Franklin Resources (BEN) 10-Q 30 Jan 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Dec. 31, 2018	Jan. 23, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	Franklin Resources Inc
Entity Central Index Key	38,777
Current Fiscal Year End Date	--09-30
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		509,510,446

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Operating Revenues
Investment management fees	$ 971.8	$ 1,113.6
Sales and distribution fees	354.8	417.8
Shareholder servicing fees	55.1	54.9
Other	29.8	29.2
Total operating revenues	1,411.5	1,615.5
Operating Expenses
Sales, distribution and marketing	444.5	528.7
Compensation and benefits	355	332.5
Information systems and technology	60.9	55
Occupancy	31.2	29.4
General, administrative and other	108.4	88.8
Total operating expenses	1,000	1,034.4
Operating Income	411.5	581.1
Other Income (Expenses)
Investment and other income (losses), net	(59.1)	81.3
Interest expense	(6.4)	(10.8)
Other income (expenses), net	(65.5)	70.5
Income before taxes	346	651.6
Taxes on income	86	1,223.5
Net income (loss)	260	(571.9)
Less: net income (loss) attributable to
Nonredeemable noncontrolling interests	(0.5)	(0.1)
Redeemable noncontrolling interests	(15.4)	11.5
Net Income (Loss) Attributable to Franklin Resources, Inc.	$ 275.9	$ (583.3)
Earnings (Loss) per Share
Basic	$ 0.54	$ (1.06)
Diluted	$ 0.54	$ (1.06)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ 260	$ (571.9)
Other Comprehensive Income (Loss)
Currency translation adjustments, net of tax	(14.6)	15.8
Net unrealized losses on defined benefit plans, net of tax	(0.4)	(1.1)
Net unrealized gains on investments, net of tax	0	3.5
Total other comprehensive income (loss)	(15)	18.2
Total comprehensive income (loss)	245	(553.7)
Less: comprehensive income (loss) attributable to
Nonredeemable noncontrolling interests	(0.5)	(0.1)
Redeemable noncontrolling interests	(15.4)	11.5
Comprehensive Income (Loss) Attributable to Franklin Resources, Inc.	$ 260.9	$ (565.1)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Assets
Cash and cash equivalents	$ 6,658.9	$ 6,910.6
Receivables	723.9	733.7
Investments	1,385.9	1,426.5
Investments, at fair value	522.4	551.6
Property and equipment, net	541.3	535
Goodwill and other intangible assets, net	2,326.2	2,333.4
Other	192.5	220.7
Total Assets	13,950.6	14,383.5
Liabilities
Compensation and benefits	218.9	405.6
Accounts payable and accrued expenses	180.5	158.9
Dividends	139.2	127.7
Commissions	259.4	297.9
Income taxes	1,071.9	1,034.8
Debt	697.7	695.9
Deferred taxes	132.6	126.5
Other	179.8	184.1
Total liabilities	2,941.6	3,132
Commitments and Contingencies (Note 10)
Redeemable Noncontrolling Interests	932.3	1,043.6
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; 511,482,401 and 519,122,574 shares issued and outstanding at December 31, 2018 and September 30, 2018	51.1	51.9
Retained earnings	10,087.9	10,217.9
Accumulated other comprehensive loss	(393.6)	(370.6)
Total Franklin Resources, Inc. stockholders’ equity	9,745.4	9,899.2
Nonredeemable noncontrolling interests	331.3	308.7
Total stockholders’ equity	10,076.7	10,207.9
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	13,950.6	14,383.5
Consolidated Investment Products [Member]
Assets
Cash and cash equivalents	228.2	299.8
Receivables	81.7	114.2
Investments, at fair value	2,040.2	2,109.4
Other	0	1
Total Assets	2,350.1	2,524.4
Liabilities
Accounts payable and accrued expenses	28.9	68
Debt	32.7	32.6
Other	0	9.3
Total liabilities	61.6	109.9
Redeemable Noncontrolling Interests	932.3	1,043.6
Stockholders’ Equity
Total Franklin Resources, Inc. stockholders’ equity	1,052.1	1,092.6
Nonredeemable noncontrolling interests	304.1	278.3
Total stockholders’ equity	1,356.2	1,370.9
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	2,350.1	2,524.4
Franklin Resources, Inc. [Member]
Assets
Cash and cash equivalents	$ 6,430.7	$ 6,610.8

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Statement of Financial Position [Abstract]
Investments, at fair value	$ 522.4	$ 551.6
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.1	$ 0.1
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	511,482,401	519,122,574
Common stock, shares outstanding	511,482,401	519,122,574

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]
Stockholders' Equity [Roll Forward]
Adoption of new accounting guidance | ASU 2016-09 [Member]	$ 0.4		$ 2.1	$ (1.7)		$ 0.4
Beginning balance - Shares at Sep. 30, 2017		554.9
Beginning balance at Sep. 30, 2017		$ 55.5	0	12,849.3	$ (284.8)	12,620
Beginning balance at Sep. 30, 2017							$ 315.8
Beginning balance at Sep. 30, 2017	12,935.8
Stockholders' Equity [Roll Forward]
Net income (loss)	(583.3)			(583.3)		(583.3)
Nonredeemable noncontrolling interests	(0.1)						(0.1)
Net income (loss)	(583.4)
Other comprehensive income (loss)	18.2				18.2	18.2
Dividends declared on common stock	(127.4)			(127.4)		(127.4)
Repurchase of common stock - Shares		(4.6)
Repurchase of common stock - Amount	(200)	$ (0.5)	(32.1)	(167.4)		(200)
Issuance of common stock - Shares		2.1
Issuance of common stock - Amount	27.8	$ 0.2	27.6			27.8
Stock-based compensation	2.4		2.4			2.4
Net subscriptions and other	7						7
Deconsolidation of investment product	(0.3)						(0.3)
Ending balance - Shares at Dec. 31, 2017		552.4
Ending balance at Dec. 31, 2017		$ 55.2	0	11,969.5	(266.6)	11,758.1
Ending balance at Dec. 31, 2017							322.4
Ending balance at Dec. 31, 2017	12,080.5
Stockholders' Equity [Roll Forward]
Adoption of new accounting guidance | ASU 2014-09 and 2016-01 [Member]	14.9			22.9		14.9
Adoption of new accounting guidance | ASU 2016-01 [Member]					(8)
Beginning balance - Shares at Sep. 30, 2018		519.1
Beginning balance at Sep. 30, 2018	9,899.2	$ 51.9	0	10,217.9	(370.6)	9,899.2
Beginning balance at Sep. 30, 2018	308.7						308.7
Beginning balance at Sep. 30, 2018	10,207.9
Stockholders' Equity [Roll Forward]
Net income (loss)	275.9			275.9		275.9
Nonredeemable noncontrolling interests	(0.5)						(0.5)
Net income (loss)	275.4
Other comprehensive income (loss)	(15)				(15)	(15)
Dividends declared on common stock	(133.8)			(133.8)		(133.8)
Repurchase of common stock - Shares		(10.7)
Repurchase of common stock - Amount	(326.9)	$ (1.1)	(30.8)	(295)		(326.9)
Issuance of common stock - Shares		3.1
Issuance of common stock - Amount	33.9	$ 0.3	33.6			33.9
Stock-based compensation	(2.8)		(2.8)			(2.8)
Net subscriptions and other	23.1						23.1
Ending balance - Shares at Dec. 31, 2018		511.5
Ending balance at Dec. 31, 2018	9,745.4	$ 51.1	$ 0	$ 10,087.9	$ (393.6)	$ 9,745.4
Ending balance at Dec. 31, 2018	331.3						$ 331.3
Ending balance at Dec. 31, 2018	$ 10,076.7

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Statement of Stockholders' Equity [Abstract]
Dividends declared per share	$ 0.26	$ 0.23

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Net cash provided by operating activities
Net Income (Loss)	$ 260	$ (571.9)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization of deferred sales commissions	21.7	19.1
Depreciation and other amortization	20.3	20.9
Stock-based compensation	31.2	30.3
Losses (income) from investments in equity method investees	37.6	(35.2)
Net gains on investments of consolidated investment products	(2)	(4.7)
Deferred income taxes	11.5	(49.9)
Other	8.7	5.3
Changes in operating assets and liabilities:
Decrease (increase) in receivables and other assets	43.1	(33.8)
Decrease (increase) in receivables of consolidated investment products	19.5	(94.8)
Decrease in trading securities, net	105.8	18.6
Increase in trading securities of consolidated investment products, net	(88.7)	(187.1)
Decrease in accrued compensation and benefits	(186)	(186.1)
Increase (decrease) in commissions payable	(38.5)	9.1
Increase in income taxes payable	37.1	1,232
Increase in accounts payable, accrued expenses and other liabilities	15.4	1.5
Increase (decrease) in accounts payable and accrued expenses of consolidated investment products	(30.7)	147.1
Net cash provided by operating activities	266	320.4
Net cash used in investing activities
Purchase of investments	(115.7)	(39.7)
Liquidation of investments	73.2	33.9
Purchase of investments by consolidated investment products	(18.2)	(11)
Liquidation of investments by consolidated investment products	7	22.5
Additions of property and equipment, net	(25.7)	(19.2)
Net deconsolidation of investment products	(30.9)	(45.1)
Net cash used in investing activities	(110.3)	(58.6)
Net cash used in financing activities
Dividends paid on common stock	(122.3)	(111.7)
Repurchase of common stock	(321.4)	(198.7)
Proceeds from loan	1.7	0
Payments on debt by consolidated investment products	0	(2.4)
Noncontrolling interests	45.9	261.7
Net cash used in financing activities	(396.1)	(51.1)
Effect of exchange rate changes on cash and cash equivalents	(11.3)	10
Increase (decrease) in cash and cash equivalents	(251.7)	220.7
Cash and cash equivalents, beginning of period	6,910.6	8,749.7
Cash and Cash Equivalents, End of Period	6,658.9	8,970.4
Supplemental Disclosure of Cash Flow Information
Cash paid for income taxes	35.8	38.8
Cash paid for interest	6	14.1
Cash paid for interest by consolidated investment products	$ 0.5	$ 0.7

Basis of Presentation

Basis of Presentation	3 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The unaudited interim financial statements of Franklin Resources, Inc. (“Franklin”) and its consolidated subsidiaries (collectively, the “Company”) included herein have been prepared by the Company in accordance with the instructions to Form 10-Q and the rules and regulations of the U.S. Securities and Exchange Commission. Under these rules and regulations, some information and footnote disclosures normally included in financial statements prepared under accounting principles generally accepted in the United States of America have been shortened or omitted. Management believes that all adjustments necessary for a fair statement of the financial position and the results of operations for the periods shown have been made. All adjustments are normal and recurring. These financial statements should be read together with the Company’s audited financial statements included in its Form 10-K for the fiscal year ended September 30, 2018 (“fiscal year 2018 ”). Certain comparative amounts for the prior fiscal year period have been reclassified to conform to the financial statement presentation as of and for the period ended December 31, 2018 .

