Franklin Resources (BEN) 10-K 12 Nov 19 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Sep. 30, 2019	Oct. 31, 2019	Mar. 29, 2019
Document And Entity Information [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Sep. 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	FY
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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 Public Float			$ 9.4
Entity Common Stock, Shares Outstanding		498,070,319
Documents Incorporated by Reference [Text Block]	Certain portions of the registrant’s definitive proxy statement for its annual meeting of stockholders, to be filed with the Securities and Exchange Commission within 120 days after September 30, 2019 , are incorporated by reference into Part III of this report.

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Operating Revenues
Other	$ 128.4	$ 129.9	$ 101.7
Revenues	5,774.5	6,319.1	6,392.2
Operating Expenses
Sales, distribution and marketing	1,819.6	2,039.7	2,130.9
Compensation and benefits	1,584.7	1,390.6	1,333.7
Information systems and technology	258.5	243.9	219.8
Occupancy	133.6	128.6	121.3
General, administrative and other	420.7	397.7	322.2
Total operating expenses	4,217.1	4,200.5	4,127.9
Operating Income	1,557.4	2,118.6	2,264.3
Other Income (Expenses)
Investment and other income, net	115.1	145.3	336.3
Interest expense	(24.7)	(48.7)	(51.5)
Other income, net	90.4	96.6	284.8
Income before taxes	1,647.8	2,215.2	2,549.1
Taxes on income	442.3	1,472.5	759.4
Net income	1,205.5	742.7	1,789.7
Less: net income (loss) attributable to
Redeemable noncontrolling interests	6.2	(12.8)	53
Net Income Attributable to Franklin Resources, Inc.	$ 1,195.7	$ 764.4	$ 1,696.7
Earnings per Share
Basic	$ 2.35	$ 1.39	$ 3.01
Diluted	$ 2.35	$ 1.39	$ 3.01
Investment management fees [Member]
Operating Revenues
Operating revenues	$ 3,985.2	$ 4,367.5	$ 4,359.2
Sales and distribution fees [Member]
Operating Revenues
Operating revenues	1,444.6	1,599.8	1,705.6
Shareholder servicing fees [Member]
Operating Revenues
Operating revenues	$ 216.3	$ 221.9	$ 225.7

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Net Income	$ 1,205.5	$ 742.7	$ 1,789.7
Other Comprehensive Income (Loss)
Currency translation adjustments, net of tax	(52.5)	(91.9)	65.4
Net unrealized gains (losses) on defined benefit plans, net of tax	(2)	1.9	2.1
Net unrealized gains on investments, net of tax	1.5	4.3	2.2
Total other comprehensive income (loss)	(53)	(85.7)	69.7
Total comprehensive income	1,152.5	657	1,859.4
Less: comprehensive income (loss) attributable to
Redeemable noncontrolling interests	6.2	(12.8)	53
Comprehensive Income Attributable to Franklin Resources, Inc.	$ 1,142.7	$ 678.7	$ 1,766.4

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018
Assets
Cash and cash equivalents	$ 5,957.6	$ 6,910.6
Receivables	740	733.7
Investments	1,555.8	1,426.5
Investments, at fair value	589.7	551.6
Property and equipment, net	683.7	535
Goodwill and other intangible assets, net	2,994.5	2,333.4
Other	197.7	220.7
Total Assets	14,532.2	14,383.5
Liabilities
Compensation and benefits	502.4	405.6
Accounts payable and accrued expenses	222.9	158.9
Dividends	137.4	127.7
Commissions	254	297.9
Income taxes	824.7	1,034.8
Debt	696.9	695.9
Deferred taxes	120.1	126.5
Other	270.6	184.1
Total liabilities	3,161.3	3,132
Commitments and Contingencies (Note 14)
Redeemable Noncontrolling Interests	746.7	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; 499,303,269 and 519,122,574 shares issued and outstanding at September 30, 2019 and 2018	49.9	51.9
Retained earnings	10,288.2	10,217.9
Accumulated other comprehensive loss	(431.6)	(370.6)
Total Franklin Resources, Inc. stockholders’ equity	9,906.5	9,899.2
Nonredeemable noncontrolling interests	717.7	308.7
Total stockholders’ equity	10,624.2	10,207.9
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	14,532.2	14,383.5
Consolidated Investment Products [Member]
Assets
Cash and cash equivalents	154.2	299.8
Receivables	99	114.2
Investments, at fair value	2,303.9	2,109.4
Other	0	1
Total Assets	2,557.1	2,524.4
Liabilities
Accounts payable and accrued expenses	81.5	68
Debt	50.8	32.6
Other	0	9.3
Total liabilities	132.3	109.9
Redeemable Noncontrolling Interests	746.7	1,043.6
Stockholders’ Equity
Total Franklin Resources, Inc. stockholders’ equity	1,129.6	1,092.6
Nonredeemable noncontrolling interests	548.5	278.3
Total stockholders’ equity	1,678.1	1,370.9
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	2,557.1	2,524.4
Franklin Resources, Inc. [Member]
Assets
Cash and cash equivalents	$ 5,803.4	$ 6,610.8

