Franklin Resources (BEN) 10-Q 30 Jul 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jun. 30, 2019	Jul. 23, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	001-09318
Entity Registrant Name	FRANKLIN RESOURCES, INC.
Entity Central Index Key	0000038777
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-2670991
Entity Address, Address Line One	One Franklin Parkway
Entity Address, City or Town	San Mateo
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94403
City Area Code	(650)
Local Phone Number	312-2000
Title of 12(b) Security	Common Stock, par value $0.10 per share
Trading Symbol	BEN
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		503,666,583

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Operating Revenues
Other	$ 37.1	$ 35.4	$ 92.7	$ 94.2
Total operating revenues	1,476.7	1,558.6	4,322	4,791.9
Operating Expenses
Sales, distribution and marketing	462.4	499.8	1,356.3	1,550
Compensation and benefits	437.7	357.5	1,202.3	1,045.5
Information systems and technology	65.7	62.5	188.7	175.6
Occupancy	32.2	30.5	94.8	94
General, administrative and other	103.8	105.2	314	286.9
Total operating expenses	1,101.8	1,055.5	3,156.1	3,152
Operating Income	374.9	503.1	1,165.9	1,639.9
Other Income (Expenses)
Investment and other income (losses), net	44.2	(33.8)	103.8	134.9
Interest expense	(5.6)	(22.1)	(17.7)	(42.9)
Other income (expenses), net	38.6	(55.9)	86.1	92
Income before taxes	413.5	447.2	1,252	1,731.9
Taxes on income	158.9	91.8	355.8	1,465.5
Net income	254.6	355.4	896.2	266.4
Less: net income (loss) attributable to
Redeemable noncontrolling interests	0.1	(45)	6.2	(18.3)
Nonredeemable noncontrolling interests	8.6	(1.6)	0.7	22.8
Net Income Attributable to Franklin Resources, Inc.	$ 245.9	$ 402	$ 889.3	$ 261.9
Earnings per Share
Basic	$ 0.48	$ 0.75	$ 1.74	$ 0.45
Diluted	$ 0.48	$ 0.75	$ 1.74	$ 0.45
Investment management fees [Member]
Operating Revenues
Operating revenues	$ 1,019.4	$ 1,077.9	$ 2,983.6	$ 3,308.6
Sales and distribution fees [Member]
Operating Revenues
Operating revenues	367.5	391.4	1,080.8	1,219
Shareholder servicing fees [Member]
Operating Revenues
Operating revenues	$ 52.7	$ 53.9	$ 164.9	$ 170.1

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net Income	$ 254.6	$ 355.4	$ 896.2	$ 266.4
Other Comprehensive Income (Loss)
Currency translation adjustments, net of tax	1.9	(86.7)	(4.8)	(64.1)
Net unrealized gains (losses) on defined benefit plans, net of tax	0.1	0.2	(1)	(0.5)
Net unrealized gains on investments, net of tax	3.6	3.3	3.5	6.6
Total other comprehensive income (loss)	5.6	(83.2)	(2.3)	(58)
Total comprehensive income	260.2	272.2	893.9	208.4
Less: comprehensive income (loss) attributable to
Redeemable noncontrolling interests	0.1	(45)	6.2	(18.3)
Nonredeemable noncontrolling interests	8.6	(1.6)	0.7	22.8
Comprehensive Income Attributable to Franklin Resources, Inc.	$ 251.5	$ 318.8	$ 887	$ 203.9

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2019	Sep. 30, 2018
Assets
Cash and cash equivalents	$ 5,757.6	$ 6,910.6
Receivables	757.8	733.7
Investments	1,622	1,426.5
Investments, at fair value	619.4	551.6
Property and equipment, net	684.8	535
Goodwill and other intangible assets, net	3,013.4	2,333.4
Other	184.2	220.7
Total Assets	14,463.3	14,383.5
Liabilities
Compensation and benefits	460	405.6
Accounts payable and accrued expenses	207.8	158.9
Dividends	138.3	127.7
Commissions	263.4	297.9
Income taxes	850.1	1,034.8
Debt	697	695.9
Deferred taxes	118.9	126.5
Other	271.1	184.1
Total liabilities	3,091	3,132
Commitments and Contingencies (Note 11)
Redeemable Noncontrolling Interests	806.5	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; 504,120,477 and 519,122,574 shares issued and outstanding at June 30, 2019 and September 30, 2018	50.4	51.9
Retained earnings	10,241.5	10,217.9
Accumulated other comprehensive loss	(380.9)	(370.6)
Total Franklin Resources, Inc. stockholders’ equity	9,911	9,899.2
Nonredeemable noncontrolling interests	654.8	308.7
Total stockholders’ equity	10,565.8	10,207.9
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	14,463.3	14,383.5
Consolidated Investment Products [Member]
Assets
Cash and cash equivalents	248.8	299.8
Receivables	92.4	114.2
Investments, at fair value	2,351.1	2,109.4
Other	0	1
Total Assets	2,692.3	2,524.4
Liabilities
Accounts payable and accrued expenses	52.6	68
Debt	31.8	32.6
Other	0.1	9.3
Total liabilities	84.5	109.9
Redeemable Noncontrolling Interests	806.5	1,043.6
Stockholders’ Equity
Total Franklin Resources, Inc. stockholders’ equity	1,332	1,092.6
Nonredeemable noncontrolling interests	469.3	278.3
Total stockholders’ equity	1,801.3	1,370.9
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	2,692.3	2,524.4
Franklin Resources, Inc. [Member]
Assets
Cash and cash equivalents	$ 5,508.8	$ 6,610.8

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2019	Sep. 30, 2018
Statement of Financial Position [Abstract]
Investments, at fair value	$ 619.4	$ 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	504,120,477	519,122,574
Common stock, shares outstanding	504,120,477	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)
Nonredeemable noncontrolling interests							(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 (distributions) and other	7						7
Consolidation (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
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)	261.9
Nonredeemable noncontrolling interests	22.8
Other comprehensive income (loss)	(58)
Ending balance - Shares at Jun. 30, 2018		529.1
Ending balance at Jun. 30, 2018		$ 52.9	0	10,153.5	(342.9)	9,863.5
Ending balance at Jun. 30, 2018							326.9
Ending balance at Jun. 30, 2018	10,190.4
Stockholders' Equity [Roll Forward]
Adoption of new accounting guidance | ASU 2018-02 [Member]	0			0.1	(0.1)	0
Beginning balance - Shares at Dec. 31, 2017		552.4
Beginning balance at Dec. 31, 2017		$ 55.2	0	11,969.5	(266.6)	11,758.1
Beginning balance at Dec. 31, 2017							322.4
Beginning balance at Dec. 31, 2017	12,080.5
Stockholders' Equity [Roll Forward]
Net income (loss)				443.2		443.2
Nonredeemable noncontrolling interests							24.5
Net income (loss)	467.7
Other comprehensive income (loss)	7				7	7
Dividends declared on common stock	(1,762)			(1,762)		(1,762)
Repurchase of common stock - Shares		(11.1)
Repurchase of common stock - Amount	(432.6)	$ (1.1)	(44.6)	(386.9)		(432.6)
Issuance of common stock - Shares		0.4
Issuance of common stock - Amount	13.8	$ 0.1	13.7			13.8
Stock-based compensation	30.9		30.9			30.9
Net subscriptions (distributions) and other	(1.3)						(1.3)
Consolidation (deconsolidation) of investment product	(1.8)						(1.8)
Ending balance - Shares at Mar. 31, 2018		541.7
Ending balance at Mar. 31, 2018		$ 54.2	0	10,263.9	(259.7)	10,058.4
Ending balance at Mar. 31, 2018							343.8
Ending balance at Mar. 31, 2018	10,402.2
Stockholders' Equity [Roll Forward]
Net income (loss)	402			402		402
Nonredeemable noncontrolling interests	(1.6)						(1.6)
Net income (loss)	400.4
Other comprehensive income (loss)	(83.2)				(83.2)	(83.2)
Dividends declared on common stock	(122.3)			(122.3)		(122.3)
Repurchase of common stock - Shares		(13.4)
Repurchase of common stock - Amount	(446.2)	$ (1.4)	(54.7)	(390.1)		(446.2)
Issuance of common stock - Amount	0.8		0.8			0.8
Stock-based compensation	27		27			27
Net subscriptions (distributions) and other	(19.8)						(19.8)
Consolidation (deconsolidation) of investment product	4.5						4.5
Acquisition - Shares		0.8
Acquisition	27	$ 0.1	26.9			27
Ending balance - Shares at Jun. 30, 2018		529.1
Ending balance at Jun. 30, 2018		$ 52.9	0	10,153.5	(342.9)	9,863.5
Ending balance at Jun. 30, 2018							326.9
Ending balance at Jun. 30, 2018	10,190.4
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
Nonredeemable noncontrolling interests							(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 (distributions) and other	23.1						23.1
Ending balance - Shares at Dec. 31, 2018		511.5
Ending balance at Dec. 31, 2018		$ 51.1	0	10,087.9	(393.6)	9,745.4
Ending balance at Dec. 31, 2018							331.3
Ending balance at Dec. 31, 2018	10,076.7
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)	889.3
Nonredeemable noncontrolling interests	0.7
Other comprehensive income (loss)	(2.3)
Ending balance - Shares at Jun. 30, 2019		504.1
Ending balance at Jun. 30, 2019	9,911	$ 50.4	0	10,241.5	(380.9)	9,911
Ending balance at Jun. 30, 2019	654.8						654.8
Ending balance at Jun. 30, 2019	10,565.8
Beginning balance - Shares at Dec. 31, 2018		511.5
Beginning balance at Dec. 31, 2018		$ 51.1	0	10,087.9	(393.6)	9,745.4
Beginning balance at Dec. 31, 2018							331.3
Beginning balance at Dec. 31, 2018	10,076.7
Stockholders' Equity [Roll Forward]
Net income (loss)				367.5		367.5
Nonredeemable noncontrolling interests							(7.4)
Net income (loss)	360.1
Other comprehensive income (loss)	7.1				7.1	7.1
Dividends declared on common stock	(132.6)			(132.6)		(132.6)
Repurchase of common stock - Shares		(4.6)
Repurchase of common stock - Amount	(144.7)	$ (0.4)	(41)	(103.3)		(144.7)
Issuance of common stock - Shares		0.8
Issuance of common stock - Amount	13.4	$ 0.1	13.3			13.4
Stock-based compensation	27.7		27.7			27.7
Net subscriptions (distributions) and other	51						51
Consolidation (deconsolidation) of investment product	24.3						24.3
Acquisition	216.1						216.1
Ending balance - Shares at Mar. 31, 2019		507.7
Ending balance at Mar. 31, 2019		$ 50.8	0	10,219.5	(386.5)	9,883.8
Ending balance at Mar. 31, 2019							615.3
Ending balance at Mar. 31, 2019	10,499.1
Stockholders' Equity [Roll Forward]
Net income (loss)	245.9			245.9		245.9
Nonredeemable noncontrolling interests	8.6						8.6
Net income (loss)	254.5
Other comprehensive income (loss)	5.6				5.6	5.6
Dividends declared on common stock	(131.7)			(131.7)		(131.7)
Repurchase of common stock - Shares		(3.6)
Repurchase of common stock - Amount	(121.3)	$ (0.4)	(28.7)	(92.2)		(121.3)
Issuance of common stock - Shares		0
Issuance of common stock - Amount	0.6	$ 0	0.6			0.6
Stock-based compensation	28.1		28.1			28.1
Net subscriptions (distributions) and other	30.9						30.9
Ending balance - Shares at Jun. 30, 2019		504.1
Ending balance at Jun. 30, 2019	9,911	$ 50.4	$ 0	$ 10,241.5	$ (380.9)	$ 9,911
Ending balance at Jun. 30, 2019	654.8						$ 654.8
Ending balance at Jun. 30, 2019	$ 10,565.8

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Statement of Stockholders' Equity [Abstract]
Dividends declared per share	$ 0.26	$ 0.26	$ 0.26	$ 0.23	$ 3.23	$ 0.23