New Accounting Guidance

New Accounting Guidance	3 Months Ended
	Dec. 31, 2018
Accounting Changes and Error Corrections [Abstract]
New Accounting Guidance	New Accounting Guidance On October 1, 2018 , the Company adopted new guidance issued by the Financial Accounting Standards Board (“FASB”) 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 adopted the new guidance using the modified retrospective approach which did not require the restatement of prior periods, and recognized a cumulative effect adjustment resulting in decreases in total assets, total liabilities and retained earnings of $9.1 million , $2.2 million and $6.9 million . The adoption of the guidance had no impact on operating income or net income. Individual line items in the consolidated statement of income were impacted as follows: (in millions) As Reported Adoption Impact Amount Without Adoption for the three months ended December 31, 2018 Operating Revenues Investment management fees $ 971.8 $ 15.5 $ 987.3 Sales and distribution fees 354.8 (15.5 ) 339.3 Shareholder servicing fees 55.1 (2.2 ) 52.9 Operating Expenses General, administrative and other $ 108.4 $ (2.2 ) $ 106.2 On October 1, 2018 , the Company adopted an amendment to the financial instruments guidance issued by the FASB that 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 impacted all equity securities previously classified as available-for-sale and investments in fund products for which fair value was estimated using net asset value (“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 made. The Company adopted the amendment using the modified retrospective approach and recognized a cumulative effect adjustment resulting in increases in investments, retained earnings and accumulated other comprehensive loss of $21.8 million , $29.8 million and $8.0 million . There were no significant updates to the new accounting guidance that the Company has not yet adopted as disclosed in its Form 10-K for fiscal year 2018.

Earnings (Loss) per Share

Earnings (Loss) per Share	3 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Earnings (Loss) per Share	Earnings (Loss) per Share The components of basic and diluted earnings (loss) per share were as follows: (in millions, except per share data) Three Months Ended 2018 2017 Net income (loss) attributable to Franklin Resources, Inc. $ 275.9 $ (583.3 ) Less: allocation of earnings to participating nonvested stock and stock unit awards 2.5 1.0 Net Income (Loss) Available to Common Stockholders $ 273.4 $ (584.3 ) Weighted-average shares outstanding – basic 510.3 550.7 Dilutive effect of nonparticipating nonvested stock unit awards 0.5 — Weighted-Average Shares Outstanding – Diluted 510.8 550.7 Earnings (Loss) per Share Basic $ 0.54 $ (1.06 ) Diluted 0.54 (1.06 ) Nonparticipating nonvested stock unit awards excluded from the calculation of diluted earnings (loss) per share because their effect would have been antidilutive were 0.3 million and 1.9 million for the three months ended December 31, 2018 and 2017 .

Revenues

Revenues	3 Months Ended
	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenues	Revenues The Company earns revenue primarily from providing investment management and related services to its customers, which are generally investment products or investors in separate accounts. Related services include fund administration, sales and distribution, and shareholder servicing. Revenues are recognized when the Company’s obligations related to the services are satisfied and it is probable that a significant reversal of the revenue amount would not occur in future periods. The obligations are satisfied over time as the services are rendered, except for the sales and distribution obligations for the sale of shares of sponsored funds which are satisfied on trade date. Multiple services included in customer contracts are accounted for separately when the obligations are determined to be distinct. Fees from providing investment management and fund administration services (“investment management fees”), other than performance-based investment management fees, are determined based on a percentage of assets under management (“AUM”), primarily on a monthly basis using daily average AUM, and are recognized as the services are performed over time. Performance-based investment management fees are generated when investment products’ performance exceeds targets established in customer contracts. These fees are recognized when the amount is no longer probable of significant reversal and may relate to investment management services that were provided in prior periods. Sales and distribution fees primarily consist of upfront sales commissions and ongoing distribution fees. Sales commissions are based on contractual rates for sales of certain classes of sponsored funds and are recognized on trade date. Distribution service fees are determined based on a percentage of AUM, primarily on a monthly basis using daily average AUM. As the fee amounts are uncertain on trade date, they are recognized over time as the amounts become known and may relate to sales and distribution services provided in prior periods. Shareholder servicing fees are primarily determined based on a percentage of AUM on a monthly basis using daily average AUM and either the number of transactions in shareholder accounts or the number of shareholder accounts, while fees from certain investment products are based only on AUM. The fees are recognized as the services are performed over time. AUM is generally based on the fair value of the underlying securities held by 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 in accordance with the Company’s global valuation and pricing policy. The fair values of the underlying securities for which market prices are not readily available are valued internally using various methodologies which incorporate significant unobservable inputs as appropriate for each security type and represent an insignificant percentage of total AUM. Revenue is recorded gross of payments made to third-party service providers in the Company’s role as principal as it controls the delegated services provided to customers. Operating revenues by geographic area were as follows: Earned From Contracts With Customers Not Earned From Contracts With Customers 1 Total (in millions) United States Luxembourg Americas Excluding United States Asia-Pacific Europe, Middle East and Africa, Excluding Luxembourg for the three months ended Investment management fees $ 533.1 $ 267.7 $ 85.6 $ 61.4 $ 24.0 $ — $ 971.8 Sales and distribution fees 233.0 104.3 16.6 0.5 0.4 — 354.8 Shareholder servicing fees 44.9 7.7 — 2.5 — — 55.1 Other 3.0 0.3 — 0.1 0.3 26.1 29.8 Total $ 814.0 $ 380.0 $ 102.2 $ 64.5 $ 24.7 $ 26.1 $ 1,411.5 __________________ 1 Consists of interest and dividend income from consolidated investment products. Operating revenues are attributed to geographic areas based on the locations of the Company’s subsidiaries that provide the services, which may differ from the regions in which the related investment products are sold.

Investments

Investments	3 Months Ended
	Dec. 31, 2018
Investments [Abstract]
Investments	Investments The disclosures below include details of the Company’s investments, excluding those of consolidated investment products. See Note 7 – Consolidated Investment Products for information related to the investments held by these entities. The Company adopted new accounting guidance on October 1, 2018 that 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. The new guidance did not change the accounting for investments in non-equity securities. Investments consisted of the following: (in millions) December 31, Equity securities, at fair value Sponsored funds $ 309.7 Other equity securities 110.0 Total equity securities, at fair value 419.7 Debt securities Trading 79.8 Available-for-sale 11.0 Total debt securities 90.8 Investments in equity method investees 819.8 Other investments 55.6 Total $ 1,385.9 (in millions) September 30, 2018 Investment securities, trading Sponsored funds $ 248.1 Debt and other equity securities 97.6 Total investment securities, trading 345.7 Investment securities, available-for-sale Sponsored funds 178.6 Debt and other equity securities 15.5 Total investment securities, available-for-sale 194.1 Investments in equity method investees 780.8 Other investments 105.9 Total $ 1,426.5 Equity securities, at fair value include trading investment securities and investments that were classified as available-for-sale or carried at cost prior to adoption of the new guidance. Changes in the fair value of the investments are recognized as gains and losses in earnings. The fair value of funds is determined based on their published NAV or estimated using NAV as a practical expedient. The fair value of equity securities other than funds is determined using independent third-party broker or dealer price quotes or based on discounted cash flows using significant unobservable inputs. As of October 1, 2018, equity investments that do not have a readily determinable fair value are measured at cost adjusted for observable price changes and impairment, if any, which are recognized in earnings. The impairment assessment for these investments considers qualitative factors, including the financial condition and specific events related to the investee, that may indicate the fair value of the investment is less than its carrying value. Investment balances and related changes for the prior year have not been reclassified to conform to the financial statement presentation as of and for the period ended December 31, 2018 . Investment securities with aggregate carrying amounts of $1.2 million were pledged as collateral at December 31, 2018 and September 30, 2018 . Gross unrealized gains and losses relating to investment securities, available-for-sale were as follows: (in millions) Cost Basis Gross Unrealized Fair Value Gains Losses as of December 31, 2018 Debt securities $ 13.0 $ — $ (2.0 ) $ 11.0 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 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: (in millions) Less Than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses as of December 31, 2018 Debt securities $ 10.7 $ (2.0 ) $ — $ — $ 10.7 $ (2.0 ) 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 )