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018
Statement of Financial Position [Abstract]
Investments, at fair value	$ 589.7	$ 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	499,303,269	519,122,574
Common stock, shares outstanding	499,303,269	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 2015-02 [Member]	$ (325.9)			$ 5.8	$ (7.1)	$ (1.3)	$ (324.6)
Beginning balance - Shares at Sep. 30, 2016		570.3
Beginning balance at Sep. 30, 2016		$ 57	$ 0	12,226.2	(347.4)	11,935.8
Beginning balance at Sep. 30, 2016							592.4
Beginning balance at Sep. 30, 2016	12,528.2
Stockholders' Equity [Roll Forward]
Net income (loss)	1,696.7			1,696.7		1,696.7
Nonredeemable noncontrolling interests							40
Net income (loss)	1,736.7
Other comprehensive income (loss)	69.7				69.7	69.7
Dividends declared on common stock	(449.9)			(449.9)		(449.9)
Repurchase of common stock - Shares		(19.1)
Repurchase of common stock - Amount	(771.5)	$ (1.9)	(140.1)	(629.5)		(771.5)
Issuance of common stock - Shares		3.7
Issuance of common stock - Amount	134.6	$ 0.4	134.2			134.6
Tax shortfall from stock-based compensation	(8.7)		(8.7)			(8.7)
Stock-based compensation	14.6		14.6			14.6
Net subscriptions (distributions) and other	17.3						17.3
Consolidation (deconsolidation) of investment products	(9.3)						(9.3)
Ending balance - Shares at Sep. 30, 2017		554.9
Ending balance at Sep. 30, 2017		$ 55.5	0	12,849.3	(284.8)	12,620
Ending balance at Sep. 30, 2017							315.8
Ending balance at Sep. 30, 2017	12,935.8
Stockholders' Equity [Roll Forward]
Adoption of new accounting guidance | ASU 2016-09 [Member]	0.4		2.1	(1.6)	(0.1)	0.4
Net income (loss)	764.4			764.4		764.4
Nonredeemable noncontrolling interests							(8.9)
Net income (loss)	755.5
Other comprehensive income (loss)	(85.7)				(85.7)	(85.7)
Dividends declared on common stock	(2,131.3)			(2,131.3)		(2,131.3)
Repurchase of common stock - Shares		(39.9)
Repurchase of common stock - Amount	(1,426.7)	$ (4)	(170.4)	(1,252.3)		(1,426.7)
Issuance of common stock - Shares		3.3
Issuance of common stock - Amount	131.1	$ 0.3	130.8			131.1
Stock-based compensation	10.6		10.6			10.6
Net subscriptions (distributions) and other	(6)						(6)
Consolidation (deconsolidation) of investment products	2.4						2.4
Acquisition - Shares		0.8
Acquisition - Amount	27	$ 0.1	26.9			27
Purchase of noncontrolling interest	(5.2)			(10.6)		(10.6)	5.4
Ending balance - Shares at Sep. 30, 2018		519.1
Ending balance at Sep. 30, 2018	9,899.2	$ 51.9	0	10,217.9	(370.6)	9,899.2
Ending balance at Sep. 30, 2018	308.7						308.7
Ending balance at Sep. 30, 2018	10,207.9
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)
Net income (loss)	1,195.7			1,195.7		1,195.7
Nonredeemable noncontrolling interests							3.6
Net income (loss)	1,199.3
Other comprehensive income (loss)	(53)				(53)	(53)
Dividends declared on common stock	(528.3)			(528.3)		(528.3)
Repurchase of common stock - Shares		(24.6)
Repurchase of common stock - Amount	(756.3)	$ (2.5)	(133.8)	(620)		(756.3)
Issuance of common stock - Shares		4.8
Issuance of common stock - Amount	130.3	$ 0.5	129.8			130.3
Stock-based compensation	4		4			4
Net subscriptions (distributions) and other	165						165
Consolidation (deconsolidation) of investment products	24.3						24.3
Acquisition	216.1						216.1
Ending balance - Shares at Sep. 30, 2019		499.3
Ending balance at Sep. 30, 2019	9,906.5	$ 49.9	$ 0	$ 10,288.2	$ (431.6)	$ 9,906.5
Ending balance at Sep. 30, 2019	717.7						$ 717.7
Ending balance at Sep. 30, 2019	$ 10,624.2