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Net cash provided by operating activities
Net Income	$ 896.2	$ 266.4
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of deferred sales commissions	60.1	60.5
Depreciation and other amortization	67.4	58.7
Stock-based compensation	88.1	89.5
Income from investments in equity method investees	(15.1)	(41.8)
Net losses on investments of consolidated investment products	15.5	15.3
Net (purchase) liquidation of investments by consolidated investment products	(1,047.6)	185.2
Deferred income taxes	(1.5)	(54.5)
Other	27.1	28.3
Changes in operating assets and liabilities:
Increase in receivables and other assets	(11.5)	(79.2)
Decrease (increase) in receivables of consolidated investment products	(17.1)	97.1
Decrease (increase) in investments, net	116.2	(165.7)
Increase (decrease) in accrued compensation and benefits	43.2	(18.6)
Decrease in commissions payable	(34.5)	(22)
Increase (decrease) in income taxes payable	(184.7)	1,106.6
Increase (decrease) in accounts payable, accrued expenses and other liabilities	104.1	(18.4)
Increase in accounts payable and accrued expenses of consolidated investment products	63.4	1.1
Net cash provided by operating activities	169.3	1,508.5
Net cash used in investing activities
Purchase of investments	(262.3)	(250)
Liquidation of investments	195.2	127.5
Purchase of investments by consolidated investment products	0	(46.1)
Liquidation of investments by consolidated investment products	0	72.3
Additions of property and equipment, net	(202.6)	(71.5)
Acquisitions, net of cash acquired	(684.2)	(97)
Net deconsolidation of investment products	(54.9)	(8)
Net cash used in investing activities	(1,008.8)	(272.8)
Net cash used in financing activities
Issuance of common stock	12.8	13.6
Dividends paid on common stock	(387.5)	(1,994.9)
Repurchase of common stock	(589.8)	(1,056)
Payment on debt	(1.2)	(361.9)
Proceeds from loan	1.7	0
Payments on debt by consolidated investment products	(1)	(19.6)
Payments on contingent consideration liability	(20.4)	(21.6)
Noncontrolling interests	683.4	123.7
Net cash used in financing activities	(302)	(3,316.7)
Effect of exchange rate changes on cash and cash equivalents	(11.5)	(14.5)
Decrease in cash and cash equivalents	(1,153)	(2,095.5)
Cash and cash equivalents, beginning of period	6,910.6	8,749.7
Cash and Cash Equivalents, End of Period	5,757.6	6,654.2
Supplemental Disclosure of Cash Flow Information
Cash paid for income taxes	414.9	414.9
Cash paid for interest	16.5	34.2
Cash paid for interest by consolidated investment products	$ 1.7	$ 1.9

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jun. 30, 2019
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 June 30, 2019 .

New Accounting Guidance

New Accounting Guidance	9 Months Ended
	Jun. 30, 2019
Accounting Changes and Error Corrections [Abstract]
New Accounting Guidance	New Accounting Guidance Recently Adopted 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 statements of income were impacted as follows: Three Months Ended June 30, 2019 Nine Months Ended June 30, 2019 As Reported Adoption Impact Amount Without Adoption As Reported Adoption Impact Amount Without Adoption (in millions) Operating Revenues Investment management fees $ 1,019.4 $ 14.7 $ 1,034.1 $ 2,983.6 $ 45.1 $ 3,028.7 Sales and distribution fees 367.5 (14.7 ) 352.8 1,080.8 (45.1 ) 1,035.7 Shareholder servicing fees 52.7 (2.0 ) 50.7 164.9 (5.7 ) 159.2 Operating Expenses General, administrative and other $ 103.8 $ (2.0 ) $ 101.8 $ 314.0 $ (5.7 ) $ 308.3 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 . Accounting Guidance Not Yet Adopted The FASB issued new guidance for the accounting for leases in February 2016. The new guidance requires lessees to recognize assets and liabilities arising from substantially all leases. The guidance also requires an evaluation at the inception of a contract to determine whether the contract is or contains a lease. The Company will adopt the guidance on October 1, 2019 and recognize a cumulative effect adjustment to retained earnings as of that date. There were no other 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.

Acquisition

Acquisition	9 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Acquisition	Acquisition On February 1, 2019 , the Company acquired all of the outstanding ownership interests in Benefit Street Partners L.L.C., a U.S. alternative credit manager, for a purchase consideration of $720.1 million in cash, of which $135.0 million was used to retire debt. The acquisition provides the Company private credit capabilities that complement its alternative and fixed income strategies available to clients. The purchase consideration was adjusted by $2.7 million during the quarter ended June 30, 2019 . The revised allocation of estimated fair values of the assets acquired and liabilities and noncontrolling interests assumed is as follows: (in millions) Revised Estimated Fair Value as of February 1, 2019 Cash $ 33.2 Investments 138.8 Investments of consolidated investment products 84.9 Indefinite-lived intangible assets 307.5 Definite-lived intangible assets 75.8 Goodwill 318.3 Other assets 35.2 Other liabilities (57.5 ) Nonredeemable noncontrolling interests (216.1 ) Total Identifiable Net Assets $ 720.1 The goodwill is primarily attributable to expected growth from the private credit asset class. The amount of goodwill expected to be deductible for tax purposes is $425.8 million , which includes deferred payments that are recognized as compensation expense for accounting purposes. The intangible assets relate to acquired investment management contracts. Indefinite-lived intangible assets represent contracts for which there is no foreseeable limit on the contract period. Definite-lived intangible assets are amortized over their estimated useful lives, which range from four to six years . Amortization expense related to the definite-lived intangible assets was $4.1 million and $7.2 million for the three and nine months ended June 30, 2019 . These assets had a weighted-average remaining useful life of 4.1 years at June 30, 2019 , with estimated remaining amortization expense as follows: (in millions) for the fiscal years ending September 30, Amount 2019 (remainder of year) $ 4.3 2020 17.2 2021 17.2 2022 17.2 2023 8.0 Thereafter 4.7 Total $ 68.6 Costs incurred in connection with the acquisition were $6.8 million for the nine months ended June 30, 2019 . The Company has not presented pro forma combined results of operations for this acquisition because the results of operations as reported in the accompanying consolidated statements of income would not have been materially different.

Earnings per Share

Earnings per Share	9 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share The components of basic and diluted earnings per share were as follows: (in millions, except per share data) Three Months Ended Nine Months Ended 2019 2018 2019 2018 Net income attributable to Franklin Resources, Inc. $ 245.9 $ 402.0 $ 889.3 $ 261.9 Less: allocation of earnings to participating nonvested stock and stock unit awards 2.6 3.3 8.8 17.1 Net Income Available to Common Stockholders $ 243.3 $ 398.7 $ 880.5 $ 244.8 Weighted-average shares outstanding – basic 501.6 533.0 505.6 542.9 Dilutive effect of nonparticipating nonvested stock unit awards 0.7 0.5 0.5 0.7 Weighted-Average Shares Outstanding – Diluted 502.3 533.5 506.1 543.6 Earnings per Share Basic $ 0.48 $ 0.75 $ 1.74 $ 0.45 Diluted 0.48 0.75 1.74 0.45 Nonparticipating nonvested stock unit awards excluded from the calculation of diluted earnings per share because their effect would have been antidilutive were 0.2 million for the three and nine months ended June 30, 2019 , and 0.8 million and 0.3 million for the three and nine months ended June 30, 2018 .

Revenues

Revenues	9 Months Ended
	Jun. 30, 2019
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 $ 585.7 $ 269.6 $ 79.3 $ 62.3 $ 22.5 $ — $ 1,019.4 Sales and distribution fees 240.4 111.1 15.5 0.2 0.3 — 367.5 Shareholder servicing fees 42.3 7.7 — 2.7 — — 52.7 Other 6.1 0.3 — 0.1 2.3 28.3 37.1 Total $ 874.5 $ 388.7 $ 94.8 $ 65.3 $ 25.1 $ 28.3 $ 1,476.7 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 nine months ended Investment management fees $ 1,684.4 $ 800.7 $ 247.8 $ 180.6 $ 70.1 $ — $ 2,983.6 Sales and distribution fees 702.0 328.9 47.9 0.9 1.1 — 1,080.8 Shareholder servicing fees 134.3 22.8 0.1 7.7 — — 164.9 Other 13.3 0.9 — 0.4 2.7 75.4 92.7 Total $ 2,534.0 $ 1,153.3 $ 295.8 $ 189.6 $ 73.9 $ 75.4 $ 4,322.0 __________________ 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	9 Months Ended
	Jun. 30, 2019
Investments [Abstract]
Investments	Investments The disclosures below include details of the Company’s investments, excluding those of consolidated investment products. See Note 8 – 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. 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 June 30, 2019 . Investments consisted of the following: (in millions) June 30, Equity securities, at fair value Sponsored funds $ 381.8 Other equity securities 148.3 Total equity securities, at fair value 530.1 Debt securities Trading 72.8 Available-for-sale 4.7 Total debt securities 77.5 Investments in equity method investees 971.9 Other investments 42.5 Total $ 1,622.0 (in millions) September 30, 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 investments that were classified as trading or 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. Effective 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 securities with aggregate carrying amounts of $1.2 million were pledged as collateral at both June 30, 2019 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 June 30, 2019 Debt securities $ 4.7 $ — $ — $ 4.7 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 There were no gross unrealized losses relating to investment securities, available-for-sale at June 30, 2019 . Such losses at September 30, 2018 aggregated by length of time that individual securities were 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 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 ) The Company recognized other-than-temporary impairment of $8.5 million in earnings during the three and nine months ended June 30, 2019 , and $0.3 million and $0.9 million during the three and nine months ended June 30, 2018 .

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Jun. 30, 2019
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 8 – 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 June 30, 2019 Assets Equity securities, at fair value Sponsored funds $ 310.9 $ — $ — $ 70.9 $ 381.8 Other equity securities 23.6 0.7 1.0 123.0 148.3 Debt securities Trading 0.1 53.4 19.3 — 72.8 Available-for-sale — 4.4 0.3 — 4.7 Life settlement contracts — — 11.8 — 11.8 Total Assets Measured at Fair Value $ 334.6 $ 58.5 $ 32.4 $ 193.9 $ 619.4 (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 was 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 consist of a redeemable global equity fund and nonredeemable private debt, equity, infrastructure and real estate funds. The redeemable global equity fund investment of $ 92.3 million at June 30, 2019 can be redeemed monthly, while the investments in nonredeemable funds 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 $52.0 million of the nonredeemable investments was 1.6 years at June 30, 2019 . The liquidation periods for a $48.5 million investment in a nonredeemable private debt fund and $1.1 million of investments in real estate funds are unknown. The Company’s unfunded commitments to the funds totaled $4.9 million at June 30, 2019 . Changes in the Level 3 assets and liability were as follows: 2019 2018 (in millions) Investments Investments Contingent for the three months ended June 30, Balance at beginning of period $ 33.9 $ 208.1 $ (31.2 ) Total realized and unrealized gains (losses) Included in investment and other income (losses), net 2.7 1.0 — Included in general, administrative and other expense — — (4.4 ) Purchases 3.7 5.4 — Sales (0.4 ) (0.4 ) — Settlements (2.5 ) (1.1 ) — Transfers out of Level 3 (5.0 ) — — Foreign exchange revaluation — (8.8 ) — Balance at End of Period $ 32.4 $ 204.2 $ (35.6 ) Change in unrealized gains (losses) included in net income relating to assets and liability held at end of period $ 0.4 $ 0.4 $ (4.4 ) 2019 2018 (in millions) Investments Contingent Investments Contingent for the nine months ended June 30, 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 6.3 — 4.0 — Included in general, administrative and other expense — (2.0 ) — (10.0 ) Purchases 8.7 — 12.1 — Sales (4.7 ) — (0.4 ) — Settlements (3.4 ) 40.7 (3.0 ) 32.4 Transfers out of Level 3 (7.1 ) — — — Foreign exchange revaluation and other — — (8.4 ) (7.0 ) Balance at End of Period $ 32.4 $ — $ 204.2 $ (35.6 ) Change in unrealized gains (losses) included in net income relating to assets and liability held at end of period $ 3.4 $ — $ 2.4 $ (10.0 ) There were no transfers into Level 3 during the nine months ended June 30, 2019 and 2018 . Valuation techniques and significant unobservable inputs used in the Level 3 fair value measurements were as follows: (in millions) as of June 30, 2019 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Debt securities, trading $ 19.3 Discounted cash flow Discount rate 3.2%–11.8% (6.3%) Risk premium 2.0%–6.8% (4.2%) Life settlement contracts 11.8 Discounted cash flow Life expectancy 20–109 months (58) Discount rate 8.0%–20.0% (13.4%) __________________ 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 June 30, 2019 , the resulting fair value of the assets would be lower (higher). Financial instruments that were not measured at fair value were as follows: (in millions) Fair Value Level June 30, 2019 September 30, 2018 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Assets Cash and cash equivalents 1 $ 5,508.8 $ 5,508.8 $ 6,610.8 $ 6,610.8 Other investments Time deposits 2 15.9 15.9 12.3 12.3 Equity securities 3 14.8 21.7 81.8 103.6 Financial Liability Debt 2 $ 697.0 $ 714.3 $ 695.9 $ 671.1