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Dec. 31, 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 consolidated investment products. See Note 7 – 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 NAV as a Practical Expedient Total as of December 31, 2018 Assets Equity securities, at fair value Sponsored funds $ 286.2 $ — $ — $ 23.5 $ 309.7 Other equity securities 21.2 0.3 0.7 87.8 110.0 Debt securities Trading 2.5 61.2 16.1 — 79.8 Available-for-sale — 10.7 0.3 — 11.0 Life settlement contracts — — 11.9 — 11.9 Total Assets Measured at Fair Value $ 309.9 $ 72.2 $ 29.0 $ 111.3 $ 522.4 Liability Contingent consideration liability $ — $ — $ 40.0 $ — $ 40.0 (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 Level 1 assets consist primarily of sponsored funds and other equity securities for which the fair values are based on published NAV or quoted market prices. Level 2 assets consist of debt and equity securities for which the fair values are determined using independent third-party broker or dealer price quotes. Level 3 assets consist of debt and equity securities and life settlement contracts for which the fair values are based on discounted cash flows using significant unobservable inputs. The fair value of the contingent consideration liability is determined using the net present value of anticipated future cash flows based on estimated future revenue and profits and timing of payments. Investments for which fair value was estimated using reported NAV as a practical expedient primarily consist of nonredeemable private debt, equity and infrastructure funds. These investments are expected to be returned through distributions over the life of the funds as a result of liquidations of the funds’ underlying assets. The expected weighted-average life for $54.1 million of the investments was 2.1 years at December 31, 2018 . The liquidation period for a $50.0 million investment in a nonredeemable private debt fund is unknown. The Company’s unfunded commitments to these funds totaled $5.0 million at December 31, 2018 . Changes in the Level 3 assets and liability were as follows: 2018 2017 (in millions) Investments Contingent Investments Contingent for the three months ended December 31, Balance at beginning of period $ 32.6 $ (38.7 ) $ 199.9 $ (51.0 ) Total realized and unrealized gains (losses) Included in investment and other income (losses), net 2.8 — 1.2 — Included in general, administrative and other expense — (1.3 ) — (4.0 ) Purchases — — 5.3 — Sales (4.3 ) — — — Transfers out of Level 3 (2.1 ) — — — Foreign exchange revaluation and other — — 3.7 (7.0 ) Balance at End of Period $ 29.0 $ (40.0 ) $ 210.1 $ (62.0 ) Change in unrealized gains (losses) included in net income (loss) relating to assets and liability held at end of period $ 2.8 $ (1.3 ) $ 1.2 $ (4.0 ) There were no transfers into Level 3 during the three months ended December 31, 2018 and 2017 . Valuation techniques and significant unobservable inputs used in the Level 3 fair value measurements were as follows: (in millions) as of December 31, 2018 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Debt securities, trading $ 16.1 Discounted cash flow Discount rate 4.0%–12.7% (6.3%) Risk premium 2.0%–6.0% (2.9%) Life settlement contracts 11.9 Discounted cash flow Life expectancy 20–113 months (59) Discount rate 8.0%–20.0% (13.2%) Contingent consideration liability 40.0 Discounted cash flow Discount rate 12.3% __________________ 1 Based on the relative fair value of the instruments. (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% If the relevant significant inputs used in the discounted cash flow valuations were independently higher (lower) as of December 31, 2018 , the resulting fair value of the assets or liability would be lower (higher). Financial instruments that were not measured at fair value were as follows: (in millions) Fair Value Level December 31, 2018 September 30, 2018 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Assets Cash and cash equivalents 1 $ 6,430.7 $ 6,430.7 $ 6,610.8 $ 6,610.8 Other investments Time deposits 2 15.1 15.1 12.3 12.3 Equity securities 3 28.6 28.6 81.8 103.6 Financial Liability Debt 2 $ 697.7 $ 675.2 $ 695.9 $ 671.1

Consolidated Investment Product

Consolidated Investment Products	3 Months Ended
	Dec. 31, 2018
Consolidated Investment Products [Abstract]
Consolidated Investment Products	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 voting interest entities and variable interest entities. The Company had 57 and 53 CIPs as of December 31, 2018 and September 30, 2018 . The balances related to CIPs included in the Company’s consolidated balance sheets were as follows: (in millions) December 31, September 30, 2018 Assets Cash and cash equivalents $ 228.2 $ 299.8 Receivables 81.7 114.2 Investments, at fair value 2,040.2 2,109.4 Other assets — 1.0 Total Assets $ 2,350.1 $ 2,524.4 Liabilities Accounts payable and accrued expenses $ 28.9 $ 68.0 Debt 32.7 32.6 Other liabilities — 9.3 Total liabilities 61.6 109.9 Redeemable Noncontrolling Interests 932.3 1,043.6 Stockholders ’ Equity Franklin Resources, Inc.’s interests 1,052.1 1,092.6 Nonredeemable noncontrolling interests 304.1 278.3 Total stockholders’ equity 1,356.2 1,370.9 Total Liabilities, Redeemable Noncontrolling Interests and Stockholders ’ Equity $ 2,350.1 $ 2,524.4 The CIPs did not have a significant impact on net income (loss) attributable to the Company during the three months ended December 31, 2018 and 2017 . The Company has no right to the CIPs’ assets, other than its direct equity investments in them and investment management and other 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 either equity method investments or equity securities measured at fair value with changes recognized in earnings 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) December 31, September 30, 2018 Investment securities, trading $ 1,570.5 $ 1,651.8 Other equity securities 329.6 311.0 Other debt securities 140.1 146.6 Total $ 2,040.2 $ 2,109.4 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 December 31, 2018 Assets Investments Equity securities $ 155.4 $ 233.8 $ 193.6 $ 137.5 $ 720.3 Debt securities 0.3 1,179.5 140.1 — 1,319.9 Total Assets Measured at Fair Value $ 155.7 $ 1,413.3 $ 333.7 $ 137.5 $ 2,040.2 (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 Level 1 assets consist of equity and debt securities for which the fair values are based on quoted market prices. Level 2 assets consist of debt and equity securities for which the fair values are determined using independent third-party broker or dealer price quotes. Level 3 assets consist of equity and debt securities of entities in emerging markets and other debt instruments for which the fair values are determined using significant unobservable inputs in either a market-based or income-based approach. Investments for which fair value was estimated using reported NAV as a practical expedient consist of nonredeemable real estate and private equity funds. These investments are expected to be returned through distributions over the life of the funds as a result of liquidations of the funds’ underlying assets over a weighted-average period of 4.0 years and 3.5 years at December 31, 2018 and September 30, 2018 . The CIPs’ unfunded commitments to these funds totaled $62.8 million and $1.9 million , of which the Company was contractually obligated to fund $19.0 million and $0.4 million based on its ownership percentage in the CIPs, at December 31, 2018 and September 30, 2018 . Changes in Level 3 assets were as follows: 2018 2017 (in millions) Equity Debt Total Equity Debt Total for the three months ended December 31, Balance at beginning of period $ 199.7 $ 150.3 $ 350.0 $ 160.7 $ 135.4 $ 296.1 Realized and unrealized gains (losses) included in investment and other income (losses), net 11.4 (8.2 ) 3.2 1.9 0.1 2.0 Purchases 9.7 8.2 17.9 11.1 — 11.1 Sales (0.1 ) (6.2 ) (6.3 ) (14.9 ) — (14.9 ) Settlements (1.0 ) (0.1 ) (1.1 ) — — — Transfers into Level 3 0.1 — 0.1 — — — Transfers out of Level 3 (25.4 ) (3.6 ) (29.0 ) — — — Foreign exchange revaluation (0.8 ) (0.3 ) (1.1 ) 0.8 0.7 1.5 Balance at End of Period $ 193.6 $ 140.1 $ 333.7 $ 159.6 $ 136.2 $ 295.8 Change in unrealized gains (losses) included in net income (loss) relating to assets held at end of period $ 11.7 $ (1.4 ) $ 10.3 $ 1.0 $ 0.1 $ 1.1 Valuation techniques and significant unobservable inputs used in Level 3 fair value measurements were as follows: (in millions) as of December 31, 2018 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Equity securities $ 165.3 Market comparable companies EBITDA multiple 5.0–13.6 (9.1) 28.3 Discounted cash flow Discount rate 8.0%–16.5% (13.8%) Debt securities 116.6 Discounted cash flow Discount rate 7.0%–14.8% (10.8%) Loss-adjusted discount rate 3.0%–22.7% (13.2%) 23.5 Comparable trading multiple Price-to-earnings ratio 10.0 Enterprise value/ 20.9 __________________ 1 Based on the relative fair value of the instruments. (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 111.0 Discounted cash flow Discount rate 7.0%–14.8% (10.8%) Loss-adjusted discount rate 3.0%–22.7% (12.0%) 33.9 Comparable trading multiple Price-to-earnings ratio 10.0 Enterprise value/ 20.9 5.4 Market pricing Private sale pricing $42 per $100 of par If the relevant significant inputs used in the market-based valuations were independently higher (lower) as of December 31, 2018 , the resulting fair value of the securities would be higher (lower). If the relevant significant inputs used in the discounted cash flow valuations were independently higher (lower) as of December 31, 2018 , the resulting fair value of the securities would be lower (higher). Financial instruments of CIPs that were not measured at fair value were as follows: (in millions) Fair Value Level December 31, 2018 September 30, 2018 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Asset Cash and cash equivalents 1 $ 228.2 $ 228.2 $ 299.8 $ 299.8 Financial Liability Debt 3 $ 32.7 $ 32.6 $ 32.6 $ 32.4 Debt Debt of CIPs totaled $32.7 million and $32.6 million at December 31, 2018 and September 30, 2018 . The debt had fixed and floating interest rates ranging from 3.07% to 7.90% with a weighted-average effective interest rate of 6.81% at December 31, 2018 , and from 3.07% to 7.88% with a weighted-average effective interest rate of 6.79% at September 30, 2018 . The debt matures in fiscal year 2019. Redeemable Noncontrolling Interests Changes in redeemable noncontrolling interests of CIPs were as follows: (in millions) for the three months ended December 31, 2018 2017 Balance at beginning of period $ 1,043.6 $ 1,941.9 Net income (loss) (15.4 ) 11.5 Net subscriptions and other 22.8 254.7 Net deconsolidations (118.7 ) — Balance at End of Period $ 932.3 $ 2,208.1

Nonconsolidated Variable Intere

Nonconsolidated Variable Interest Entities	3 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nonconsolidated Variable Interest Entities	Nonconsolidated Variable Interest Entities 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 and other fee receivables as follows: (in millions) December 31, September 30, 2018 Investments $ 228.0 $ 161.8 Receivables 133.1 140.1 Total $ 361.1 $ 301.9 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. The Company did not provide financial or other support to its sponsored funds during the three months ended December 31, 2018 . During fiscal year 2018 , the Company purchased $32.6 million of certain equity and debt securities from two sponsored funds. None of the purchases occurred during the three months ended December 31, 2017 .

Taxes on Income

Taxes on Income	3 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Taxes on Income	Taxes on Income The Tax Cuts and Jobs Act (the “Tax Act”), which was enacted into law in the U.S. in December 2017, includes various changes to the tax law, including a permanent reduction in the corporate income tax rate to 21% and assessment of a one-time transition tax on the deemed repatriation of post-1986 undistributed foreign subsidiaries’ earnings. The Company completed its analysis of the Tax Act impact during the quarter ended December 31, 2018 with no significant adjustment to the provisional amounts previously recorded. The transition tax liability of $982.8 million at December 31, 2018 is net of an $87.6 million tax benefit related to U.S. taxation of deemed foreign dividends. This benefit may be reduced or eliminated by future regulation or legislation. The transition tax liability may also be adjusted in the future upon issuance of state legislative updates on tax reform and the completion of the Company’s tax return filings for fiscal year 2018.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Dec. 31, 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. In November 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 in February 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. In April 2018, the court consolidated the Fernandez action with the existing Cryer action. While management strongly believes that the claims asserted in the consolidated litigation are without merit, in order to avoid protracted litigation, on December 3, 2018, Franklin elected to enter into an agreement-in-principle to resolve the matter for a cash payment of $13.9 million , which the Company accrued as of December 31, 2018 . In addition, Franklin agreed, among other Plan changes, to increase its existing matching contributions from 75% to 85% for eligible participant salary deferrals for a period of three years. The agreement is subject to court approval. 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 December 31, 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 At December 31, 2018 , there were no material changes in the other commitments and contingencies as reported in the Company’s Form 10-K for fiscal year 2018 .