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Statement of Stockholders' Equity [Abstract]
Dividends declared per share	$ 1.04	$ 3.92	$ 0.8

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Net cash provided by operating activities
Net Income	$ 1,205.5	$ 742.7	$ 1,789.7
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of deferred sales commissions	85.8	80.7	72
Depreciation and other amortization	93.4	76.4	80.3
Stock-based compensation	111.5	117.8	123.4
Losses (income) from investments in equity method investees	10.4	(44.4)	(107.9)
Net losses (gains) on investments of consolidated investment products	26.3	55	(118.2)
Net (purchase) liquidation of investments by consolidated investment products	(1,497.6)	365.7	(812.2)
Deferred income taxes	(1.3)	(50.6)	8.8
Other	25.1	33.7	(14.9)
Changes in operating assets and liabilities:
Increase in receivables and other assets	(34.2)	(90.1)	(96.7)
Decrease (increase) in receivables of consolidated investment products	(34.3)	68.5	(64.3)
Decrease (increase) in investments, net	142.5	(39.2)	130.2
Increase (decrease) in accrued compensation and benefits	89.4	(19.1)	37.2
Increase (decrease) in commissions payable	(43.9)	(15.4)	11.3
Increase (decrease) in income taxes payable	(210.1)	965.2	44.5
Increase (decrease) in accounts payable, accrued expenses and other liabilities	126	(23)	(9.2)
Increase in accounts payable and accrued expenses of consolidated investment products	107.1	5.8	61.4
Net cash provided by operating activities	201.6	2,229.7	1,135.4
Net cash (used in) provided by investing activities
Purchase of investments	(393.9)	(358.2)	(372.5)
Liquidation of investments	343.2	286.2	344.9
Purchase of investments by consolidated investment products	0	(73.8)	(114.7)
Liquidation of investments by consolidated investment products	0	73.3	368.1
Additions of property and equipment, net	(233.7)	(106.5)	(74.9)
Adoption of new accounting guidance	0	0	(49.2)
Acquisitions, net of cash acquired	(684.2)	(86.8)	(14)
Net deconsolidation of investment products	(108.5)	(24.6)	(35.7)
Net cash (used in) provided by investing activities	(1,077.1)	(290.4)	52
Net cash used in financing activities
Issuance of common stock	23.3	24.8	24.9
Dividends paid on common stock	(518.6)	(2,116.9)	(441.2)
Repurchase of common stock	(754.5)	(1,424.8)	(765.3)
Excess tax benefit from stock-based compensation	0	0	0.9
Payments on debt	0	(361.9)	(300)
Proceeds from loan	1.7	0	0
Payments on loan	(1.5)	0	(53.7)
Proceeds from debt of consolidated investment products	19.9	0	20.6
Payments on debt by consolidated investment products	(2)	(21)	(308.5)
Payments on contingent consideration liability	(20.4)	(21.6)	(35.3)
Noncontrolling interests	1,211.6	159.7	901.6
Net cash used in financing activities	(40.5)	(3,761.7)	(956)
Effect of exchange rate changes on cash and cash equivalents	(37)	(16.7)	35
Increase (decrease) in cash and cash equivalents	(953)	(1,839.1)	266.4
Cash and cash equivalents, beginning of year	6,910.6	8,749.7	8,483.3
Cash and Cash Equivalents, End of Year	5,957.6	6,910.6	8,749.7
Supplemental Disclosure of Cash Flow Information
Cash paid for income taxes	520.8	523.5	712.2
Cash paid for interest	27.4	38.6	42.3
Cash paid for interest by consolidated investment products	$ 2.3	$ 2.6	$ 11.2