Consolidated Investment Product

Consolidated Investment Products	9 Months Ended
	Jun. 30, 2019
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, all of which are sponsored by the Company, and include both voting interest entities and variable interest entities. The Company had 63 and 53 CIPs as of June 30, 2019 and September 30, 2018 . The balances related to CIPs included in the Company’s consolidated balance sheets were as follows: (in millions) June 30, September 30, Assets Cash and cash equivalents $ 248.8 $ 299.8 Receivables 92.4 114.2 Investments, at fair value 2,351.1 2,109.4 Other assets — 1.0 Total Assets $ 2,692.3 $ 2,524.4 Liabilities Accounts payable and accrued expenses $ 52.6 $ 68.0 Debt 31.8 32.6 Other liabilities 0.1 9.3 Total liabilities 84.5 109.9 Redeemable Noncontrolling Interests 806.5 1,043.6 Stockholders ’ Equity Franklin Resources, Inc.’s interests 1,332.0 1,092.6 Nonredeemable noncontrolling interests 469.3 278.3 Total stockholders’ equity 1,801.3 1,370.9 Total Liabilities, Redeemable Noncontrolling Interests and Stockholders ’ Equity $ 2,692.3 $ 2,524.4 The CIPs did not have a significant impact on net income attributable to the Company during the three and nine months ended June 30, 2019 and 2018 . 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. 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 Total as of June 30, 2019 Assets Investments Debt securities $ 0.9 $ 1,288.1 $ 140.6 $ — $ 1,429.6 Equity securities 173.1 229.7 267.6 197.1 867.5 Real estate — — 29.1 — 29.1 Loans — — 24.9 — 24.9 Total Assets Measured at Fair Value $ 174.0 $ 1,517.8 $ 462.2 $ 197.1 $ 2,351.1 Liabilities Other liabilities $ — $ 0.1 $ — $ — $ 0.1 (in millions) Level 1 Level 2 Level 3 NAV as a Total as of September 30, 2018 Assets Investments Debt securities $ 0.6 $ 1,219.5 $ 118.0 $ — $ 1,338.1 Equity securities 270.7 154.8 199.7 113.8 739.0 Loans — — 32.3 — 32.3 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, other equity and debt instruments, real estate and loans 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 4.8 years and 3.5 years at June 30, 2019 and September 30, 2018 . The CIPs’ unfunded commitments to these funds totaled $173.4 million and $1.9 million , of which the Company was contractually obligated to fund $21.2 million and $0.4 million based on its ownership percentage in the CIPs, at June 30, 2019 and September 30, 2018 . Changes in Level 3 assets were as follows: (in millions) Equity Debt Real Estate Loans Total for the three months ended June 30, 2019 Balance at April 1, 2019 $ 257.6 $ 131.7 $ 29.1 $ 38.4 $ 456.8 Realized and unrealized gains (losses) included in investment and other income (losses), net 0.5 8.6 (0.2 ) (0.7 ) 8.2 Purchases 38.8 — — 1.0 39.8 Sales (29.4 ) — — — (29.4 ) Settlements — — — (13.8 ) (13.8 ) Foreign exchange revaluation 0.1 0.3 0.2 — 0.6 Balance at June 30, 2019 $ 267.6 $ 140.6 $ 29.1 $ 24.9 $ 462.2 Change in unrealized gains (losses) included in net income relating to assets held at June 30, 2019 $ (13.3 ) $ 8.8 $ (0.2 ) $ — $ (4.7 ) (in millions) Equity Debt Real Estate Loans Total for the nine months ended June 30, 2019 Balance at October 1, 2018 $ 199.7 $ 118.0 $ — $ 32.3 $ 350.0 Acquisition 45.2 39.7 — — 84.9 Realized and unrealized gains (losses) included in investment and other income (losses), net 7.4 (2.4 ) 3.2 (2.2 ) 6.0 Purchases 74.2 9.4 25.6 9.2 118.4 Sales (29.8 ) (20.1 ) — (0.6 ) (50.5 ) Settlements (1.0 ) (0.1 ) — (13.8 ) (14.9 ) Transfers into Level 3 0.1 — — — 0.1 Transfers out of Level 3 (25.4 ) (3.6 ) — — (29.0 ) Foreign exchange revaluation (2.8 ) (0.3 ) 0.3 — (2.8 ) Balance at June 30, 2019 $ 267.6 $ 140.6 $ 29.1 $ 24.9 $ 462.2 Change in unrealized gains (losses) included in net income relating to assets held at June 30, 2019 $ (6.3 ) $ 4.9 $ 3.2 $ (0.8 ) $ 1.0 (in millions) Equity Debt Loans Total for the three months ended June 30, 2018 Balance at April 1, 2018 $ 188.4 $ 112.2 $ — $ 300.6 Realized and unrealized gains included in investment and other income (losses), net 5.4 0.3 — 5.7 Purchases 0.1 — 5.0 5.1 Sales (2.6 ) (0.1 ) — (2.7 ) Settlements — (0.5 ) — (0.5 ) Consolidation — — 7.0 7.0 Foreign exchange revaluation (3.8 ) (1.0 ) — (4.8 ) Balance at June 30, 2018 $ 187.5 $ 110.9 $ 12.0 $ 310.4 Change in unrealized gains included in net income relating to assets held at June 30, 2018 $ 0.9 $ 0.2 $ — $ 1.1 (in millions) Equity Debt Loans Total for the nine months ended June 30, 2018 Balance at October 1, 2017 $ 160.7 $ 135.4 $ — $ 296.1 Realized and unrealized gains included in investment and other income (losses), net 22.9 2.4 — 25.3 Purchases 22.7 10.5 5.0 38.2 Sales (17.5 ) (37.8 ) — (55.3 ) Settlements — (0.5 ) — (0.5 ) Consolidation — — 7.0 7.0 Foreign exchange revaluation (1.3 ) 0.9 — (0.4 ) Balance at June 30, 2018 $ 187.5 $ 110.9 $ 12.0 $ 310.4 Change in unrealized gains (losses) included in net income relating to assets held at June 30, 2018 $ 17.5 $ (2.1 ) $ — $ 15.4 There were no transfers into or out of Level 3 during the three months ended June 30, 2019 or the nine months ended June 30, 2018 . Valuation techniques and significant unobservable inputs used in Level 3 fair value measurements were as follows: (in millions) as of June 30, 2019 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Equity securities $ 128.5 Market comparable companies EBITDA multiple 4.7–13.6 (9.7) 117.1 Discounted cash flow Discount rate 6.0%–18.2% (12.7%) 22.0 Market pricing Private sale pricing $0.25–$3.38 ($1.50) per share Debt securities 111.9 Discounted cash flow Discount rate 5.5%–23.0% (10.4%) 28.7 Comparable trading multiple Price-to-earnings ratio 10.0 Enterprise value/ 12.3 Real estate 29.1 Yield capitalization Equivalent yield 5.0% Loans 24.9 Discounted cash flow Loss-adjusted discount rate 3.0%–23.9% (11.9%) __________________ 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 78.7 Discounted cash flow Discount rate 7.0%–14.8% (10.8%) 33.9 Comparable trading multiple Price-to-earnings ratio 10.0 Enterprise value/ 20.9 5.4 Market pricing Private sale pricing $42 per $100 of par Loans 32.3 Discounted cash flow Loss-adjusted discount rate 3.0%–22.7% (12.0%) If the relevant significant inputs used in the market-based valuations were independently higher (lower) as of June 30, 2019 , the resulting fair value of the assets would be higher (lower). If the relevant significant inputs used in the discounted cash flow or yield capitalization valuations were independently higher (lower) as of June 30, 2019 , the resulting fair value of the assets would be lower (higher). Financial instruments of CIPs that were not measured at fair value were as follows: (in millions) Fair Value Level June 30, 2019 September 30, 2018 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Asset Cash and cash equivalents 1 $ 248.8 $ 248.8 $ 299.8 $ 299.8 Financial Liability Debt 3 $ 31.8 $ 31.8 $ 32.6 $ 32.4 Debt Debt of CIPs totaled $31.8 million and $32.6 million at June 30, 2019 and September 30, 2018 . The debt had fixed and floating interest rates ranging from 3.07% to 8.13% with a weighted-average effective interest rate of 6.94% at June 30, 2019 , 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 nine months ended June 30, 2019 2018 Balance at beginning of period $ 1,043.6 $ 1,941.9 Net income (loss) 6.2 (18.3 ) Net subscriptions and other 578.4 137.8 Net deconsolidations (821.7 ) (29.8 ) Balance at End of Period $ 806.5 $ 2,031.6

Nonconsolidated Variable Intere

Nonconsolidated Variable Interest Entities	9 Months Ended
	Jun. 30, 2019
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) June 30, September 30, Investments $ 376.6 $ 161.8 Receivables 166.0 140.1 Total $ 542.6 $ 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 nine months ended June 30, 2019 . 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 nine months ended June 30, 2018 .

Taxes on Income

Taxes on Income	9 Months Ended
	Jun. 30, 2019
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 expense recognized in the prior fiscal year was net of an $87.6 million tax benefit related to U.S. taxation of deemed foreign dividends. This benefit was reversed during the quarter ended June 30, 2019

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings In 2016 and 2017, two former employees filed related class action lawsuits in the United States District Court for the Northern District of California (Cryer v. Franklin Resources, Inc., et al. and Fernandez v. Franklin Resources, Inc., et al.), which were later consolidated, relating to the Franklin Templeton 401(k) Retirement Plan (“Plan”). The consolidated action names as defendants Franklin, the Plan’s Investment Committee and individual current and former Investment Committee members, the Plan’s Administrative Committee, the Franklin Board of Directors, and individual current and former Franklin directors. The plaintiffs principally claim that the defendants breached their fiduciary duties under the Employee Retirement Income Security Act by, among other things, selecting certain mutual funds sponsored and managed by the Company (the “Funds”) as investment options for the Plan, when allegedly lower cost and better performing third-party investment options were available, and further challenge the Plan’s record keeping fees as excessive. The plaintiffs allege that Plan losses exceed $79.0 million and seek, among other relief, monetary damages, disgorgement, rescission of the Plan’s investments in the Funds, attorneys’ fees and costs, and pre- and post-judgment interest. While management strongly believes that the claims asserted in the consolidated action 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 has accrued. In addition, Franklin agreed, among other Plan changes, to increase its existing matching contribution rate from 75% to 85% for eligible participant salary deferrals for a period of three years. The agreement remains subject to final 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 June 30, 2019 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 June 30, 2019 , 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	9 Months Ended
	Jun. 30, 2019
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 nine months ended June 30, 2019 Nonvested balance at October 1, 2018 2,678 1,813 4,491 $ 39.08 Granted 3,884 897 4,781 30.75 Vested (287 ) (606 ) (893 ) 37.86 Forfeited/canceled (288 ) (204 ) (492 ) 36.90 Nonvested Balance at June 30, 2019 5,987 1,900 7,887 $ 34.31 Total unrecognized compensation expense related to nonvested stock and stock unit awards was $160.6 million at June 30, 2019 . This expense is expected to be recognized over a remaining weighted-average vesting period of 2.0 years .

Other Income (Expenses)

Other Income (Expenses)	9 Months Ended
	Jun. 30, 2019
Other Income and Expenses [Abstract]
Other Income (Expenses)	Other Income (Expenses) Other income (expenses) consisted of the following: Three Months Ended Nine Months Ended (in millions) 2019 2018 2019 2018 Investment and Other Income (Losses), Net Dividend income $ 24.2 $ 16.6 $ 74.0 $ 30.0 Interest income 7.2 15.4 24.7 64.9 Gains (losses) on investments, net 0.3 (1.8 ) (16.1 ) 4.3 Income (losses) from investments in equity method investees 5.5 (4.1 ) 15.1 41.8 Gains (losses) on investments of CIPs, net 1.7 (69.9 ) (15.5 ) (15.3 ) Rental income 4.7 4.2 14.6 11.9 Foreign currency exchange gains (losses), net 0.1 5.8 7.3 (4.9 ) Other, net 0.5 — (0.3 ) 2.2 Total 44.2 (33.8 ) 103.8 134.9 Interest Expense (5.6 ) (22.1 ) (17.7 ) (42.9 ) Other Income (Expenses), Net $ 38.6 $ (55.9 ) $ 86.1 $ 92.0 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 equity securities measured at fair value and trading debt securities, and other-than-temporary impairment of investments. Proceeds from the sale of available-for-sale securities were $6.8 million and $48.2 million for the three and nine months ended June 30, 2018 . There were no sales of available-for-sale securities in the current fiscal year. Net gains (losses) recognized on equity securities measured at fair value and trading debt securities that were held by the Company at June 30, 2019 were $7.9 million and $(1.9) million for the three and nine months ended June 30, 2019 , and net gains (losses) recognized on trading investment securities that were held by the Company at June 30, 2018 were $(1.1) million and $2.3 million for the three and nine months ended June 30, 2018 . Net gains (losses) recognized on investment securities of CIPs that were held at June 30, 2019 and 2018 were $13.2 million and $14.8 million for the three and nine months ended June 30, 2019 , and $(39.0) million and $(49.7) million for the three and nine months ended June 30, 2018 .