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Dec. 31, 2018
Share-based Compensation [Abstract]
Stock-Based Compensation	Stock-Based Compensation 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 three months ended December 31, 2018 Nonvested balance at October 1, 2018 2,678 1,813 4,491 $ 39.08 Granted 3,305 890 4,195 30.79 Vested (251 ) (606 ) (857 ) 38.07 Forfeited/canceled (51 ) (163 ) (214 ) 39.86 Nonvested Balance at December 31, 2018 5,681 1,934 7,615 $ 34.61 Total unrecognized compensation expense related to nonvested stock and stock unit awards was $211.0 million at December 31, 2018 . This expense is expected to be recognized over a remaining weighted-average vesting period of 2.1 years .

Other Income (Expenses)

Other Income (Expenses)	3 Months Ended
	Dec. 31, 2018
Other Income and Expenses [Abstract]
Other Income (Expenses)	Other Income (Expenses) Other income (expenses) consisted of the following: Three Months Ended (in millions) 2018 2017 Investment and Other Income (Losses), Net Dividend income $ 25.6 $ 4.7 Interest income 9.0 23.8 Gains (losses) on investments, net (15.8 ) 0.6 Income (losses) from investments in equity method investees (37.6 ) 35.2 Gains (losses) on investments of CIPs, net (49.0 ) 16.0 Rental income 4.9 3.7 Foreign currency exchange gains (losses), net 4.7 (2.9 ) Other, net (0.9 ) 0.2 Total (59.1 ) 81.3 Interest Expense (6.4 ) (10.8 ) Other Income (Expenses), Net $ (65.5 ) $ 70.5 Substantially all dividend income was generated by investments in nonconsolidated funds. Interest income was primarily generated by cash equivalents and debt securities. Gains (losses) on investments, net consists primarily of realized and unrealized gains (losses) on trading investment securities and other equity securities measured at fair value through profit and loss. Proceeds from the sale of available-for-sale securities were $16.0 million for the three months ended December 31, 2017 . There were no sales of available-for-sale securities in the current fiscal year. Net losses recognized on trading investment securities and other equity securities that were held by the Company at December 31, 2018 were $12.1 million , and net gains recognized on trading investment securities that were held by the Company at December 31, 2017 were $1.3 million . Net gains (losses) recognized on trading investment securities of CIPs that were held at December 31, 2018 and 2017 were $(31.2) million and $20.0 million .

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Dec. 31, 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) Currency Unrealized Unrealized Total for the three months ended December 31, 2018 Balance at October 1, 2018 $ (372.9 ) $ (4.2 ) $ 6.5 $ (370.6 ) Adoption of new accounting guidance — — (8.0 ) (8.0 ) Other comprehensive loss Other comprehensive loss before reclassifications, net of tax (14.4 ) (0.4 ) — (14.8 ) Reclassifications to net investment and other income (losses), net of tax (0.2 ) — — (0.2 ) Total other comprehensive loss (14.6 ) (0.4 ) — (15.0 ) Balance at December 31, 2018 $ (387.5 ) $ (4.6 ) $ (1.5 ) $ (393.6 ) (in millions) Currency Unrealized Unrealized Total for the three months ended December 31, 2017 Balance at October 1, 2017 $ (281.0 ) $ (6.0 ) $ 2.2 $ (284.8 ) Other comprehensive income (loss) 15.8 (1.1 ) 3.5 18.2 Balance at December 31, 2017 $ (265.2 ) $ (7.1 ) $ 5.7 $ (266.6 ) There were no reclassifications from accumulated other comprehensive income (loss) for the three months ended December 31, 2017 .

Subsequent Event

Subsequent Event	3 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event On January 29, 2019 , the Company offered a voluntary buyout to certain U.S. employees who meet specific criteria related to age and years of service. The impact of this voluntary termination plan is unknown but is expected to result in increased compensation and benefits expense during the remainder of fiscal year 2019 .

Accounting Policies (Policies)

Accounting Policies (Policies)	3 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Revenues	The Company earns revenue primarily from providing investment management and related services to its customers, which are generally investment products or investors in separate accounts. Related services include fund administration, sales and distribution, and shareholder servicing. Revenues are recognized when the Company’s obligations related to the services are satisfied and it is probable that a significant reversal of the revenue amount would not occur in future periods. The obligations are satisfied over time as the services are rendered, except for the sales and distribution obligations for the sale of shares of sponsored funds which are satisfied on trade date. Multiple services included in customer contracts are accounted for separately when the obligations are determined to be distinct. Fees from providing investment management and fund administration services (“investment management fees”), other than performance-based investment management fees, are determined based on a percentage of assets under management (“AUM”), primarily on a monthly basis using daily average AUM, and are recognized as the services are performed over time. Performance-based investment management fees are generated when investment products’ performance exceeds targets established in customer contracts. These fees are recognized when the amount is no longer probable of significant reversal and may relate to investment management services that were provided in prior periods. Sales and distribution fees primarily consist of upfront sales commissions and ongoing distribution fees. Sales commissions are based on contractual rates for sales of certain classes of sponsored funds and are recognized on trade date. Distribution service fees are determined based on a percentage of AUM, primarily on a monthly basis using daily average AUM. As the fee amounts are uncertain on trade date, they are recognized over time as the amounts become known and may relate to sales and distribution services provided in prior periods. Shareholder servicing fees are primarily determined based on a percentage of AUM on a monthly basis using daily average AUM and either the number of transactions in shareholder accounts or the number of shareholder accounts, while fees from certain investment products are based only on AUM. The fees are recognized as the services are performed over time. AUM is generally based on the fair value of the underlying securities held by 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 in accordance with the Company’s global valuation and pricing policy. The fair values of the underlying securities for which market prices are not readily available are valued internally using various methodologies which incorporate significant unobservable inputs as appropriate for each security type and represent an insignificant percentage of total AUM. Revenue is recorded gross of payments made to third-party service providers in the Company’s role as principal as it controls the delegated services provided to customers.
Investments	Equity securities, at fair value include trading investment securities and investments that were classified as available-for-sale or carried at cost prior to adoption of the new guidance. Changes in the fair value of the investments are recognized as gains and losses in earnings. The fair value of funds is determined based on their published NAV or estimated using NAV as a practical expedient. The fair value of equity securities other than funds is determined using independent third-party broker or dealer price quotes or based on discounted cash flows using significant unobservable inputs. As of October 1, 2018, equity investments that do not have a readily determinable fair value are measured at cost adjusted for observable price changes and impairment, if any, which are recognized in earnings. The impairment assessment for these investments considers qualitative factors, including the financial condition and specific events related to the investee, that may indicate the fair value of the investment is less than its carrying value.
Schedule Of Consolidated Investment Products [Line Items]
Fair Value Measurements	Level 1 assets consist primarily of sponsored funds and other equity securities for which the fair values are based on published NAV or quoted market prices. Level 2 assets consist of debt and equity securities for which the fair values are determined using independent third-party broker or dealer price quotes. Level 3 assets consist of debt and equity securities and life settlement contracts for which the fair values are based on discounted cash flows using significant unobservable inputs. The fair value of the contingent consideration liability is determined using the net present value of anticipated future cash flows based on estimated future revenue and profits and timing of payments.
Consolidated Investment Products [Member]
Schedule Of Consolidated Investment Products [Line Items]
Fair Value Measurements	Level 1 assets consist of equity and debt securities for which the fair values are based on quoted market prices. Level 2 assets consist of debt and equity securities for which the fair values are determined using independent third-party broker or dealer price quotes. Level 3 assets consist of equity and debt securities of entities in emerging markets and other debt instruments for which the fair values are determined using significant unobservable inputs in either a market-based or income-based approach.

New Accounting Guidance (Tables

New Accounting Guidance (Tables)	3 Months Ended
	Dec. 31, 2018
Accounting Changes and Error Corrections [Abstract]
Adoption impact in Consolidated Statement of Income	The adoption of the guidance had no impact on operating income or net income. Individual line items in the consolidated statement of income were impacted as follows: (in millions) As Reported Adoption Impact Amount Without Adoption for the three months ended December 31, 2018 Operating Revenues Investment management fees $ 971.8 $ 15.5 $ 987.3 Sales and distribution fees 354.8 (15.5 ) 339.3 Shareholder servicing fees 55.1 (2.2 ) 52.9 Operating Expenses General, administrative and other $ 108.4 $ (2.2 ) $ 106.2

Earnings (Loss) per Share (Tabl

Earnings (Loss) per Share (Tables)	3 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Components of basic and diluted earnings (loss) per share	The components of basic and diluted earnings (loss) per share were as follows: (in millions, except per share data) Three Months Ended 2018 2017 Net income (loss) attributable to Franklin Resources, Inc. $ 275.9 $ (583.3 ) Less: allocation of earnings to participating nonvested stock and stock unit awards 2.5 1.0 Net Income (Loss) Available to Common Stockholders $ 273.4 $ (584.3 ) Weighted-average shares outstanding – basic 510.3 550.7 Dilutive effect of nonparticipating nonvested stock unit awards 0.5 — Weighted-Average Shares Outstanding – Diluted 510.8 550.7 Earnings (Loss) per Share Basic $ 0.54 $ (1.06 ) Diluted 0.54 (1.06 )

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Operating revenues by geographic area	Operating revenues by geographic area were as follows: Earned From Contracts With Customers Not Earned From Contracts With Customers 1 Total (in millions) United States Luxembourg Americas Excluding United States Asia-Pacific Europe, Middle East and Africa, Excluding Luxembourg for the three months ended Investment management fees $ 533.1 $ 267.7 $ 85.6 $ 61.4 $ 24.0 $ — $ 971.8 Sales and distribution fees 233.0 104.3 16.6 0.5 0.4 — 354.8 Shareholder servicing fees 44.9 7.7 — 2.5 — — 55.1 Other 3.0 0.3 — 0.1 0.3 26.1 29.8 Total $ 814.0 $ 380.0 $ 102.2 $ 64.5 $ 24.7 $ 26.1 $ 1,411.5 __________________ 1 Consists of interest and dividend income from consolidated investment products.

