146.2)	$ (153)
Effect of non-U.S. operation rate		(2.80%)	(5.70%)	(6.10%)
Effect of net (income) loss attributable to noncontrolling interests		$ 5.3	$ (32.6)	$ (10.9)
Effect of net income attributable to noncontrolling interest rate		0.20%	(1.30%)	(0.40%)
Other		$ 1	$ 4.6	$ (11.6)
Other rate		0.10%	0.20%	(0.50%)
Tax Provision		$ 1,472.5	$ 759.4	$ 742.1
Effective Tax Rate		66.50%	29.80%	29.70%
Tax Cuts and Jobs Act [Member]
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Transition tax on deemed repatriation of undistributed foreign earnings	$ (87.6)	$ 983.2
Transition tax on deemed repatriation of undistributed foreign earnings rate		44.40%
Revaluation of net deferred tax liabilities		$ (53.3)
Revaluation of net deferred tax liabilities rate		(2.40%)
Other		$ 38.9
Other rate		1.80%

Taxes on Income - Reconciliat_2

Taxes on Income - Reconciliation of Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 81.1	$ 82.1	$ 105.2
Additions for tax positions of prior years	3.6	6.6	0.6
Reductions for tax positions of prior years	(6.6)	(1.3)	(9)
Tax positions related to the current year	11.6	11.6	12.9
Settlements with taxing authorities	0	(5.2)	(5.4)
Expirations of statute of limitations	(12.2)	(12.7)	(22.2)
Balance at End of Year	$ 77.5	$ 81.1	$ 82.1

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Lease expense	$ 55.9	$ 56.3	$ 69.3
Sublease income	0.2	$ 0.4	$ 1.6
Future minimum rentals to be received under non-cancelable subleases	0.2
Committed capital contributions	299
Plaintiff Cryer 401K Plan [Member]
Loss Contingencies [Line Items]
The plaintiff alleges that Plan losses exceed	79
Plaintiff Fernandez 401K Plan [Member]
Loss Contingencies [Line Items]
The plaintiff alleges that Plan losses exceed	$ 60

Commitments and Contingencies_2

Commitments and Contingencies - Future Minimum Lease Payments under Long-Term Non-Cancelable Operating Leases (Details) $ in Millions	Sep. 30, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,019	$ 46.6
2,020	42.2
2,021	37.8
2,022	33.1
2,023	32.6
Thereafter	175.1
Total Minimum Lease Payments	$ 367.4

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation [Abstract]
Number of shares authorized for issuance under the USIP	120
Number of shares available for grant under USIP	18.4
Unrecognized compensation expense related to nonvested stock and stock unit awards	$ 120.2
Remaining weighted-average vesting period	1 year 7 months
Weighted-average grant-date fair values of stock awards and stock unit awards granted	$ 42.63	$ 34.23	$ 40.88
Fair value of stock awards and stock unit awards vested	$ 91.5	$ 104	$ 92.8
Total shares issued under ESIP	0.8
Shares reserved for future issuance under ESIP	2.8

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock-Based Compensation Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expenses	$ 117.8	$ 123.4	$ 131.5
Employee stock investment plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expenses	6.2	6.4	6.2
Stock and stock unit awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expenses	$ 111.6	$ 117	$ 125.3

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Stock and Stock Unit Award Activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested balance at September 30, 2017	4,544
Granted	2,995
Vested	(2,642)
Forfeited/canceled	(406)
Nonvested balance at September 30, 2018	4,491	4,544
Nonvested beginning balance, Weighted Average Grant Date Fair Value	$ 37.23
Weighted Average Grant Date Fair Value of shares granted	42.63	$ 34.23	$ 40.88
Weighted Average Grant Date Fair Value of shares vested	39.18
Weighted Average Grant Date Fair Value of shares forfeited/canceled	43.84
Nonvested ending balance, Weighted Average Grant Date Fair Value	$ 39.08	$ 37.23
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 September 30, 2017	2,783
Granted	2,271
Vested	(2,126)
Forfeited/canceled	(250)
Nonvested balance at September 30, 2018	2,678	2,783
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 September 30, 2017	1,761
Granted	724
Vested	(516)
Forfeited/canceled	(156)
Nonvested balance at September 30, 2018	1,813	1,761

Defined Contribution Plans - Na

Defined Contribution Plans - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Retirement Benefits [Abstract]
Participants annual maximum contribution to defined contribution plan, pre-tax	50.00%
Percentage of annual bonus eligible for defined contribution to plan	100.00%
Expenses recognized for defined contribution plans	$ 49.8	$ 45.5	$ 46.8

Segment and Geographic Inform_3

Segment and Geographic Information - Narrative (Details)	12 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Number of operating segments	1