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Jun. 30, 2019
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 June 30, 2019 Balance at April 1, 2019 $ (379.6 ) $ (5.3 ) $ (1.6 ) $ (386.5 ) Other comprehensive income Other comprehensive income (loss) before reclassifications, net of tax 1.9 0.1 (4.9 ) (2.9 ) Reclassifications to net investment and other income (losses), net of tax — — 8.5 8.5 Total other comprehensive income 1.9 0.1 3.6 5.6 Balance at June 30, 2019 $ (377.7 ) $ (5.2 ) $ 2.0 $ (380.9 ) (in millions) Currency Unrealized Unrealized Total for the nine months ended June 30, 2019 Balance at October 1, 2018 $ (372.9 ) $ (4.2 ) $ 6.5 $ (370.6 ) Adoption of new accounting guidance — — (8.0 ) (8.0 ) Other comprehensive income (loss) Other comprehensive loss before reclassifications, net of tax (4.9 ) (1.0 ) (5.0 ) (10.9 ) Reclassifications to net investment and other income (losses), net of tax 0.1 — 8.5 8.6 Total other comprehensive income (loss) (4.8 ) (1.0 ) 3.5 (2.3 ) Balance at June 30, 2019 $ (377.7 ) $ (5.2 ) $ 2.0 $ (380.9 ) (in millions) Currency Unrealized Unrealized Total for the three months ended June 30, 2018 Balance at April 1, 2018 $ (258.4 ) $ (6.8 ) $ 5.5 $ (259.7 ) Other comprehensive income (loss), net of tax (86.7 ) 0.2 3.3 (83.2 ) Balance at June 30, 2018 $ (345.1 ) $ (6.6 ) $ 8.8 $ (342.9 ) (in millions) Currency Unrealized Unrealized Total for the nine months ended June 30, 2018 Balance at October 1, 2017 $ (281.0 ) $ (6.0 ) $ 2.2 $ (284.8 ) Adoption of new accounting guidance — (0.1 ) — (0.1 ) Other comprehensive income (loss) Other comprehensive income (loss) before reclassifications, net of tax (62.6 ) (0.5 ) 8.3 (54.8 ) Reclassifications to net investment and other income (losses), net of tax (1.5 ) — (1.7 ) (3.2 ) Total other comprehensive income (loss) (64.1 ) (0.5 ) 6.6 (58.0 ) Balance at June 30, 2018 $ (345.1 ) $ (6.6 ) $ 8.8 $ (342.9 ) There were no reclassifications from accumulated other comprehensive income (loss) for the three months ended June 30, 2018 .

Accounting Policies (Policies)

Accounting Policies (Policies)	9 Months Ended
	Jun. 30, 2019
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 investments that were classified as trading or 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. Effective October 1, 2018
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.
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, other equity and debt instruments, real estate and loans 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)	9 Months Ended
	Jun. 30, 2019
Accounting Changes and Error Corrections [Abstract]
Adoption impact in Consolidated Statement of Income	Individual line items in the consolidated statements of income were impacted as follows: Three Months Ended June 30, 2019 Nine Months Ended June 30, 2019 As Reported Adoption Impact Amount Without Adoption As Reported Adoption Impact Amount Without Adoption (in millions) Operating Revenues Investment management fees $ 1,019.4 $ 14.7 $ 1,034.1 $ 2,983.6 $ 45.1 $ 3,028.7 Sales and distribution fees 367.5 (14.7 ) 352.8 1,080.8 (45.1 ) 1,035.7 Shareholder servicing fees 52.7 (2.0 ) 50.7 164.9 (5.7 ) 159.2 Operating Expenses General, administrative and other $ 103.8 $ (2.0 ) $ 101.8 $ 314.0 $ (5.7 ) $ 308.3

Acquisition (Tables)

Acquisition (Tables)	9 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Schedule of revised allocation of estimated fair values	The revised allocation of estimated fair values of the assets acquired and liabilities and noncontrolling interests assumed is as follows: (in millions) Revised Estimated Fair Value as of February 1, 2019 Cash $ 33.2 Investments 138.8 Investments of consolidated investment products 84.9 Indefinite-lived intangible assets 307.5 Definite-lived intangible assets 75.8 Goodwill 318.3 Other assets 35.2 Other liabilities (57.5 ) Nonredeemable noncontrolling interests (216.1 ) Total Identifiable Net Assets $ 720.1
Schedule of estimated remaining amortization expense	estimated remaining amortization expense as follows: (in millions) for the fiscal years ending September 30, Amount 2019 (remainder of year) $ 4.3 2020 17.2 2021 17.2 2022 17.2 2023 8.0 Thereafter 4.7 Total $ 68.6

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Components of basic and diluted earnings per share	The components of basic and diluted earnings per share were as follows: (in millions, except per share data) Three Months Ended Nine Months Ended 2019 2018 2019 2018 Net income attributable to Franklin Resources, Inc. $ 245.9 $ 402.0 $ 889.3 $ 261.9 Less: allocation of earnings to participating nonvested stock and stock unit awards 2.6 3.3 8.8 17.1 Net Income Available to Common Stockholders $ 243.3 $ 398.7 $ 880.5 $ 244.8 Weighted-average shares outstanding – basic 501.6 533.0 505.6 542.9 Dilutive effect of nonparticipating nonvested stock unit awards 0.7 0.5 0.5 0.7 Weighted-Average Shares Outstanding – Diluted 502.3 533.5 506.1 543.6 Earnings per Share Basic $ 0.48 $ 0.75 $ 1.74 $ 0.45 Diluted 0.48 0.75 1.74 0.45

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Jun. 30, 2019
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 $ 585.7 $ 269.6 $ 79.3 $ 62.3 $ 22.5 $ — $ 1,019.4 Sales and distribution fees 240.4 111.1 15.5 0.2 0.3 — 367.5 Shareholder servicing fees 42.3 7.7 — 2.7 — — 52.7 Other 6.1 0.3 — 0.1 2.3 28.3 37.1 Total $ 874.5 $ 388.7 $ 94.8 $ 65.3 $ 25.1 $ 28.3 $ 1,476.7 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 nine months ended Investment management fees $ 1,684.4 $ 800.7 $ 247.8 $ 180.6 $ 70.1 $ — $ 2,983.6 Sales and distribution fees 702.0 328.9 47.9 0.9 1.1 — 1,080.8 Shareholder servicing fees 134.3 22.8 0.1 7.7 — — 164.9 Other 13.3 0.9 — 0.4 2.7 75.4 92.7 Total $ 2,534.0 $ 1,153.3 $ 295.8 $ 189.6 $ 73.9 $ 75.4 $ 4,322.0 __________________ 1 Consists of interest and dividend income from consolidated investment products.

Investments (Tables)

Investments (Tables)	9 Months Ended
	Jun. 30, 2019
Investments [Abstract]
Summary of investments	Investments consisted of the following: (in millions) June 30, Equity securities, at fair value Sponsored funds $ 381.8 Other equity securities 148.3 Total equity securities, at fair value 530.1 Debt securities Trading 72.8 Available-for-sale 4.7 Total debt securities 77.5 Investments in equity method investees 971.9 Other investments 42.5 Total $ 1,622.0 (in millions) September 30, 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 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 June 30, 2019 Debt securities $ 4.7 $ — $ — $ 4.7 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	There were no gross unrealized losses relating to investment securities, available-for-sale at June 30, 2019 . Such losses at September 30, 2018 aggregated by length of time that individual securities were 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 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)	9 Months Ended
	Jun. 30, 2019
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 June 30, 2019 Assets Equity securities, at fair value Sponsored funds $ 310.9 $ — $ — $ 70.9 $ 381.8 Other equity securities 23.6 0.7 1.0 123.0 148.3 Debt securities Trading 0.1 53.4 19.3 — 72.8 Available-for-sale — 4.4 0.3 — 4.7 Life settlement contracts — — 11.8 — 11.8 Total Assets Measured at Fair Value $ 334.6 $ 58.5 $ 32.4 $ 193.9 $ 619.4 (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 liability	Changes in the Level 3 assets and liability were as follows: 2019 2018 (in millions) Investments Investments Contingent for the three months ended June 30, Balance at beginning of period $ 33.9 $ 208.1 $ (31.2 ) Total realized and unrealized gains (losses) Included in investment and other income (losses), net 2.7 1.0 — Included in general, administrative and other expense — — (4.4 ) Purchases 3.7 5.4 — Sales (0.4 ) (0.4 ) — Settlements (2.5 ) (1.1 ) — Transfers out of Level 3 (5.0 ) — — Foreign exchange revaluation — (8.8 ) — Balance at End of Period $ 32.4 $ 204.2 $ (35.6 ) Change in unrealized gains (losses) included in net income relating to assets and liability held at end of period $ 0.4 $ 0.4 $ (4.4 ) 2019 2018 (in millions) Investments Contingent Investments Contingent for the nine months ended June 30, 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 6.3 — 4.0 — Included in general, administrative and other expense — (2.0 ) — (10.0 ) Purchases 8.7 — 12.1 — Sales (4.7 ) — (0.4 ) — Settlements (3.4 ) 40.7 (3.0 ) 32.4 Transfers out of Level 3 (7.1 ) — — — Foreign exchange revaluation and other — — (8.4 ) (7.0 ) Balance at End of Period $ 32.4 $ — $ 204.2 $ (35.6 ) Change in unrealized gains (losses) included in net income relating to assets and liability held at end of period $ 3.4 $ — $ 2.4 $ (10.0 )
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 June 30, 2019 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Debt securities, trading $ 19.3 Discounted cash flow Discount rate 3.2%–11.8% (6.3%) Risk premium 2.0%–6.8% (4.2%) Life settlement contracts 11.8 Discounted cash flow Life expectancy 20–109 months (58) Discount rate 8.0%–20.0% (13.4%) __________________ 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 June 30, 2019 September 30, 2018 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Assets Cash and cash equivalents 1 $ 5,508.8 $ 5,508.8 $ 6,610.8 $ 6,610.8 Other investments Time deposits 2 15.9 15.9 12.3 12.3 Equity securities 3 14.8 21.7 81.8 103.6 Financial Liability Debt 2 $ 697.0 $ 714.3 $ 695.9 $ 671.1