Investments (Tables)

Investments (Tables)	3 Months Ended
	Dec. 31, 2018
Investments [Abstract]
Summary of investments	Investments consisted of the following: (in millions) December 31, Equity securities, at fair value Sponsored funds $ 309.7 Other equity securities 110.0 Total equity securities, at fair value 419.7 Debt securities Trading 79.8 Available-for-sale 11.0 Total debt securities 90.8 Investments in equity method investees 819.8 Other investments 55.6 Total $ 1,385.9 (in millions) September 30, 2018 Investment securities, trading Sponsored funds $ 248.1 Debt and other equity securities 97.6 Total investment securities, trading 345.7 Investment securities, available-for-sale Sponsored funds 178.6 Debt and other equity securities 15.5 Total investment securities, available-for-sale 194.1 Investments in equity method investees 780.8 Other investments 105.9 Total $ 1,426.5
Summary of the gross unrealized gains and losses relating to investment securities, available-for-sale	Gross unrealized gains and losses relating to investment securities, available-for-sale were as follows: (in millions) Cost Basis Gross Unrealized Fair Value Gains Losses as of December 31, 2018 Debt securities $ 13.0 $ — $ (2.0 ) $ 11.0 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
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: (in millions) Less Than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses as of December 31, 2018 Debt securities $ 10.7 $ (2.0 ) $ — $ — $ 10.7 $ (2.0 ) 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 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Dec. 31, 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 NAV as a Practical Expedient Total as of December 31, 2018 Assets Equity securities, at fair value Sponsored funds $ 286.2 $ — $ — $ 23.5 $ 309.7 Other equity securities 21.2 0.3 0.7 87.8 110.0 Debt securities Trading 2.5 61.2 16.1 — 79.8 Available-for-sale — 10.7 0.3 — 11.0 Life settlement contracts — — 11.9 — 11.9 Total Assets Measured at Fair Value $ 309.9 $ 72.2 $ 29.0 $ 111.3 $ 522.4 Liability Contingent consideration liability $ — $ — $ 40.0 $ — $ 40.0 (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
Schedule of changes in Level 3 assets and liabilities	Changes in the Level 3 assets and liability were as follows: 2018 2017 (in millions) Investments Contingent Investments Contingent for the three months ended December 31, Balance at beginning of period $ 32.6 $ (38.7 ) $ 199.9 $ (51.0 ) Total realized and unrealized gains (losses) Included in investment and other income (losses), net 2.8 — 1.2 — Included in general, administrative and other expense — (1.3 ) — (4.0 ) Purchases — — 5.3 — Sales (4.3 ) — — — Transfers out of Level 3 (2.1 ) — — — Foreign exchange revaluation and other — — 3.7 (7.0 ) Balance at End of Period $ 29.0 $ (40.0 ) $ 210.1 $ (62.0 ) Change in unrealized gains (losses) included in net income (loss) relating to assets and liability held at end of period $ 2.8 $ (1.3 ) $ 1.2 $ (4.0 )
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 December 31, 2018 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Debt securities, trading $ 16.1 Discounted cash flow Discount rate 4.0%–12.7% (6.3%) Risk premium 2.0%–6.0% (2.9%) Life settlement contracts 11.9 Discounted cash flow Life expectancy 20–113 months (59) Discount rate 8.0%–20.0% (13.2%) Contingent consideration liability 40.0 Discounted cash flow Discount rate 12.3% __________________ 1 Based on the relative fair value of the instruments. (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%
Schedule of financial instruments not measured at fair value	Financial instruments that were not measured at fair value were as follows: (in millions) Fair Value Level December 31, 2018 September 30, 2018 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Assets Cash and cash equivalents 1 $ 6,430.7 $ 6,430.7 $ 6,610.8 $ 6,610.8 Other investments Time deposits 2 15.1 15.1 12.3 12.3 Equity securities 3 28.6 28.6 81.8 103.6 Financial Liability Debt 2 $ 697.7 $ 675.2 $ 695.9 $ 671.1

Consolidated Investment Produ_2

Consolidated Investment Products (Tables)	3 Months Ended
	Dec. 31, 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) December 31, September 30, 2018 Assets Cash and cash equivalents $ 228.2 $ 299.8 Receivables 81.7 114.2 Investments, at fair value 2,040.2 2,109.4 Other assets — 1.0 Total Assets $ 2,350.1 $ 2,524.4 Liabilities Accounts payable and accrued expenses $ 28.9 $ 68.0 Debt 32.7 32.6 Other liabilities — 9.3 Total liabilities 61.6 109.9 Redeemable Noncontrolling Interests 932.3 1,043.6 Stockholders ’ Equity Franklin Resources, Inc.’s interests 1,052.1 1,092.6 Nonredeemable noncontrolling interests 304.1 278.3 Total stockholders’ equity 1,356.2 1,370.9 Total Liabilities, Redeemable Noncontrolling Interests and Stockholders ’ Equity $ 2,350.1 $ 2,524.4
Schedule of investments of CIPs	Investments of CIPs consisted of the following: (in millions) December 31, September 30, 2018 Investment securities, trading $ 1,570.5 $ 1,651.8 Other equity securities 329.6 311.0 Other debt securities 140.1 146.6 Total $ 2,040.2 $ 2,109.4
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 December 31, 2018 Assets Investments Equity securities $ 155.4 $ 233.8 $ 193.6 $ 137.5 $ 720.3 Debt securities 0.3 1,179.5 140.1 — 1,319.9 Total Assets Measured at Fair Value $ 155.7 $ 1,413.3 $ 333.7 $ 137.5 $ 2,040.2 (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
Schedule of changes in Level 3 assets of CIPs	Changes in Level 3 assets were as follows: 2018 2017 (in millions) Equity Debt Total Equity Debt Total for the three months ended December 31, Balance at beginning of period $ 199.7 $ 150.3 $ 350.0 $ 160.7 $ 135.4 $ 296.1 Realized and unrealized gains (losses) included in investment and other income (losses), net 11.4 (8.2 ) 3.2 1.9 0.1 2.0 Purchases 9.7 8.2 17.9 11.1 — 11.1 Sales (0.1 ) (6.2 ) (6.3 ) (14.9 ) — (14.9 ) Settlements (1.0 ) (0.1 ) (1.1 ) — — — Transfers into Level 3 0.1 — 0.1 — — — Transfers out of Level 3 (25.4 ) (3.6 ) (29.0 ) — — — Foreign exchange revaluation (0.8 ) (0.3 ) (1.1 ) 0.8 0.7 1.5 Balance at End of Period $ 193.6 $ 140.1 $ 333.7 $ 159.6 $ 136.2 $ 295.8 Change in unrealized gains (losses) included in net income (loss) relating to assets held at end of period $ 11.7 $ (1.4 ) $ 10.3 $ 1.0 $ 0.1 $ 1.1
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 December 31, 2018 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Equity securities $ 165.3 Market comparable companies EBITDA multiple 5.0–13.6 (9.1) 28.3 Discounted cash flow Discount rate 8.0%–16.5% (13.8%) Debt securities 116.6 Discounted cash flow Discount rate 7.0%–14.8% (10.8%) Loss-adjusted discount rate 3.0%–22.7% (13.2%) 23.5 Comparable trading multiple Price-to-earnings ratio 10.0 Enterprise value/ 20.9 __________________ 1 Based on the relative fair value of the instruments. (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 111.0 Discounted cash flow Discount rate 7.0%–14.8% (10.8%) Loss-adjusted discount rate 3.0%–22.7% (12.0%) 33.9 Comparable trading multiple Price-to-earnings ratio 10.0 Enterprise value/ 20.9 5.4 Market pricing Private sale pricing $42 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) Fair Value Level December 31, 2018 September 30, 2018 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Asset Cash and cash equivalents 1 $ 228.2 $ 228.2 $ 299.8 $ 299.8 Financial Liability Debt 3 $ 32.7 $ 32.6 $ 32.6 $ 32.4
Schedule of changes in redeemable noncontrolling interests of CIPs	Changes in redeemable noncontrolling interests of CIPs were as follows: (in millions) for the three months ended December 31, 2018 2017 Balance at beginning of period $ 1,043.6 $ 1,941.9 Net income (loss) (15.4 ) 11.5 Net subscriptions and other 22.8 254.7 Net deconsolidations (118.7 ) — Balance at End of Period $ 932.3 $ 2,208.1

Nonconsolidated Variable Inte_2

Nonconsolidated Variable Interest Entities (Tables)	3 Months Ended
	Dec. 31, 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 and other fee receivables as follows: (in millions) December 31, September 30, 2018 Investments $ 228.0 $ 161.8 Receivables 133.1 140.1 Total $ 361.1 $ 301.9

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Dec. 31, 2018
Share-based Compensation [Abstract]
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 three months ended December 31, 2018 Nonvested balance at October 1, 2018 2,678 1,813 4,491 $ 39.08 Granted 3,305 890 4,195 30.79 Vested (251 ) (606 ) (857 ) 38.07 Forfeited/canceled (51 ) (163 ) (214 ) 39.86 Nonvested Balance at December 31, 2018 5,681 1,934 7,615 $ 34.61

Other Income (Expenses) (Tables

Other Income (Expenses) (Tables)	3 Months Ended
	Dec. 31, 2018
Other Income and Expenses [Abstract]
Schedule of other income (expenses)	Other income (expenses) consisted of the following: Three Months Ended (in millions) 2018 2017 Investment and Other Income (Losses), Net Dividend income $ 25.6 $ 4.7 Interest income 9.0 23.8 Gains (losses) on investments, net (15.8 ) 0.6 Income (losses) from investments in equity method investees (37.6 ) 35.2 Gains (losses) on investments of CIPs, net (49.0 ) 16.0 Rental income 4.9 3.7 Foreign currency exchange gains (losses), net 4.7 (2.9 ) Other, net (0.9 ) 0.2 Total (59.1 ) 81.3 Interest Expense (6.4 ) (10.8 ) Other Income (Expenses), Net $ (65.5 ) $ 70.5