Segment and Geographic Inform_4

Segment and Geographic Information - Schedule of Operating Revenues, Property and Equipment by Geographic Areas (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating Revenues	$ 6,319.1	$ 6,392.2	$ 6,618
Property and Equipment, Net	535	517.2	523.2
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating Revenues	3,722.1	3,898.4	4,063.6
Property and Equipment, Net	465.4	426.1	428
Luxembourg [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating Revenues	1,730.6	1,652.8	1,707.9
Asia-Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating Revenues	297.4	281	267.9
Property and Equipment, Net	42.1	60.2	62.9
Canada [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating Revenues	250.3	260.8	273.8
Property and Equipment, Net	3.7	5.3	3.1
The Bahamas [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating Revenues	208.1	205.9	204.6
Property and Equipment, Net	12.8	13.4	14.3
Europe, Middle East and Africa, excluding Luxembourg [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating Revenues	97	83.2	94
Europe, Middle East and Africa [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and Equipment, Net	10.1	12.2	14.9
Latin America [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating Revenues	13.6	10.1	6.2
Property and Equipment, Net	$ 0.9	$ 0	$ 0

Other Income (Expenses) - Narra

Other Income (Expenses) - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Other Income and Expenses [Abstract]
Proceeds from the sale of available-for-sale securities	$ 85.5	$ 51.6	$ 269.4
Net gains (losses) recognized on trading investment securities	(1.7)	5	27.9
Net gains (losses) recognized on trading investment securities of CIPs	$ (24.5)	$ 21.9	$ 9.4

Other Income (Expenses) - Sched

Other Income (Expenses) - Schedule of Other Income (Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Other Income and Expenses [Abstract]
Interest income	$ 76.5	$ 74.9	$ 36.5
Dividend income	51.1	13.9	20.6
Gains on trading investment securities, net	1.1	12.2	50.1
Realized gains on sale of investment securities, available-for-sale	4.2	5.6	32.1
Realized losses on sale of investment securities, available-for-sale	(1.2)	(1.6)	(3.2)
Income from investments in equity method investees	44.4	107.9	56.7
Other-than-temporary impairment of investments	(1.7)	(0.8)	(11.1)
Gains (losses) on investments of CIPs, net	(55)	118.2	(13.5)
Foreign currency exchange gains (losses), net	0.6	(16)	(2.9)
Rental income	15.9	11.1	11
Other, net	9.4	10.9	7.7
Total	145.3	336.3	184
Interest Expense	(48.7)	(51.5)	(49.9)
Other Income, Net	$ 96.6	$ 284.8	$ 134.1

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income (Loss) by Component (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016	Oct. 01, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	$ (284.8)	$ (347.4)
Other comprehensive income (loss) before reclassifications, net of tax	(76.7)	74
Reclassifications to net investment and other income, net of tax	(9)	(4.3)
Total other comprehensive income (loss)	(85.7)	69.7	$ (33.2)
Balance at end of period	(370.6)	(284.8)	(347.4)
Unrealized Gains on Investments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	2.2	6.8
Other comprehensive income (loss) before reclassifications, net of tax	7.3	6.5
Reclassifications to net investment and other income, net of tax	(3)	(4.3)
Total other comprehensive income (loss)	4.3	2.2
Balance at end of period	6.5	2.2	6.8
Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(281)	(346.1)
Other comprehensive income (loss) before reclassifications, net of tax	(85.5)	65.4
Reclassifications to net investment and other income, net of tax	(6.4)	0
Total other comprehensive income (loss)	(91.9)	65.4
Balance at end of period	(372.9)	(281)	(346.1)
Unrealized Losses on Defined Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(6)	(8.1)
Other comprehensive income (loss) before reclassifications, net of tax	1.5	2.1
Reclassifications to net investment and other income, net of tax	0.4	0
Total other comprehensive income (loss)	1.9	2.1
Balance at end of period	(4.2)	(6)	(8.1)
AOCI Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total other comprehensive income (loss)	(85.7)	$ 69.7	(33.2)
ASU 2018-02 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Adoption of new accounting guidance	(0.1)
ASU 2018-02 [Member] | Unrealized Losses on Defined Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Adoption of new accounting guidance	$ (0.1)
ASU 2015-02 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Adoption of new accounting guidance			(325.9)
ASU 2015-02 [Member] | Unrealized Gains 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] | AOCI Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Adoption of new accounting guidance			$ (7.1)	$ (7.1)

Subsequent Event - Narrative (D

Subsequent Event - Narrative (Details) - Benefit Street Partners L.L.C. [Member] - Subsequent Event [Member] $ in Millions	Oct. 24, 2018USD ($)
Subsequent Event [Line Items]
Purchase consideration in cash	$ 683
Amount of purchase consideration will be used to retire debt	$ 130