Consolidated Investment Produ_2

Consolidated Investment Products (Tables)	9 Months Ended
	Jun. 30, 2019
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) June 30, September 30, Assets Cash and cash equivalents $ 248.8 $ 299.8 Receivables 92.4 114.2 Investments, at fair value 2,351.1 2,109.4 Other assets — 1.0 Total Assets $ 2,692.3 $ 2,524.4 Liabilities Accounts payable and accrued expenses $ 52.6 $ 68.0 Debt 31.8 32.6 Other liabilities 0.1 9.3 Total liabilities 84.5 109.9 Redeemable Noncontrolling Interests 806.5 1,043.6 Stockholders ’ Equity Franklin Resources, Inc.’s interests 1,332.0 1,092.6 Nonredeemable noncontrolling interests 469.3 278.3 Total stockholders’ equity 1,801.3 1,370.9 Total Liabilities, Redeemable Noncontrolling Interests and Stockholders ’ Equity $ 2,692.3 $ 2,524.4
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 Total as of June 30, 2019 Assets Investments Debt securities $ 0.9 $ 1,288.1 $ 140.6 $ — $ 1,429.6 Equity securities 173.1 229.7 267.6 197.1 867.5 Real estate — — 29.1 — 29.1 Loans — — 24.9 — 24.9 Total Assets Measured at Fair Value $ 174.0 $ 1,517.8 $ 462.2 $ 197.1 $ 2,351.1 Liabilities Other liabilities $ — $ 0.1 $ — $ — $ 0.1 (in millions) Level 1 Level 2 Level 3 NAV as a Total as of September 30, 2018 Assets Investments Debt securities $ 0.6 $ 1,219.5 $ 118.0 $ — $ 1,338.1 Equity securities 270.7 154.8 199.7 113.8 739.0 Loans — — 32.3 — 32.3 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: (in millions) Equity Debt Real Estate Loans Total for the three months ended June 30, 2019 Balance at April 1, 2019 $ 257.6 $ 131.7 $ 29.1 $ 38.4 $ 456.8 Realized and unrealized gains (losses) included in investment and other income (losses), net 0.5 8.6 (0.2 ) (0.7 ) 8.2 Purchases 38.8 — — 1.0 39.8 Sales (29.4 ) — — — (29.4 ) Settlements — — — (13.8 ) (13.8 ) Foreign exchange revaluation 0.1 0.3 0.2 — 0.6 Balance at June 30, 2019 $ 267.6 $ 140.6 $ 29.1 $ 24.9 $ 462.2 Change in unrealized gains (losses) included in net income relating to assets held at June 30, 2019 $ (13.3 ) $ 8.8 $ (0.2 ) $ — $ (4.7 ) (in millions) Equity Debt Real Estate Loans Total for the nine months ended June 30, 2019 Balance at October 1, 2018 $ 199.7 $ 118.0 $ — $ 32.3 $ 350.0 Acquisition 45.2 39.7 — — 84.9 Realized and unrealized gains (losses) included in investment and other income (losses), net 7.4 (2.4 ) 3.2 (2.2 ) 6.0 Purchases 74.2 9.4 25.6 9.2 118.4 Sales (29.8 ) (20.1 ) — (0.6 ) (50.5 ) Settlements (1.0 ) (0.1 ) — (13.8 ) (14.9 ) Transfers into Level 3 0.1 — — — 0.1 Transfers out of Level 3 (25.4 ) (3.6 ) — — (29.0 ) Foreign exchange revaluation (2.8 ) (0.3 ) 0.3 — (2.8 ) Balance at June 30, 2019 $ 267.6 $ 140.6 $ 29.1 $ 24.9 $ 462.2 Change in unrealized gains (losses) included in net income relating to assets held at June 30, 2019 $ (6.3 ) $ 4.9 $ 3.2 $ (0.8 ) $ 1.0 (in millions) Equity Debt Loans Total for the three months ended June 30, 2018 Balance at April 1, 2018 $ 188.4 $ 112.2 $ — $ 300.6 Realized and unrealized gains included in investment and other income (losses), net 5.4 0.3 — 5.7 Purchases 0.1 — 5.0 5.1 Sales (2.6 ) (0.1 ) — (2.7 ) Settlements — (0.5 ) — (0.5 ) Consolidation — — 7.0 7.0 Foreign exchange revaluation (3.8 ) (1.0 ) — (4.8 ) Balance at June 30, 2018 $ 187.5 $ 110.9 $ 12.0 $ 310.4 Change in unrealized gains included in net income relating to assets held at June 30, 2018 $ 0.9 $ 0.2 $ — $ 1.1 (in millions) Equity Debt Loans Total for the nine months ended June 30, 2018 Balance at October 1, 2017 $ 160.7 $ 135.4 $ — $ 296.1 Realized and unrealized gains included in investment and other income (losses), net 22.9 2.4 — 25.3 Purchases 22.7 10.5 5.0 38.2 Sales (17.5 ) (37.8 ) — (55.3 ) Settlements — (0.5 ) — (0.5 ) Consolidation — — 7.0 7.0 Foreign exchange revaluation (1.3 ) 0.9 — (0.4 ) Balance at June 30, 2018 $ 187.5 $ 110.9 $ 12.0 $ 310.4 Change in unrealized gains (losses) included in net income relating to assets held at June 30, 2018 $ 17.5 $ (2.1 ) $ — $ 15.4
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 June 30, 2019 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Equity securities $ 128.5 Market comparable companies EBITDA multiple 4.7–13.6 (9.7) 117.1 Discounted cash flow Discount rate 6.0%–18.2% (12.7%) 22.0 Market pricing Private sale pricing $0.25–$3.38 ($1.50) per share Debt securities 111.9 Discounted cash flow Discount rate 5.5%–23.0% (10.4%) 28.7 Comparable trading multiple Price-to-earnings ratio 10.0 Enterprise value/ 12.3 Real estate 29.1 Yield capitalization Equivalent yield 5.0% Loans 24.9 Discounted cash flow Loss-adjusted discount rate 3.0%–23.9% (11.9%) __________________ 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 78.7 Discounted cash flow Discount rate 7.0%–14.8% (10.8%) 33.9 Comparable trading multiple Price-to-earnings ratio 10.0 Enterprise value/ 20.9 5.4 Market pricing Private sale pricing $42 per $100 of par Loans 32.3 Discounted cash flow Loss-adjusted discount rate 3.0%–22.7% (12.0%)
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 June 30, 2019 September 30, 2018 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Asset Cash and cash equivalents 1 $ 248.8 $ 248.8 $ 299.8 $ 299.8 Financial Liability Debt 3 $ 31.8 $ 31.8 $ 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 nine months ended June 30, 2019 2018 Balance at beginning of period $ 1,043.6 $ 1,941.9 Net income (loss) 6.2 (18.3 ) Net subscriptions and other 578.4 137.8 Net deconsolidations (821.7 ) (29.8 ) Balance at End of Period $ 806.5 $ 2,031.6

Nonconsolidated Variable Inte_2

Nonconsolidated Variable Interest Entities (Tables)	9 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of maximum exposure to 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) June 30, September 30, Investments $ 376.6 $ 161.8 Receivables 166.0 140.1 Total $ 542.6 $ 301.9

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Jun. 30, 2019
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 nine months ended June 30, 2019 Nonvested balance at October 1, 2018 2,678 1,813 4,491 $ 39.08 Granted 3,884 897 4,781 30.75 Vested (287 ) (606 ) (893 ) 37.86 Forfeited/canceled (288 ) (204 ) (492 ) 36.90 Nonvested Balance at June 30, 2019 5,987 1,900 7,887 $ 34.31

Other Income (Expenses) (Tables

Other Income (Expenses) (Tables)	9 Months Ended
	Jun. 30, 2019
Other Income and Expenses [Abstract]
Schedule of other income (expenses)	Other income (expenses) consisted of the following: Three Months Ended Nine Months Ended (in millions) 2019 2018 2019 2018 Investment and Other Income (Losses), Net Dividend income $ 24.2 $ 16.6 $ 74.0 $ 30.0 Interest income 7.2 15.4 24.7 64.9 Gains (losses) on investments, net 0.3 (1.8 ) (16.1 ) 4.3 Income (losses) from investments in equity method investees 5.5 (4.1 ) 15.1 41.8 Gains (losses) on investments of CIPs, net 1.7 (69.9 ) (15.5 ) (15.3 ) Rental income 4.7 4.2 14.6 11.9 Foreign currency exchange gains (losses), net 0.1 5.8 7.3 (4.9 ) Other, net 0.5 — (0.3 ) 2.2 Total 44.2 (33.8 ) 103.8 134.9 Interest Expense (5.6 ) (22.1 ) (17.7 ) (42.9 ) Other Income (Expenses), Net $ 38.6 $ (55.9 ) $ 86.1 $ 92.0

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Jun. 30, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of 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 June 30, 2019 Balance at April 1, 2019 $ (379.6 ) $ (5.3 ) $ (1.6 ) $ (386.5 ) Other comprehensive income Other comprehensive income (loss) before reclassifications, net of tax 1.9 0.1 (4.9 ) (2.9 ) Reclassifications to net investment and other income (losses), net of tax — — 8.5 8.5 Total other comprehensive income 1.9 0.1 3.6 5.6 Balance at June 30, 2019 $ (377.7 ) $ (5.2 ) $ 2.0 $ (380.9 ) (in millions) Currency Unrealized Unrealized Total for the nine months ended June 30, 2019 Balance at October 1, 2018 $ (372.9 ) $ (4.2 ) $ 6.5 $ (370.6 ) Adoption of new accounting guidance — — (8.0 ) (8.0 ) Other comprehensive income (loss) Other comprehensive loss before reclassifications, net of tax (4.9 ) (1.0 ) (5.0 ) (10.9 ) Reclassifications to net investment and other income (losses), net of tax 0.1 — 8.5 8.6 Total other comprehensive income (loss) (4.8 ) (1.0 ) 3.5 (2.3 ) Balance at June 30, 2019 $ (377.7 ) $ (5.2 ) $ 2.0 $ (380.9 ) (in millions) Currency Unrealized Unrealized Total for the three months ended June 30, 2018 Balance at April 1, 2018 $ (258.4 ) $ (6.8 ) $ 5.5 $ (259.7 ) Other comprehensive income (loss), net of tax (86.7 ) 0.2 3.3 (83.2 ) Balance at June 30, 2018 $ (345.1 ) $ (6.6 ) $ 8.8 $ (342.9 ) (in millions) Currency Unrealized Unrealized Total for the nine months ended June 30, 2018 Balance at October 1, 2017 $ (281.0 ) $ (6.0 ) $ 2.2 $ (284.8 ) Adoption of new accounting guidance — (0.1 ) — (0.1 ) Other comprehensive income (loss) Other comprehensive income (loss) before reclassifications, net of tax (62.6 ) (0.5 ) 8.3 (54.8 ) Reclassifications to net investment and other income (losses), net of tax (1.5 ) — (1.7 ) (3.2 ) Total other comprehensive income (loss) (64.1 ) (0.5 ) 6.6 (58.0 ) Balance at June 30, 2018 $ (345.1 ) $ (6.6 ) $ 8.8 $ (342.9 )

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 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance	(6.9)
Retained Earnings [Member] | ASU 2016-01 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance	29.8
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		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
General, administrative and other	$ 103.8	$ 105.2	$ 314	$ 286.9
Adoption Impact [Member] | ASU 2014-09 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
General, administrative and other	(2)		(5.7)
Amount Without Adoption [Member] | ASU 2014-09 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
General, administrative and other	101.8		308.3
Investment management fees [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Earned From Contracts With Customers	1,019.4	1,077.9	2,983.6	3,308.6
Investment management fees [Member] | Adoption Impact [Member] | ASU 2014-09 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Earned From Contracts With Customers	14.7		45.1
Investment management fees [Member] | Amount Without Adoption [Member] | ASU 2014-09 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Earned From Contracts With Customers	1,034.1		3,028.7
Sales and distribution fees [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Earned From Contracts With Customers	367.5	391.4	1,080.8	1,219
Sales and distribution fees [Member] | Adoption Impact [Member] | ASU 2014-09 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Earned From Contracts With Customers	(14.7)		(45.1)
Sales and distribution fees [Member] | Amount Without Adoption [Member] | ASU 2014-09 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Earned From Contracts With Customers	352.8		1,035.7
Shareholder servicing fees [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Earned From Contracts With Customers	52.7	$ 53.9	164.9	$ 170.1
Shareholder servicing fees [Member] | Adoption Impact [Member] | ASU 2014-09 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Earned From Contracts With Customers	(2)		(5.7)
Shareholder servicing fees [Member] | Amount Without Adoption [Member] | ASU 2014-09 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Earned From Contracts With Customers	$ 50.7		$ 159.2

Acquisition - Narrative (Detail

Acquisition - Narrative (Details) - USD ($) $ in Millions	Feb. 01, 2019	Jun. 30, 2019	Jun. 30, 2019
Business Combinations [Abstract]
Purchase consideration in cash	$ 720.1
Debt retired	135
Purchase consideration adjustment		$ 2.7
Tax deductible amount of goodwill	$ 425.8
Business Acquisition [Line Items]
Amortization expense		$ 4.1	$ 7.2
Weighted-average remaining useful life			4 years 1 month 6 days
Acquisition costs			$ 6.8
Minimum [Member]
Business Acquisition [Line Items]
Intangible assets, estimated useful lives			4 years
Maximum [Member]
Business Acquisition [Line Items]
Intangible assets, estimated useful lives			6 years

Acquisition - Revised Allocatio

Acquisition - Revised Allocation of Estimated Fair Values of the Assets Acquired and Liabilities and Noncontrolling Interests Assumed (Details) $ in Millions	Feb. 01, 2019USD ($)
Business Combinations [Abstract]
Cash	$ 33.2
Investments	138.8
Investments of consolidated investment products	84.9
Indefinite-lived intangible assets	307.5
Definite-lived intangible assets	75.8
Goodwill	318.3
Other assets	35.2
Other liabilities	(57.5)
Nonredeemable noncontrolling interests	(216.1)
Total Identifiable Net Assets	$ 720.1