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Dec. 31, 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) Currency Unrealized Unrealized Total for the three months ended December 31, 2018 Balance at October 1, 2018 $ (372.9 ) $ (4.2 ) $ 6.5 $ (370.6 ) Adoption of new accounting guidance — — (8.0 ) (8.0 ) Other comprehensive loss Other comprehensive loss before reclassifications, net of tax (14.4 ) (0.4 ) — (14.8 ) Reclassifications to net investment and other income (losses), net of tax (0.2 ) — — (0.2 ) Total other comprehensive loss (14.6 ) (0.4 ) — (15.0 ) Balance at December 31, 2018 $ (387.5 ) $ (4.6 ) $ (1.5 ) $ (393.6 ) (in millions) Currency Unrealized Unrealized Total for the three months ended December 31, 2017 Balance at October 1, 2017 $ (281.0 ) $ (6.0 ) $ 2.2 $ (284.8 ) Other comprehensive income (loss) 15.8 (1.1 ) 3.5 18.2 Balance at December 31, 2017 $ (265.2 ) $ (7.1 ) $ 5.7 $ (266.6 )

New Accounting Guidance - Narra

New Accounting Guidance - Narrative (Details) $ in Millions	Oct. 01, 2018USD ($)
ASU 2016-01 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance	$ (8)
Investments [Member] | ASU 2016-01 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance	(21.8)
Assets [Member] | ASU 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance	9.1
Liabilities [Member] | ASU 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance	2.2
Retained Earnings [Member] | ASU 2016-01 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance	29.8
Retained Earnings [Member] | ASU 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance	(6.9)
Comprehensive Income [Member] | ASU 2016-01 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance	$ (8)

New Accounting Guidance - Adopt

New Accounting Guidance - Adoption impact in Consolidated Statement of Income (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Investment management fees	$ 971.8	$ 1,113.6
Sales and distribution fees	354.8	417.8
Shareholder servicing fees	55.1	54.9
General, administrative and other	108.4	$ 88.8
Adoption Impact | ASU 2014-09 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Investment management fees	15.5
Sales and distribution fees	(15.5)
Shareholder servicing fees	(2.2)
General, administrative and other	(2.2)
Amount Without Adoption | ASU 2014-09 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Investment management fees	987.3
Sales and distribution fees	339.3
Shareholder servicing fees	52.9
General, administrative and other	$ 106.2

Earnings (Loss) per Share - Nar

Earnings (Loss) per Share - Narrative (Details) - shares shares in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Abstract]
Shares of nonparticipating nonvested stock unit awards excluded from the calculation of diluted EPS	0.3	1.9

Earnings (Loss) per Share - Com

Earnings (Loss) per Share - Components of Basic and Diluted Earnings (Loss) per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share Reconciliation [Abstract]
Net income (loss) attributable to Franklin Resources, Inc.	$ 275.9	$ (583.3)
Less: allocation of earnings to participating nonvested stock and stock unit awards - basic	2.5	1
Less: allocation of earnings to participating nonvested stock and stock unit awards - diluted	2.5	1
Net Income (Loss) Available to Common Stockholders - basic	273.4	(584.3)
Net Income (Loss) Available to Common Stockholders - diluted	$ 273.4	$ (584.3)
Weighted-average shares outstanding – basic	510.3	550.7
Dilutive effect of nonparticipating nonvested stock unit awards	0.5	0
Weighted-Average Shares Outstanding – Diluted	510.8	550.7
Earnings (Loss) per Share [Abstract]
Basic	$ 0.54	$ (1.06)
Diluted	$ 0.54	$ (1.06)

Revenues - Schedule of Operatin

Revenues - Schedule of Operating Revenues by Geographic Area (Details) - USD ($) $ in Millions		3 Months Ended
		Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Not Earned From Contracts With Customers	[1]	$ 26.1
Investment management fees		971.8	$ 1,113.6
Sales and distribution fees		354.8	417.8
Shareholder servicing fees		55.1	54.9
Other		29.8	29.2
Total		1,411.5	$ 1,615.5
Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Not Earned From Contracts With Customers	[1]	0
Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Not Earned From Contracts With Customers	[1]	0
Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Not Earned From Contracts With Customers	[1]	0
Other [Member]
Disaggregation of Revenue [Line Items]
Not Earned From Contracts With Customers	[1]	26.1
United States [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		814
United States [Member] | Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		533.1
United States [Member] | Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		233
United States [Member] | Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		44.9
United States [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		3
Luxembourg [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		380
Luxembourg [Member] | Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		267.7
Luxembourg [Member] | Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		104.3
Luxembourg [Member] | Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		7.7
Luxembourg [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		0.3
Americas Excluding United States [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		102.2
Americas Excluding United States [Member] | Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		85.6
Americas Excluding United States [Member] | Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		16.6
Americas Excluding United States [Member] | Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		0
Americas Excluding United States [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		0
Asia-Pacific [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		64.5
Asia-Pacific [Member] | Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		61.4
Asia-Pacific [Member] | Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		0.5
Asia-Pacific [Member] | Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		2.5
Asia-Pacific [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		0.1
Europe, Middle East and Africa, Excluding Luxembourg [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		24.7
Europe, Middle East and Africa, Excluding Luxembourg [Member] | Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		24
Europe, Middle East and Africa, Excluding Luxembourg [Member] | Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		0.4
Europe, Middle East and Africa, Excluding Luxembourg [Member] | Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		0
Europe, Middle East and Africa, Excluding Luxembourg [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		$ 0.3
[1]	Consists of interest and dividend income from consolidated investment products.

Investments - Narrative (Detail

Investments - Narrative (Details) $ in Millions	Dec. 31, 2018USD ($)
Investments [Abstract]
Aggregate carrying amounts of investment securities pledged as collateral	$ 1.2

Investments - Summary of Invest

Investments - Summary of Investments (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Investment Holdings [Line Items]
Equity securities, at fair value	$ 419.7
Investment securities, trading		$ 345.7
Debt securities, trading	79.8
Debt securities, available-for-sale	11
Total debt securities	90.8
Available-for-sale securities		194.1
Investments in equity method investees	819.8	780.8
Other investments	55.6	105.9
Total	1,385.9	1,426.5
Sponsored Funds [Member]
Investment Holdings [Line Items]
Equity securities, at fair value	309.7
Investment securities, trading		248.1
Available-for-sale securities		178.6
Equity Securities [Member]
Investment Holdings [Line Items]
Equity securities, at fair value	$ 110
Debt and Other Equity Securities [Member]
Investment Holdings [Line Items]
Investment securities, trading		97.6
Available-for-sale securities		$ 15.5

Investments - Summary of Gross

Investments - Summary of Gross Unrealized Gains and Losses Relating to Investment Securities, Available-for-Sale (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Investment Holdings [Line Items]
Cost Basis	$ 13
Gross Unrealized Gains	0
Gross Unrealized Losses	(2)
Fair Value	$ 11
Cost Basis		$ 189.7
Gross Unrealized Gains		8.8
Gross Unrealized Losses		(4.4)
Fair Value		194.1
Sponsored Funds [Member]
Investment Holdings [Line Items]
Cost Basis		172.9
Gross Unrealized Gains		8.3
Gross Unrealized Losses		(2.6)
Fair Value		178.6
Debt and Other Equity Securities [Member]
Investment Holdings [Line Items]
Cost Basis		16.8
Gross Unrealized Gains		0.5
Gross Unrealized Losses		(1.8)
Fair Value		$ 15.5

Investments - Summary of Gros_2

Investments - Summary of Gross Unrealized Losses, AFS, Continuous Loss Position (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
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)
Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	$ 10.7
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Gross Unrealized Losses	(2)
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	10.7
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Gross Unrealized Losses	$ (2)
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
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Gross Unrealized Losses		(2.1)
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		69.8
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Gross Unrealized Losses		(2.6)
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 Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Transfers into Level 3 - assets	$ 0	$ 0
Transfers into Level 3 - liabilities	0	$ 0
Nonredeemable Equity and Infrastructure Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
NAV as a practical expedient	$ 54.1
Liquidation weighted-average period	2 years 1 month
Unfunded commitments	$ 5
Private Debt Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
NAV as a practical expedient	$ 50

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liability Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Assets [Abstract]
Equity securities, at fair value	$ 419.7
Debt securities, trading	79.8
Debt securities, available-for-sale	11
Investment securities, trading		$ 345.7
Available-for-sale securities		194.1
Sponsored Funds [Member]
Assets [Abstract]
Equity securities, at fair value	309.7
Investment securities, trading		248.1
Available-for-sale securities		178.6
Equity Securities [Member]
Assets [Abstract]
Equity securities, at fair value	110
Debt and Other Equity Securities [Member]
Assets [Abstract]
Investment securities, trading		97.6
Available-for-sale securities		15.5
Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Debt securities, trading	79.8
Debt securities, available-for-sale	11
Life settlement contracts	11.9	11.8
NAV as a Practical Expedient	111.3
Total Assets Measured at Fair Value	522.4	551.6
Liability [Abstract]
Contingent consideration liability	40	38.7
Fair Value, Measurements, Recurring [Member] | Sponsored Funds [Member]
Assets [Abstract]
Equity securities, at fair value	309.7
Investment securities, trading		248.1
Available-for-sale securities		178.6
NAV as a Practical Expedient	23.5
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member]
Assets [Abstract]
Equity securities, at fair value	110
NAV as a Practical Expedient	87.8
Fair Value, Measurements, Recurring [Member] | Debt and Other Equity Securities [Member]
Assets [Abstract]
Investment securities, trading		97.6
Available-for-sale securities		15.5
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Assets [Abstract]
Debt securities, trading	2.5
Debt securities, available-for-sale	0
Life settlement contracts	0	0
Total Assets Measured at Fair Value	309.9	457.7
Liability [Abstract]
Contingent consideration liability	0	0
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Sponsored Funds [Member]
Assets [Abstract]
Equity securities, at fair value	286.2
Investment securities, trading		248.1
Available-for-sale securities		178.6
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Equity Securities [Member]
Assets [Abstract]
Equity securities, at fair value	21.2
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Debt and Other Equity Securities [Member]
Assets [Abstract]
Investment securities, trading		26.6
Available-for-sale securities		4.4
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Assets [Abstract]
Debt securities, trading	61.2
Debt securities, available-for-sale	10.7
Life settlement contracts	0	0
Total Assets Measured at Fair Value	72.2	61.3
Liability [Abstract]
Contingent consideration liability	0	0
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Sponsored Funds [Member]
Assets [Abstract]
Equity securities, at fair value	0
Investment securities, trading		0
Available-for-sale securities		0
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Equity Securities [Member]
Assets [Abstract]
Equity securities, at fair value	0.3
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Debt and Other Equity Securities [Member]
Assets [Abstract]
Investment securities, trading		50.5
Available-for-sale securities		10.8
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Assets [Abstract]
Debt securities, trading	16.1
Debt securities, available-for-sale	0.3
Life settlement contracts	11.9	11.8
Total Assets Measured at Fair Value	29	32.6
Liability [Abstract]
Contingent consideration liability	40	38.7
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Sponsored Funds [Member]
Assets [Abstract]
Equity securities, at fair value	0
Investment securities, trading		0
Available-for-sale securities		0
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Equity Securities [Member]
Assets [Abstract]
Equity securities, at fair value	$ 0.7
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Debt and Other Equity Securities [Member]
Assets [Abstract]
Investment securities, trading		20.5
Available-for-sale securities		$ 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	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period - assets	$ 350	$ 296.1
Total realized and unrealized gains (losses) - assets	3.2	2
Purchases - assets	17.9	11.1
Sales - assets	(6.3)	(14.9)
Transfers out of Level 3 - assets	(29)	0
Balance at End of Period - assets	333.7	295.8
Change in unrealized gains (losses) included in net income relating to assets and liability held at end of period - assets	10.3	1.1
Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period - assets	32.6	199.9
Purchases - assets	0	5.3
Sales - assets	(4.3)	0
Transfers out of Level 3 - assets	(2.1)	0
Foreign exchange revaluation and other	0	3.7
Balance at End of Period - assets	29	210.1
Change in unrealized gains (losses) included in net income relating to assets and liability held at end of period - assets	2.8	1.2
Contingent Consideration Liability [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period - liability	(38.7)	(51)
Purchases - liability	0	0
Sales - liability	0	0
Transfers out of Level 3 - liability	0	0
Foreign exchange revaluation and other	0	(7)
Balance at End of Period - liability	(40)	(62)
Change in unrealized gains (losses) included in net income relating to assets and liability held at end of period - liability	(1.3)	(4)
Investment and other income [Member] | Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total realized and unrealized gains (losses) - assets	2.8	1.2
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) - liability	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) - liability	$ (1.3)	$ (4)

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 ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Debt securities, trading	$ 79.8
Investment securities, trading		$ 345.7
Contingent Consideration Liability [Member] | Weighted Average [Member] | Discounted cash flow [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	12.30%	13.00%
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	20.00%	20.00%
Life expectancy	113 months	115 months
Life Settlement Contracts [Member] | Weighted Average [Member] | Discounted cash flow [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	13.20%	13.10%
Life expectancy	59 months	61 months
Debt And Equity Securities [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Investment securities, trading		$ 97.6
Debt And Equity Securities [Member] | Minimum [Member] | Discounted cash flow [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate		4.10%
Risk premium		2.00%
Debt And Equity Securities [Member] | Maximum [Member] | Discounted cash flow [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate		12.30%
Risk premium		6.70%
Debt And Equity Securities [Member] | Weighted Average [Member] | Discounted cash flow [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate		5.80%
Risk premium		3.60%
Debt Securities [Member] | Minimum [Member] | Discounted cash flow [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	4.00%
Risk premium	2.00%
Debt Securities [Member] | Maximum [Member] | Discounted cash flow [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	12.70%
Risk premium	6.00%
Debt Securities [Member] | Weighted Average [Member] | Discounted cash flow [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	6.30%
Risk premium	2.90%

Fair Value Measurements - Sch_4

Fair Value Measurements - Schedule of Financial Instruments not Measured at Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017
Financial Assets [Abstract]
Cash and cash equivalents	$ 6,658.9	$ 6,910.6	$ 8,970.4	$ 8,749.7
Other investments	55.6	105.9
Carrying Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	6,430.7	6,610.8
Time deposits	15.1	12.3
Financial Liability [Abstract]
Debt	697.7	695.9
Estimated Fair Value [Member] | Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	6,430.7	6,610.8
Estimated Fair Value [Member] | Level 2 [Member]
Financial Assets [Abstract]
Time deposits	15.1	12.3
Financial Liability [Abstract]
Debt	675.2	671.1
Equity Securities [Member] | Carrying Value [Member]
Financial Assets [Abstract]
Other investments	28.6	81.8
Equity Securities [Member] | Estimated Fair Value [Member] | Level 3 [Member]
Financial Assets [Abstract]
Other investments	$ 28.6	$ 103.6

Consolidated Investment Produ_3

Consolidated Investment Products - Narrative (Details) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)
Consolidated Investment Products [Abstract]
Number of consolidated investment products	57	53
Schedule Of Consolidated Investment Products [Line Items]
Debt	$ 697.7	$ 695.9
Nonredeemable Equity and Infrastructure Funds [Member]
Schedule Of Consolidated Investment Products [Line Items]
Liquidation weighted-average period	2 years 1 month
CIPs' unfunded commitments	$ 5
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Debt	$ 32.7	$ 32.6
Effective Interest Rate	6.81%	6.79%
CIPs [Member] | Nonredeemable Equity and Infrastructure Funds [Member]
Schedule Of Consolidated Investment Products [Line Items]
Liquidation weighted-average period	4 years	3 years 6 months
CIPs' unfunded commitments	$ 62.8	$ 1.9
Unfunded commitments Company contractually obligated to fund	$ 19	$ 0.4
CIPs [Member] | Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Stated interest rate	3.07%	3.07%
CIPs [Member] | Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Stated interest rate	7.90%	7.88%

Consolidated Investment Produ_4

Consolidated Investment Products - Schedule of Balances of CIPs (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017
Assets [Abstract]
Cash and cash equivalents	$ 6,658.9	$ 6,910.6	$ 8,970.4	$ 8,749.7
Receivables	723.9	733.7
Investments, at fair value	522.4	551.6
Other assets	192.5	220.7
Total Assets	13,950.6	14,383.5
Liabilities [Abstract]
Accounts payable and accrued expenses	180.5	158.9
Debt	697.7	695.9
Other liabilities	179.8	184.1
Total liabilities	2,941.6	3,132
Redeemable Noncontrolling Interests	932.3	1,043.6	2,208.1	1,941.9
Stockholders' Equity [Abstract]
Franklin Resources, Inc.’s interests	9,745.4	9,899.2
Nonredeemable noncontrolling interests	331.3	308.7
Total stockholders’ equity	10,076.7	10,207.9	$ 12,080.5	$ 12,935.8
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	13,950.6	14,383.5
CIPs [Member]
Assets [Abstract]
Cash and cash equivalents	228.2	299.8
Receivables	81.7	114.2
Investments, at fair value	2,040.2	2,109.4
Other assets	0	1
Total Assets	2,350.1	2,524.4
Liabilities [Abstract]
Accounts payable and accrued expenses	28.9	68
Debt	32.7	32.6
Other liabilities	0	9.3
Total liabilities	61.6	109.9
Redeemable Noncontrolling Interests	932.3	1,043.6
Stockholders' Equity [Abstract]
Franklin Resources, Inc.’s interests	1,052.1	1,092.6
Nonredeemable noncontrolling interests	304.1	278.3
Total stockholders’ equity	1,356.2	1,370.9
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	$ 2,350.1	$ 2,524.4

Consolidated Investment Produ_5

Consolidated Investment Products - Schedule of Investments of CIPs (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Schedule Of Consolidated Investment Products [Line Items]
Investment securities, trading		$ 345.7
Other investments	$ 55.6	105.9
Total	522.4	551.6
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investment securities, trading	1,570.5	1,651.8
Total	2,040.2	2,109.4
Equity Securities [Member] | CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Other investments	329.6	311
Debt Securities [Member] | CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Other investments	$ 140.1	$ 146.6

Consolidated Investment Produ_6

Consolidated Investment Products - Schedule of Balances of Assets and Liabilities of CIPs Measured at Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Assets [Abstract]
Investments, at fair value	$ 522.4	$ 551.6
CIPs [Member]
Assets [Abstract]
Investments, at fair value	2,040.2	2,109.4
Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	522.4	551.6
Liability [Abstract]
NAV as a Practical Expedient	111.3
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	309.9	457.7
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	72.2	61.3
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	29	32.6
Fair Value, Measurements, Recurring [Member] | CIPs [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	2,040.2	2,109.4
Liability [Abstract]
Other liabilities		9.3
NAV as a Practical Expedient	137.5	113.8
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 1 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	155.7	271.3
Liability [Abstract]
Other liabilities		0.6
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 2 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	1,413.3	1,374.3
Liability [Abstract]
Other liabilities		8.7
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	333.7	350
Liability [Abstract]
Other liabilities		0
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member]
Assets [Abstract]
Investments, at fair value	720.3	739
Liability [Abstract]
NAV as a Practical Expedient	137.5	113.8
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 1 [Member]
Assets [Abstract]
Investments, at fair value	155.4	270.7
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 2 [Member]
Assets [Abstract]
Investments, at fair value	233.8	154.8
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member]
Assets [Abstract]
Investments, at fair value	193.6	199.7
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member]
Assets [Abstract]
Investments, at fair value	1,319.9	1,370.4
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 1 [Member]
Assets [Abstract]
Investments, at fair value	0.3	0.6
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 2 [Member]
Assets [Abstract]
Investments, at fair value	1,179.5	1,219.5
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member]
Assets [Abstract]
Investments, at fair value	$ 140.1	$ 150.3