Acquisition - Schedule of Estim

Acquisition - Schedule of Estimated Remaining Amortization Expense (Details) $ in Millions	Jun. 30, 2019USD ($)
Business Combinations [Abstract]
2019 (remainder of year)	$ 4.3
2020	17.2
2021	17.2
2022	17.2
2023	8
Thereafter	4.7
Total	$ 68.6

Earnings per Share - Narrative

Earnings per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share [Abstract]
Shares of nonparticipating nonvested stock unit awards excluded from the calculation of diluted EPS	0.2	0.8	0.2	0.3

Earnings per Share - Components

Earnings per Share - Components of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share Reconciliation [Abstract]
Net income attributable to Franklin Resources, Inc.	$ 245.9	$ 402	$ 889.3	$ 261.9
Less: allocation of earnings to participating nonvested stock and stock unit awards - basic	2.6	3.3	8.8	17.1
Less: allocation of earnings to participating nonvested stock and stock unit awards - diluted	2.6	3.3	8.8	17.1
Net Income Available to Common Stockholders - basic	243.3	398.7	880.5	244.8
Net Income Available to Common Stockholders - diluted	$ 243.3	$ 398.7	$ 880.5	$ 244.8
Weighted-average shares outstanding – basic	501.6	533	505.6	542.9
Dilutive effect of nonparticipating nonvested stock unit awards	0.7	0.5	0.5	0.7
Weighted-Average Shares Outstanding – Diluted	502.3	533.5	506.1	543.6
Earnings per Share [Abstract]
Basic	$ 0.48	$ 0.75	$ 1.74	$ 0.45
Diluted	$ 0.48	$ 0.75	$ 1.74	$ 0.45

Revenues - Schedule of Operatin

Revenues - Schedule of Operating Revenues by Geographic Area (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Not Earned From Contracts With Customers	[1]	$ 28.3		$ 75.4
Other		37.1	$ 35.4	92.7	$ 94.2
Total		1,476.7	1,558.6	4,322	4,791.9
Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		1,019.4	1,077.9	2,983.6	3,308.6
Not Earned From Contracts With Customers	[1]	0		0
Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		367.5	391.4	1,080.8	1,219
Not Earned From Contracts With Customers	[1]	0		0
Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		52.7	$ 53.9	164.9	$ 170.1
Not Earned From Contracts With Customers	[1]	0		0
Other [Member]
Disaggregation of Revenue [Line Items]
Not Earned From Contracts With Customers	[1]	28.3		75.4
United States [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		874.5		2,534
United States [Member] | Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		585.7		1,684.4
United States [Member] | Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		240.4		702
United States [Member] | Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		42.3		134.3
United States [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		6.1		13.3
Luxembourg [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		388.7		1,153.3
Luxembourg [Member] | Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		269.6		800.7
Luxembourg [Member] | Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		111.1		328.9
Luxembourg [Member] | Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		7.7		22.8
Luxembourg [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		0.3		0.9
Americas Excluding United States [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		94.8		295.8
Americas Excluding United States [Member] | Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		79.3		247.8
Americas Excluding United States [Member] | Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		15.5		47.9
Americas Excluding United States [Member] | Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		0		0.1
Americas Excluding United States [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		0		0
Asia-Pacific [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		65.3		189.6
Asia-Pacific [Member] | Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		62.3		180.6
Asia-Pacific [Member] | Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		0.2		0.9
Asia-Pacific [Member] | Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		2.7		7.7
Asia-Pacific [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		0.1		0.4
Europe, Middle East and Africa, Excluding Luxembourg [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		25.1		73.9
Europe, Middle East and Africa, Excluding Luxembourg [Member] | Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		22.5		70.1
Europe, Middle East and Africa, Excluding Luxembourg [Member] | Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		0.3		1.1
Europe, Middle East and Africa, Excluding Luxembourg [Member] | Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		0		0
Europe, Middle East and Africa, Excluding Luxembourg [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		$ 2.3		$ 2.7
[1]	Consists of interest and dividend income from consolidated investment products.

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Investments [Abstract]
Aggregate carrying amounts of investment securities pledged as collateral	$ 1.2		$ 1.2
Other-than-temporary impairment	$ (8.5)	$ (0.3)	$ (8.5)	$ (0.9)

Investments - Summary of Invest

Investments - Summary of Investments (Details) - USD ($) $ in Millions	Jun. 30, 2019	Sep. 30, 2018
Investment Holdings [Line Items]
Equity securities, at fair value	$ 530.1
Investment securities, trading		$ 345.7
Debt securities, trading	72.8
Debt securities, available-for-sale	4.7
Total debt securities	77.5
Available-for-sale securities		194.1
Investments in equity method investees	971.9	780.8
Other investments	42.5	105.9
Total	1,622	1,426.5
Sponsored funds [Member]
Investment Holdings [Line Items]
Equity securities, at fair value	381.8
Investment securities, trading		248.1
Available-for-sale securities		178.6
Other equity securities [Member]
Investment Holdings [Line Items]
Equity securities, at fair value	$ 148.3
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	Jun. 30, 2019	Sep. 30, 2018
Investment Holdings [Line Items]
Cost Basis	$ 4.7
Gross Unrealized Gains	0
Gross Unrealized Losses	0
Fair Value	$ 4.7
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	Jun. 30, 2019	Sep. 30, 2018
Debt Securities, Available-for-sale [Line Items]
Continuous unrealized loss position, Less Than 12 Months, Fair Value	$ 0
Continuous unrealized loss position, Less Than 12 Months, Fair Value		$ 59.7
Continuous unrealized loss position, Less Than 12 Months, Gross Unrealized Losses	0
Continuous unrealized loss position, Less Than 12 Months, Gross Unrealized Losses		(3.9)
Continuous unrealized loss position, 12 Months or Greater, Fair Value	0
Continuous unrealized loss position, 12 Months or Greater, Fair Value		21
Continuous unrealized loss position, 12 Months or Greater, Gross Unrealized Losses	0
Continuous unrealized loss position, 12 Months or Greater, Gross Unrealized Losses		(0.5)
Continuous unrealized loss position, Total, Fair Value	0
Continuous unrealized loss position, Total, Fair Value		80.7
Continuous unrealized loss position, Total, Gross Unrealized Losses	$ 0
Continuous unrealized loss position, Total, Gross Unrealized Losses		(4.4)
Sponsored funds [Member]
Debt Securities, Available-for-sale [Line Items]
Continuous unrealized loss position, Less Than 12 Months, Fair Value		48.8
Continuous unrealized loss position, Less Than 12 Months, Gross Unrealized Losses		(2.1)
Continuous unrealized loss position, 12 Months or Greater, Fair Value		21
Continuous unrealized loss position, 12 Months or Greater, Gross Unrealized Losses		(0.5)
Continuous unrealized loss position, Total, Fair Value		69.8
Continuous unrealized loss position, Total, Gross Unrealized Losses		(2.6)
Debt and other equity securities [Member]
Debt Securities, Available-for-sale [Line Items]
Continuous unrealized loss position, Less Than 12 Months, Fair Value		10.9
Continuous unrealized loss position, Less Than 12 Months, Gross Unrealized Losses		(1.8)
Continuous unrealized loss position, 12 Months or Greater, Fair Value		0
Continuous unrealized loss position, 12 Months or Greater, Gross Unrealized Losses		0
Continuous unrealized loss position, Total, Fair Value		10.9
Continuous unrealized loss position, Total, Gross Unrealized Losses		$ (1.8)

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Unfunded commitments	$ 4.9
Transfers into Level 3 - assets	0	$ 0
Transfers into Level 3 - liabilities	0	$ 0
Redeemable Global Equity Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Alternative Investment	92.3
Nonredeemable Private Debt, Equity, Infrastructure and Real Estate Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Alternative Investment	$ 52
Liquidation weighted-average period	1 year 7 months 6 days
Private Debt Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Alternative Investment	$ 48.5
Real Estate Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Alternative Investment	$ 1.1

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liability Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Jun. 30, 2019	Sep. 30, 2018
Assets [Abstract]
Equity securities, at fair value	$ 530.1
Debt securities, trading	72.8
Debt securities, available-for-sale	4.7
Investment securities, trading		$ 345.7
Available-for-sale securities		194.1
Sponsored funds [Member]
Assets [Abstract]
Equity securities, at fair value	381.8
Investment securities, trading		248.1
Available-for-sale securities		178.6
Other equity securities [Member]
Assets [Abstract]
Equity securities, at fair value	148.3
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	72.8
Debt securities, available-for-sale	4.7
Life settlement contracts	11.8	11.8
Total Assets Measured at Fair Value	619.4	551.6
Liability [Abstract]
Contingent consideration liability		38.7
Fair Value, Measurements, Recurring [Member] | Sponsored funds [Member]
Assets [Abstract]
Equity securities, at fair value	381.8
Investment securities, trading		248.1
Available-for-sale securities		178.6
Fair Value, Measurements, Recurring [Member] | Other equity securities [Member]
Assets [Abstract]
Equity securities, at fair value	148.3
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	0.1
Debt securities, available-for-sale	0
Life settlement contracts	0	0
Total Assets Measured at Fair Value	334.6	457.7
Liability [Abstract]
Contingent consideration liability		0
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Sponsored funds [Member]
Assets [Abstract]
Equity securities, at fair value	310.9
Investment securities, trading		248.1
Available-for-sale securities		178.6
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Other equity securities [Member]
Assets [Abstract]
Equity securities, at fair value	23.6
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	53.4
Debt securities, available-for-sale	4.4
Life settlement contracts	0	0
Total Assets Measured at Fair Value	58.5	61.3
Liability [Abstract]
Contingent consideration liability		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] | Other equity securities [Member]
Assets [Abstract]
Equity securities, at fair value	0.7
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, available-for-sale	0.3
Total Assets Measured at Fair Value	32.4	32.6
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] | Other equity securities [Member]
Assets [Abstract]
Equity securities, at fair value	1
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Debt and other equity securities [Member]
Assets [Abstract]
Available-for-sale securities		$ 0.3
Fair Value, Measurements, Recurring [Member] | NAV as a Practical Expedient [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	193.9
Fair Value, Measurements, Recurring [Member] | NAV as a Practical Expedient [Member] | Sponsored funds [Member]
Assets [Abstract]
Equity securities, at fair value	70.9
Fair Value, Measurements, Recurring [Member] | NAV as a Practical Expedient [Member] | Other equity securities [Member]
Assets [Abstract]
Equity securities, at fair value	$ 123

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Changes in Level 3 Assets and Liability (Details) - Level 3 [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period - assets	$ 33.9	$ 208.1	$ 32.6	$ 199.9
Purchases - assets	3.7	5.4	8.7	12.1
Sales - assets	(0.4)	(0.4)	(4.7)	(0.4)
Settlements - assets	(2.5)	(1.1)	(3.4)	(3)
Transfers out of Level 3 - assets	(5)	0	(7.1)	0
Foreign exchange revaluation	0	(8.8)
Foreign exchange revaluation and other			0	(8.4)
Balance at End of Period - assets	32.4	204.2	32.4	204.2
Change in unrealized gains (losses) included in net income relating to assets and liability held at end of period - assets	0.4	0.4	3.4	2.4
Contingent Consideration Liability [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period - liability		(31.2)	(38.7)	(51)
Purchases - liability		0	0	0
Sales - liability		0	0	0
Settlements - liability		0	(40.7)	(32.4)
Transfers out of Level 3 - liability		0	0	0
Foreign exchange revaluation		0
Foreign exchange revaluation and other			0	(7)
Balance at End of Period - liability	0	(35.6)	0	(35.6)
Change in unrealized gains (losses) included in net income relating to assets and liability held at end of period - liability		(4.4)	0	(10)
Investment and other income (losses) [Member] | Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total realized and unrealized gains (losses) - assets	2.7	1	6.3	4
Investment and other income (losses) [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	0
General, administrative and other expense [Member] | Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total realized and unrealized gains (losses) - assets	$ 0	0	0	0
General, administrative and other expense [Member] | Contingent Consideration Liability [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total realized and unrealized gains (losses) - liability		$ (4.4)	$ (2)	$ (10)

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Valuation Techniques and Significant Unobservable Inputs used in Level 3 Fair Value Measurements (Details) $ in Millions		9 Months Ended		12 Months Ended
		Jun. 30, 2019USD ($)		Sep. 30, 2018USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, trading		$ 72.8
Investment securities, trading				$ 345.7
Fair Value, Measurements, Recurring [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, trading		72.8
Life settlement contracts		11.8		11.8
Contingent consideration liability				38.7
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Discounted cash flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, trading		19.3
Investment securities, trading				20.5
Life settlement contracts		$ 11.8		11.8
Contingent consideration liability				$ 38.7
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Discounted cash flow [Member] | Discount rate [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Trading, Measurement Input		0.032
Investment securities, trading - debt and other equity securities				0.041
Life settlement contracts		0.080		0.080
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Discounted cash flow [Member] | Discount rate [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Trading, Measurement Input		0.118
Investment securities, trading - debt and other equity securities				0.123
Life settlement contracts		0.200		0.200
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Discounted cash flow [Member] | Discount rate [Member] | Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Trading, Measurement Input	[1]	0.063
Investment securities, trading - debt and other equity securities				0.058
Life settlement contracts		0.134	[1]	0.131
Contingent consideration liability				0.130
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Discounted cash flow [Member] | Risk premium [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Trading, Measurement Input		0.020
Investment securities, trading - debt and other equity securities				0.020
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Discounted cash flow [Member] | Risk premium [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Trading, Measurement Input		0.068
Investment securities, trading - debt and other equity securities				0.067
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Discounted cash flow [Member] | Risk premium [Member] | Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Trading, Measurement Input	[1]	0.042
Investment securities, trading - debt and other equity securities				0.036
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Discounted cash flow [Member] | Life expectancy [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Life Settlement Contracts Measurement Input Term		20 months		20 months
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Discounted cash flow [Member] | Life expectancy [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Life Settlement Contracts Measurement Input Term		109 months		115 months
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Discounted cash flow [Member] | Life expectancy [Member] | Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Life Settlement Contracts Measurement Input Term		58 months	[1]	61 months
[1]	Based on the relative fair value of the instruments.

Fair Value Measurements - Sch_4

Fair Value Measurements - Schedule of Financial Instruments not Measured at Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2019	Sep. 30, 2018	Jun. 30, 2018	Sep. 30, 2017
Financial Assets [Abstract]
Cash and cash equivalents	$ 5,757.6	$ 6,910.6	$ 6,654.2	$ 8,749.7
Other investments	42.5	105.9
Carrying Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	5,508.8	6,610.8
Time deposits	15.9	12.3
Financial Liability [Abstract]
Debt	697	695.9
Estimated Fair Value [Member] | Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	5,508.8	6,610.8
Estimated Fair Value [Member] | Level 2 [Member]
Financial Assets [Abstract]
Time deposits	15.9	12.3
Financial Liability [Abstract]
Debt	714.3	671.1
Equity securities [Member] | Carrying Value [Member]
Financial Assets [Abstract]
Other investments	14.8	81.8
Equity securities [Member] | Estimated Fair Value [Member] | Level 3 [Member]
Financial Assets [Abstract]
Other investments	$ 21.7	$ 103.6

Consolidated Investment Produ_3

Consolidated Investment Products - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2019USD ($)CIPs	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)CIPs	Jun. 30, 2018USD ($)	Sep. 30, 2018USD ($)CIPs
Consolidated Investment Products [Abstract]
Number of consolidated investment products | CIPs	63		63		53
Schedule Of Consolidated Investment Products [Line Items]
CIPs' unfunded commitments	$ 4.9		$ 4.9
Transfers into Level 3 - assets			0	$ 0
Debt	697		$ 697		$ 695.9
Nonredeemable Real Estate and Private Equity Funds [Member]
Schedule Of Consolidated Investment Products [Line Items]
Liquidation weighted-average period			1 year 7 months 6 days
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
CIPs' unfunded commitments	173.4		$ 173.4		1.9
Unfunded commitments Company contractually obligated to fund	21.2		21.2		0.4
Transfers into Level 3 - assets	0	$ 0	0.1	0
Transfers out of Level 3 - assets	0	$ 0	(29)	$ 0
Debt	$ 31.8		$ 31.8		$ 32.6
Effective Interest Rate	6.94%		6.94%		6.79%
CIPs [Member] | Nonredeemable Real Estate and Private Equity Funds [Member]
Schedule Of Consolidated Investment Products [Line Items]
Liquidation weighted-average period			4 years 9 months 18 days		3 years 6 months
CIPs [Member] | Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Stated interest rate	3.07%		3.07%		3.07%
CIPs [Member] | Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Stated interest rate	8.13%		8.13%		7.88%

Consolidated Investment Produ_4

Consolidated Investment Products - Schedule of Balances of CIPs (Details) - USD ($) $ in Millions	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017
Assets [Abstract]
Cash and cash equivalents	$ 5,757.6			$ 6,910.6	$ 6,654.2			$ 8,749.7
Receivables	757.8			733.7
Investments, at fair value	619.4			551.6
Other assets	184.2			220.7
Total Assets	14,463.3			14,383.5
Liabilities [Abstract]
Accounts payable and accrued expenses	207.8			158.9
Debt	697			695.9
Other liabilities	271.1			184.1
Total liabilities	3,091			3,132
Redeemable Noncontrolling Interests	806.5			1,043.6
Stockholders' Equity [Abstract]
Franklin Resources, Inc.’s interests	9,911			9,899.2
Nonredeemable noncontrolling interests	654.8			308.7
Total stockholders’ equity	10,565.8	$ 10,499.1	$ 10,076.7	10,207.9	10,190.4	$ 10,402.2	$ 12,080.5	12,935.8
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	14,463.3			14,383.5
CIPs [Member]
Assets [Abstract]
Cash and cash equivalents	248.8			299.8
Receivables	92.4			114.2
Investments, at fair value	2,351.1			2,109.4
Other assets	0			1
Total Assets	2,692.3			2,524.4
Liabilities [Abstract]
Accounts payable and accrued expenses	52.6			68
Debt	31.8			32.6
Other liabilities	0.1			9.3
Total liabilities	84.5			109.9
Redeemable Noncontrolling Interests	806.5			1,043.6	$ 2,031.6			$ 1,941.9
Stockholders' Equity [Abstract]
Franklin Resources, Inc.’s interests	1,332			1,092.6
Nonredeemable noncontrolling interests	469.3			278.3
Total stockholders’ equity	1,801.3			1,370.9
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	$ 2,692.3			$ 2,524.4

Consolidated Investment Produ_5

Consolidated Investment Products - Schedule of Balances of Assets and Liabilities of CIPs Measured at Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2019	Sep. 30, 2018
Assets [Abstract]
Investments, at fair value	$ 619.4	$ 551.6
CIPs [Member]
Assets [Abstract]
Investments, at fair value	2,351.1	2,109.4
Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	619.4	551.6
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	334.6	457.7
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	58.5	61.3
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	32.4	32.6
Fair Value, Measurements, Recurring [Member] | NAV as a Practical Expedient [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	193.9
Fair Value, Measurements, Recurring [Member] | CIPs [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	2,351.1	2,109.4
Liability [Abstract]
Other liabilities	0.1	9.3
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 1 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	174	271.3
Liability [Abstract]
Other liabilities	0	0.6
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 2 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	1,517.8	1,374.3
Liability [Abstract]
Other liabilities	0.1	8.7
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	462.2	350
Liability [Abstract]
Other liabilities	0	0
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | NAV as a Practical Expedient [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	197.1	113.8
Equity securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member]
Assets [Abstract]
Investments, at fair value	867.5	739
Equity securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 1 [Member]
Assets [Abstract]
Investments, at fair value	173.1	270.7
Equity securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 2 [Member]
Assets [Abstract]
Investments, at fair value	229.7	154.8
Equity securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member]
Assets [Abstract]
Investments, at fair value	267.6	199.7
Equity securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | NAV as a Practical Expedient [Member]
Assets [Abstract]
Investments, at fair value	197.1	113.8
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member]
Assets [Abstract]
Investments, at fair value	1,429.6	1,338.1
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 1 [Member]
Assets [Abstract]
Investments, at fair value	0.9	0.6
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 2 [Member]
Assets [Abstract]
Investments, at fair value	1,288.1	1,219.5
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member]
Assets [Abstract]
Investments, at fair value	140.6	118
Real Estate [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member]
Assets [Abstract]
Investments, at fair value	29.1
Real Estate [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 1 [Member]
Assets [Abstract]
Investments, at fair value	0
Real Estate [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 2 [Member]
Assets [Abstract]
Investments, at fair value	0
Real Estate [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member]
Assets [Abstract]
Investments, at fair value	29.1
Loans [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member]
Assets [Abstract]
Investments, at fair value	24.9	32.3
Loans [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 1 [Member]
Assets [Abstract]
Investments, at fair value	0	0
Loans [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 2 [Member]
Assets [Abstract]
Investments, at fair value	0	0
Loans [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member]
Assets [Abstract]
Investments, at fair value	$ 24.9	$ 32.3

Consolidated Investment Produ_6

Consolidated Investment Products - Schedule of Changes in Level 3 Assets of CIPs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Schedule Of Consolidated Investment Products [Line Items]
Transfers into Level 3			$ 0	$ 0
Consolidated Investment Products [Member]
Schedule Of Consolidated Investment Products [Line Items]
Transfers into Level 3	$ 0	$ 0	0.1	0
Transfers out of Level 3	0	0	(29)	0
Consolidated Investment Products [Member] | Level 3 [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of period - assets	456.8	300.6	350	296.1
Acquisition			84.9
Realized and unrealized gains (losses) included in investment and other income (losses), net	8.2	5.7	6	25.3
Purchases	39.8	5.1	118.4	38.2
Sales	(29.4)	(2.7)	(50.5)	(55.3)
Settlements	(13.8)	(0.5)	(14.9)	(0.5)
Consolidation		7		7
Transfers into Level 3			0.1
Transfers out of Level 3			(29)
Foreign exchange revaluation	0.6	(4.8)	(2.8)	(0.4)
Balance at End of Period - assets	462.2	310.4	462.2	310.4
Change in unrealized gains (losses) included in net income relating to assets held at June 30, 2019	(4.7)	1.1	1	15.4
Consolidated Investment Products [Member] | Level 3 [Member] | Equity securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of period - assets	257.6	188.4	199.7	160.7
Acquisition			45.2
Realized and unrealized gains (losses) included in investment and other income (losses), net	0.5	5.4	7.4	22.9
Purchases	38.8	0.1	74.2	22.7
Sales	(29.4)	(2.6)	(29.8)	(17.5)
Settlements	0	0	(1)	0
Consolidation		0		0
Transfers into Level 3			0.1
Transfers out of Level 3			(25.4)
Foreign exchange revaluation	0.1	(3.8)	(2.8)	(1.3)
Balance at End of Period - assets	267.6	187.5	267.6	187.5
Change in unrealized gains (losses) included in net income relating to assets held at June 30, 2019	(13.3)	0.9	(6.3)	17.5
Consolidated Investment Products [Member] | Level 3 [Member] | Debt Securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of period - assets	131.7	112.2	118	135.4
Acquisition			39.7
Realized and unrealized gains (losses) included in investment and other income (losses), net	8.6	0.3	(2.4)	2.4
Purchases	0	0	9.4	10.5
Sales	0	(0.1)	(20.1)	(37.8)
Settlements	0	(0.5)	(0.1)	(0.5)
Consolidation		0		0
Transfers into Level 3			0
Transfers out of Level 3			(3.6)
Foreign exchange revaluation	0.3	(1)	(0.3)	0.9
Balance at End of Period - assets	140.6	110.9	140.6	110.9
Change in unrealized gains (losses) included in net income relating to assets held at June 30, 2019	8.8	0.2	4.9	(2.1)
Consolidated Investment Products [Member] | Level 3 [Member] | Loans [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of period - assets	38.4	0	32.3	0
Acquisition			0
Realized and unrealized gains (losses) included in investment and other income (losses), net	(0.7)	0	(2.2)	0
Purchases	1	5	9.2	5
Sales	0	0	(0.6)	0
Settlements	(13.8)	0	(13.8)	0
Consolidation		7		7
Transfers into Level 3			0
Transfers out of Level 3			0
Foreign exchange revaluation	0	0	0	0
Balance at End of Period - assets	24.9	12	24.9	12
Change in unrealized gains (losses) included in net income relating to assets held at June 30, 2019	0	$ 0	(0.8)	$ 0
Consolidated Investment Products [Member] | Level 3 [Member] | Real Estate [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of period - assets	29.1		0
Acquisition			0
Realized and unrealized gains (losses) included in investment and other income (losses), net	(0.2)		3.2
Purchases	0		25.6
Sales	0		0
Settlements	0		0
Transfers into Level 3			0
Transfers out of Level 3			0
Foreign exchange revaluation	0.2		0.3
Balance at End of Period - assets	29.1		29.1
Change in unrealized gains (losses) included in net income relating to assets held at June 30, 2019	$ (0.2)		$ 3.2