Consolidated Investment Produ_7

Consolidated Investment Products - Schedule of Changes in Level 3 Assets of CIPs (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Schedule Of Consolidated Investment Products [Line Items]
Transfers into Level 3	$ 0	$ 0
Level 3 [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of period - assets	350	296.1
Realized and unrealized gains (losses) included in investment and other income, net	3.2	2
Purchases	17.9	11.1
Sales	(6.3)	(14.9)
Settlements	(1.1)	0
Transfers into Level 3	0.1	0
Transfers out of Level 3	(29)	0
Foreign exchange revaluation	(1.1)	1.5
Balance at End of Period - assets	333.7	295.8
Change in unrealized gains (losses) included in net income (loss) relating to assets held at end of period	10.3	1.1
Level 3 [Member] | Equity Securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of period - assets	199.7	160.7
Realized and unrealized gains (losses) included in investment and other income, net	11.4	1.9
Purchases	9.7	11.1
Sales	(0.1)	(14.9)
Settlements	(1)	0
Transfers into Level 3	0.1	0
Transfers out of Level 3	(25.4)	0
Foreign exchange revaluation	(0.8)	0.8
Balance at End of Period - assets	193.6	159.6
Change in unrealized gains (losses) included in net income (loss) relating to assets held at end of period	11.7	1
Level 3 [Member] | Debt Securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of period - assets	150.3	135.4
Realized and unrealized gains (losses) included in investment and other income, net	(8.2)	0.1
Purchases	8.2	0
Sales	(6.2)	0
Settlements	(0.1)	0
Transfers into Level 3	0	0
Transfers out of Level 3	(3.6)	0
Foreign exchange revaluation	(0.3)	0.7
Balance at End of Period - assets	140.1	136.2
Change in unrealized gains (losses) included in net income (loss) relating to assets held at end of period	$ (1.4)	$ 0.1

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	3 Months Ended	12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value	$ 522.4	$ 551.6
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value	$ 2,040.2	$ 2,109.4
Equity Securities [Member] | Minimum [Member] | Market comparable companies [Member]
Schedule Of Consolidated Investment Products [Line Items]
EBITDA multiple	5	5
Equity Securities [Member] | Minimum [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Discount rate	8.00%	8.00%
Equity Securities [Member] | Maximum [Member] | Market comparable companies [Member]
Schedule Of Consolidated Investment Products [Line Items]
EBITDA multiple	13.6	13.6
Equity Securities [Member] | Maximum [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Discount rate	16.50%	16.50%
Equity Securities [Member] | Weighted Average [Member] | Market comparable companies [Member]
Schedule Of Consolidated Investment Products [Line Items]
EBITDA multiple	9.1	9.3
Equity Securities [Member] | Weighted Average [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Discount rate	13.80%	14.10%
Equity Securities [Member] | CIPs [Member] | Level 3 [Member] | Market comparable companies [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value	$ 165.3	$ 171.9
Equity Securities [Member] | CIPs [Member] | Level 3 [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value	$ 28.3	$ 27.8
Debt Securities [Member] | Minimum [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Discount rate	7.00%	7.00%
Debt Securities [Member] | Maximum [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Discount rate	14.80%	14.80%
Debt Securities [Member] | Weighted Average [Member] | Market comparable companies [Member]
Schedule Of Consolidated Investment Products [Line Items]
EBITDA multiple	20.9	20.9
Price-to-earnings ratio	$ 10	$ 10
Debt Securities [Member] | Weighted Average [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Discount rate	10.80%	10.80%
Debt Securities [Member] | Weighted Average [Member] | Market Pricing [Member]
Schedule Of Consolidated Investment Products [Line Items]
Private sale pricing		$ 0.42
Debt Securities [Member] | CIPs [Member] | Level 3 [Member] | Market comparable companies [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value	$ 23.5	$ 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	$ 116.6	111
Debt Securities [Member] | CIPs [Member] | Level 3 [Member] | Market Pricing [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		$ 5.4
Other Debt Obligations [Member] | Minimum [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Discount rate	3.00%	3.00%
Other Debt Obligations [Member] | Maximum [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Discount rate	22.70%	22.70%
Other Debt Obligations [Member] | Weighted Average [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Discount rate	13.20%	12.00%

Consolidated Investment Produ_9

Consolidated Investment Products - Schedule of Financial Instruments of CIPs not Measured at Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017
Financial Assets [Abstract]
Cash and cash equivalents	$ 6,658.9	$ 6,910.6	$ 8,970.4	$ 8,749.7
Financial Liability [Abstract]
Debt	697.7	695.9
CIPs [Member]
Financial Assets [Abstract]
Cash and cash equivalents	228.2	299.8
Financial Liability [Abstract]
Debt	32.7	32.6
Carrying Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	6,430.7	6,610.8
Carrying Value [Member] | CIPs [Member]
Financial Assets [Abstract]
Cash and cash equivalents	228.2	299.8
Financial Liability [Abstract]
Debt	32.7	32.6
Estimated Fair Value [Member] | Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	6,430.7	6,610.8
Estimated Fair Value [Member] | CIPs [Member] | Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	228.2	299.8
Estimated Fair Value [Member] | CIPs [Member] | Level 3 [Member]
Financial Liability [Abstract]
Debt	$ 32.6	$ 32.4

Consolidated Investment Prod_10

Consolidated Investment Products - Schedule of Redeemable Noncontrolling Interest of CIPs (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Temporary Equity [Line Items]
Balance at beginning of period	$ 1,043.6	$ 1,941.9
Net income (loss)	(15.4)	11.5
Net subscriptions and other	23.1	7
Net deconsolidations		(0.3)
Balance at End of Period	932.3	2,208.1
Redeemable Noncontrolling Interests [Member]
Temporary Equity [Line Items]
Net subscriptions and other	22.8	254.7
Net deconsolidations	$ (118.7)	$ 0

Nonconsolidated Variable Inte_3

Nonconsolidated Variable Interest Entities - Narrative (Details) - Nonconsolidated VIEs [Member] $ in Millions	12 Months Ended
	Sep. 30, 2018USD ($)
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	Dec. 31, 2018	Sep. 30, 2018
Variable Interest Entity [Line Items]
Maximum exposure to loss	$ 361.1	$ 301.9
Investments [Member]
Variable Interest Entity [Line Items]
Maximum exposure to loss	228	161.8
Receivables [Member]
Variable Interest Entity [Line Items]
Maximum exposure to loss	$ 133.1	$ 140.1

Taxes on Income - Narrative (De

Taxes on Income - Narrative (Details) $ in Millions	Dec. 31, 2018USD ($)
Income Tax Disclosure [Abstract]
Transition tax liability	$ 982.8
Net tax benefit	$ 87.6

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	3 Months Ended
	Dec. 31, 2018USD ($)
Loss Contingencies [Line Items]
Accrued cash settlement payment	$ 13.9
Plan's employer matching contributions	75.00%
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
Other Plan Changes [Member]
Loss Contingencies [Line Items]
Plan's employer matching contributions	85.00%

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ in Millions	3 Months Ended
	Dec. 31, 2018USD ($)
Share-based Compensation [Abstract]
Unrecognized compensation expense related to nonvested stock and stock unit awards	$ 211
Remaining weighted-average vesting period	2 years 1 month

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) shares in Thousands	3 Months Ended
	Dec. 31, 2018$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested balance at October 1, 2018	4,491
Granted	4,195
Vested	(857)
Forfeited/canceled	(214)
Nonvested Balance at December 31, 2018	7,615
Nonvested beginning balance, Weighted Average Grant Date Fair Value | $ / shares	$ 39.08
Weighted Average Grant Date Fair Value of shares granted | $ / shares	30.79
Weighted Average Grant Date Fair Value of shares vested | $ / shares	38.07
Weighted Average Grant Date Fair Value of shares forfeited/canceled | $ / shares	39.86
Nonvested ending balance, Weighted Average Grant Date Fair Value | $ / shares	$ 34.61
Time-Based Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested balance at October 1, 2018	2,678
Granted	3,305
Vested	(251)
Forfeited/canceled	(51)
Nonvested Balance at December 31, 2018	5,681
Performance-Based Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested balance at October 1, 2018	1,813
Granted	890
Vested	(606)
Forfeited/canceled	(163)
Nonvested Balance at December 31, 2018	1,934

Other Income (Expenses) - Narra

Other Income (Expenses) - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Other Income and Expenses [Abstract]
Proceeds from the sale of available-for-sale securities		$ 16
Net losses recognized on trading investment securities and other equity securities	$ 12.1
Net gains recognized on trading investment securities		1.3
Net gains (losses) recognized on trading investment securities of CIPs	$ (31.2)	$ 20

Other Income (Expenses) - Sched

Other Income (Expenses) - Schedule of Other Income (Expense) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Other Income and Expenses [Abstract]
Dividend income	$ 25.6	$ 4.7
Interest income	9	23.8
Gains (losses) on investments, net	(15.8)	0.6
Income (losses) from investments in equity method investees	(37.6)	35.2
Gains (losses) on investments of CIPs, net	(49)	16
Rental income	4.9	3.7
Foreign currency exchange gains (losses), net	4.7	(2.9)
Other income, net		0.2
Other expense, net	(0.9)
Total	(59.1)	81.3
Interest Expense	(6.4)	(10.8)
Other Income (Expenses), Net	$ (65.5)	$ 70.5

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income (Loss) by Component (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Oct. 01, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	$ (370.6)	$ (284.8)
Other comprehensive loss before reclassifications, net of tax	(14.8)	18.2
Reclassifications to net investment and other income (losses), net of tax	(0.2)	0
Total other comprehensive income (loss)	(15)	18.2
Balance at end of period	(393.6)	(266.6)
ASU 2016-01 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Adoption of new accounting guidance			$ (8)
Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(372.9)	(281)
Other comprehensive loss before reclassifications, net of tax	(14.4)	15.8
Reclassifications to net investment and other income (losses), net of tax	(0.2)	0
Total other comprehensive income (loss)	(14.6)	15.8
Balance at end of period	(387.5)	(265.2)
Unrealized Losses on Defined Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(4.2)	(6)
Other comprehensive loss before reclassifications, net of tax	(0.4)	(1.1)
Reclassifications to net investment and other income (losses), net of tax	0	0
Total other comprehensive income (loss)	(0.4)	(1.1)
Balance at end of period	(4.6)	(7.1)
Unrealized Gains (Losses) on Investments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	6.5	2.2
Other comprehensive loss before reclassifications, net of tax	0	3.5
Reclassifications to net investment and other income (losses), net of tax	0	0
Total other comprehensive income (loss)	0	3.5
Balance at end of period	$ (1.5)	$ 5.7
Unrealized Gains (Losses) on Investments [Member] | ASU 2016-01 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Adoption of new accounting guidance			$ (8)