Consolidated Investment Produ_7

Consolidated Investment Products - Schedule of Valuation Techniques and Significant Unobservable Inputs used in Level 3 Fair Value Measurements (Details) $ in Millions		Jun. 30, 2019USD ($)$ / shares		Sep. 30, 2018USD ($)$ / shares
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		$ 619.4		$ 551.6
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		2,351.1		2,109.4
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Equity securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		867.5		739
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Debt Securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		1,429.6		1,338.1
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Loans [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		24.9		32.3
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Real Estate [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		29.1
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		267.6		199.7
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity securities [Member] | Market comparable companies [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		$ 128.5		$ 171.9
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity securities [Member] | Market comparable companies [Member] | EBITDA multiple [Member] | Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		4.7		5
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity securities [Member] | Market comparable companies [Member] | EBITDA multiple [Member] | Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		13.6		13.6
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity securities [Member] | Market comparable companies [Member] | EBITDA multiple [Member] | Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		9.7	[1]	9.3
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity securities [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		$ 117.1		$ 27.8
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity securities [Member] | Discounted cash flow [Member] | Discount rate [Member] | Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.060		0.080
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity securities [Member] | Discounted cash flow [Member] | Discount rate [Member] | Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.182		0.165
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity securities [Member] | Discounted cash flow [Member] | Discount rate [Member] | Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.127	[1]	0.141
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity securities [Member] | Market Pricing [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		$ 22
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity securities [Member] | Market Pricing [Member] | Private sale pricing [Member] | Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input | $ / shares		0.25
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity securities [Member] | Market Pricing [Member] | Private sale pricing [Member] | Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input | $ / shares		3.38
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity securities [Member] | Market Pricing [Member] | Private sale pricing [Member] | Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input | $ / shares	[1]	1.50
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Debt Securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		$ 140.6		$ 118
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Debt Securities [Member] | Market comparable companies [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		$ 28.7		$ 33.9
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Debt Securities [Member] | Market comparable companies [Member] | EBITDA multiple [Member] | Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		12.3	[1]	20.9
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Debt Securities [Member] | Market comparable companies [Member] | Price-to-earnings ratio [Member] | Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		10	[1]	10
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Debt Securities [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		$ 111.9		$ 78.7
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Debt Securities [Member] | Discounted cash flow [Member] | Discount rate [Member] | Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.055		0.070
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Debt Securities [Member] | Discounted cash flow [Member] | Discount rate [Member] | Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.230		0.148
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Debt Securities [Member] | Discounted cash flow [Member] | Discount rate [Member] | Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.104	[1]	0.108
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Debt Securities [Member] | Market Pricing [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value				$ 5.4
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Debt Securities [Member] | Market Pricing [Member] | Private sale pricing [Member] | Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input | $ / shares				0.42
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Loans [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		$ 24.9		$ 32.3
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Loans [Member] | Discounted cash flow [Member] | Loss-adjusted discount rate [Member] | Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.030		0.030
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Loans [Member] | Discounted cash flow [Member] | Loss-adjusted discount rate [Member] | Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.253		0.227
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Loans [Member] | Discounted cash flow [Member] | Loss-adjusted discount rate [Member] | Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.132	[1]	0.120
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Real Estate [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		$ 29.1
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Real Estate [Member] | Yield capitalization [Member] | Equivalent yield [Member] | Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	0.050
[1]	Based on the relative fair value of the instruments.

Consolidated Investment Produ_8

Consolidated Investment Products - Schedule of Financial Instruments of CIPs not Measured at Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2019	Sep. 30, 2018	Jun. 30, 2018	Sep. 30, 2017
Financial Assets [Abstract]
Cash and cash equivalents	$ 5,757.6	$ 6,910.6	$ 6,654.2	$ 8,749.7
Financial Liability [Abstract]
Debt	697	695.9
CIPs [Member]
Financial Assets [Abstract]
Cash and cash equivalents	248.8	299.8
Financial Liability [Abstract]
Debt	31.8	32.6
Carrying Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	5,508.8	6,610.8
Carrying Value [Member] | CIPs [Member]
Financial Assets [Abstract]
Cash and cash equivalents	248.8	299.8
Financial Liability [Abstract]
Debt	31.8	32.6
Estimated Fair Value [Member] | Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	5,508.8	6,610.8
Estimated Fair Value [Member] | CIPs [Member] | Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	248.8	299.8
Estimated Fair Value [Member] | CIPs [Member] | Level 3 [Member]
Financial Liability [Abstract]
Debt	$ 31.8	$ 32.4

Consolidated Investment Produ_9

Consolidated Investment Products - Schedule of Redeemable Noncontrolling Interest of CIPs (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Jun. 30, 2019	Jun. 30, 2018
Temporary Equity [Line Items]
Balance at beginning of period			$ 1,043.6				$ 1,043.6
Net income (loss)	$ 0.1			$ (45)			6.2	$ (18.3)
Net subscriptions and other	30.9	$ 51	23.1	(19.8)	$ (1.3)	$ 7
Net deconsolidations		$ 24.3		4.5	$ (1.8)	(0.3)
Balance at End of Period	806.5						806.5
Consolidated Investment Products [Member]
Temporary Equity [Line Items]
Balance at beginning of period			$ 1,043.6			$ 1,941.9	1,043.6	1,941.9
Net income (loss)							6.2	(18.3)
Balance at End of Period	$ 806.5			$ 2,031.6			806.5	2,031.6
Consolidated Investment Products [Member] | Redeemable Noncontrolling Interests [Member]
Temporary Equity [Line Items]
Net subscriptions and other							578.4	137.8
Net deconsolidations							$ (821.7)	$ (29.8)

Nonconsolidated Variable Inte_3

Nonconsolidated Variable Interest Entities - Narrative (Details) - Nonconsolidated VIEs [Member] $ in Millions	12 Months Ended
	Sep. 30, 2018USD ($)Funds
Variable Interest Entity [Line Items]
Number of sponsored funds | Funds	2
Equity and Debt Securities [Member]
Variable Interest Entity [Line Items]
Purchase of certain equity and debt securities | $	$ 32.6

Nonconsolidated Variable Inte_4

Nonconsolidated Variable Interest Entities - Schedule of Maximum Exposure to Loss (Details) - Nonconsolidated VIEs [Member] - USD ($) $ in Millions	Jun. 30, 2019	Sep. 30, 2018
Variable Interest Entity [Line Items]
Maximum exposure to loss	$ 542.6	$ 301.9
Investments [Member]
Variable Interest Entity [Line Items]
Maximum exposure to loss	376.6	161.8
Receivables [Member]
Variable Interest Entity [Line Items]
Maximum exposure to loss	$ 166	$ 140.1

Taxes on Income - Narrative (De

Taxes on Income - Narrative (Details) $ in Millions	Sep. 30, 2018USD ($)
Income Tax Disclosure [Abstract]
Net tax benefit	$ 87.6

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	9 Months Ended
	Jun. 30, 2019USD ($)
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
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	9 Months Ended
	Jun. 30, 2019USD ($)
Share-based Compensation [Abstract]
Unrecognized compensation expense related to nonvested stock and stock unit awards	$ 160.6
Remaining weighted-average vesting period	2 years

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock and Stock Unit Award Activity (Details) shares in Thousands	9 Months Ended
	Jun. 30, 2019$ / 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	4,781
Vested	(893)
Forfeited/canceled	(492)
Nonvested Balance at June 30, 2019	7,887
Nonvested beginning balance, Weighted Average Grant Date Fair Value | $ / shares	$ 39.08
Weighted Average Grant Date Fair Value of shares granted | $ / shares	30.75
Weighted Average Grant Date Fair Value of shares vested | $ / shares	37.86
Weighted Average Grant Date Fair Value of shares forfeited/canceled | $ / shares	36.90
Nonvested ending balance, Weighted Average Grant Date Fair Value | $ / shares	$ 34.31
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	3,884
Vested	(287)
Forfeited/canceled	(288)
Nonvested Balance at June 30, 2019	5,987
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	897
Vested	(606)
Forfeited/canceled	(204)
Nonvested Balance at June 30, 2019	1,900

Other Income (Expenses) - Narra

Other Income (Expenses) - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Other Income and Expenses [Abstract]
Proceeds from the sale of available-for-sale securities		$ 6.8		$ 48.2
Net gains (losses) recognized on equity securities measured at fair value and trading debt securities	$ 7.9		$ (1.9)
Net gains (losses) recognized on trading investment securities		(1.1)		2.3
Net gains (losses) recognized on investment securities of CIPs	$ 13.2	$ (39)	$ 14.8	$ (49.7)

Other Income (Expenses) - Sched

Other Income (Expenses) - Schedule of Other Income (Expense) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Other Income and Expenses [Abstract]
Dividend income	$ 24.2	$ 16.6	$ 74	$ 30
Interest income	7.2	15.4	24.7	64.9
Income (losses) from investments in equity method investees	5.5	(4.1)	15.1	41.8
Rental income	4.7	4.2	14.6	11.9
Foreign currency exchange gains (losses), net	0.1	5.8	7.3	(4.9)
Other income, net	0.5	0		2.2
Other expense, net			(0.3)
Total	44.2	(33.8)	103.8	134.9
Interest Expense	(5.6)	(22.1)	(17.7)	(42.9)
Other Income (Expenses), Net	38.6	(55.9)	86.1	92
Schedule Of Consolidated Investment Products [Line Items]
Gains (losses) on investments, net	0.3	(1.8)	(16.1)	4.3
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Gains (losses) on investments, net	$ 1.7	$ (69.9)	$ (15.5)	$ (15.3)

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						9 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Jun. 30, 2019	Jun. 30, 2018	Oct. 01, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	$ (386.5)		$ (370.6)	$ (259.7)		$ (284.8)	$ (370.6)	$ (284.8)
Other comprehensive income (loss) before reclassifications, net of tax	(2.9)			(83.2)			(10.9)	(54.8)
Reclassifications to net investment and other income (losses), net of tax	8.5			0			8.6	(3.2)
Total other comprehensive income (loss)	5.6	$ 7.1	(15)	(83.2)	$ 7	18.2	(2.3)	(58)
Balance at end of period	(380.9)	(386.5)		(342.9)	(259.7)		(380.9)	(342.9)
ASU 2016-01 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Adoption of new accounting guidance									$ (8)
ASU 2018-02 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Adoption of new accounting guidance						0
Adoption of new accounting guidance								(0.1)
Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(379.6)		(372.9)	(258.4)		(281)	(372.9)	(281)
Other comprehensive income (loss) before reclassifications, net of tax	1.9			(86.7)			(4.9)	(62.6)
Reclassifications to net investment and other income (losses), net of tax	0			0			0.1	(1.5)
Total other comprehensive income (loss)	1.9			(86.7)			(4.8)	(64.1)
Balance at end of period	(377.7)	(379.6)		(345.1)	(258.4)		(377.7)	(345.1)
Unrealized Losses on Defined Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(5.3)		(4.2)	(6.8)		(6)	(4.2)	(6)
Other comprehensive income (loss) before reclassifications, net of tax	0.1			0.2			(1)	(0.5)
Reclassifications to net investment and other income (losses), net of tax	0			0			0	0
Total other comprehensive income (loss)	0.1			0.2			(1)	(0.5)
Balance at end of period	(5.2)	(5.3)		(6.6)	(6.8)		(5.2)	(6.6)
Unrealized Losses on Defined Benefit Plans [Member] | ASU 2018-02 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Adoption of new accounting guidance								(0.1)
Unrealized Gains (Losses) on Investments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(1.6)		$ 6.5	5.5		$ 2.2	6.5	2.2
Other comprehensive income (loss) before reclassifications, net of tax	(4.9)			3.3			(5)	8.3
Reclassifications to net investment and other income (losses), net of tax	8.5			0			8.5	(1.7)
Total other comprehensive income (loss)	3.6			3.3			3.5	6.6
Balance at end of period	$ 2	$ (1.6)		$ 8.8	$ 5.5		$ 2	$ 8.8
Unrealized Gains (Losses) on Investments [Member] | ASU 2016-01 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Adoption of new accounting guidance									$ (8)