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Business. Franklin Resources, Inc. (“Franklin”) is a holding company that, together with its subsidiaries (collectively, the “Company”), operates as Franklin Templeton. The Company provides investment management and related services in jurisdictions worldwide for investors in investment products which include sponsored funds, as well as institutional and high-net-worth separate accounts. In addition to investment management, the Company ’ s services include fund administration, sales and distribution, and shareholder servicing. Basis of Presentation. The consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America, which require the use of estimates, judgments and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the periods presented. Management believes that the accounting estimates are appropriate and the resulting balances are reasonable; however, due to the inherent uncertainties in making estimates, actual amounts may differ from these estimates. Certain comparative amounts for prior fiscal years have been reclassified to conform to the financial statement presentation as of and for the fiscal year ended September 30, 2019 (“fiscal year 2019 ”). Consolidation. The consolidated financial statements include the accounts of Franklin and its subsidiaries and consolidated investment products (“CIPs”) in which it has a controlling financial interest. The Company has a controlling financial interest when it owns a majority of the voting interest in a voting interest entity (“VOE”) or is the primary beneficiary of a variable interest entity (“VIE”). Intercompany accounts and transactions have been eliminated. A VIE is an entity in which the equity investment holders have not contributed sufficient capital to finance its activities or do not have defined rights and obligations normally associated with an equity investment. Substantially all of the Company ’ s VIEs are investment products, and its variable interests consist of its equity ownership interests in and investment management fees earned from these products. The Company is the primary beneficiary of a VIE if it has the power to direct the activities that most significantly impact the VIE ’ s economic performance and the obligation to absorb losses of or right to receive benefits from the VIE that could potentially be significant to the VIE. Investment management fees earned from VIEs are excluded from the primary beneficiary determination if they are deemed to be at market and commensurate with service. The key estimates and assumptions used in the analyses include the amount of assets under management (“AUM”) and the life of the investment product. Related Parties include sponsored funds and equity method investees. A substantial amount of the Company ’ s operating revenues and receivables are from related parties. Earnings per Share . Basic and diluted earnings per share are computed using the two-class method, which considers participating securities as a separate class of shares. The Company ’ s participating securities consist of its nonvested stock and stock unit awards that contain nonforfeitable rights to dividends or dividend equivalents. Basic earnings per share is computed by dividing net income available to the Company ’ s common stockholders, adjusted to exclude earnings allocated to participating securities, by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share is computed on the basis of the weighted-average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period. Business combinations are accounted for by recognizing the acquired assets, including separately identifiable intangible assets, and assumed liabilities at their acquisition-date estimated fair values. Any excess of the purchase consideration over the acquisition-date fair values of these identifiable assets and liabilities is recognized as goodwill. During the measurement period, which is not to exceed one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed due to new information about facts that existed as of the acquisition date, with the corresponding offset to goodwill. Upon the conclusion of the measurement period, any subsequent adjustments are recorded in earnings. Intangible assets acquired in business combinations consist of investment management contracts. The fair values of the acquired assets are based on the net present value of estimated future cash flows attributable to the contracts, which include significant assumptions about forecasts of the AUM growth rate, pre-tax profit margin, average effective fee rate, effective tax rate and discount rate. The intangible assets are amortized over their estimated useful lives, which range from three to 15 years , using the straight-line method, unless the asset is determined to have an indefinite useful life. Indefinite-lived intangible assets represent contracts to manage investment assets for which there is no foreseeable limit on the contract period. Goodwill and indefinite-lived intangible assets are tested for impairment annually as of August 1 and when an event occurs or circumstances change that more likely than not reduce the fair value of the related reporting unit or indefinite-lived intangible asset below its carrying value. The Company has one reporting unit, investment management and related services, consistent with its single operating segment, to which all goodwill has been assigned. Amortization and impairment are recognized in general, administrative and other expense. Goodwill and indefinite-lived intangible assets may first be assessed for qualitative factors to determine whether it is necessary to perform a quantitative impairment test. The qualitative analysis considers entity-specific and macroeconomic factors and their potential impact on the key assumptions used in the determination of the fair value of the reporting unit or indefinite-lived intangible asset. A quantitative impairment test is performed if the results of the qualitative assessment indicate that it is more likely than not that the fair value of the reporting unit is less than its carrying value or an indefinite-lived intangible asset is impaired, or if a qualitative assessment is not performed. If a quantitative goodwill impairment test indicates that the carrying value of the goodwill exceeds the fair value of the reporting unit, impairment is recognized in the amount of the excess of the carrying value over the implied fair value of the goodwill, which considers the fair value assigned to all other assets and liabilities of the reporting unit. If a quantitative indefinite-lived intangible assets impairment test indicates that the carrying value of the asset exceeds the fair value, impairment is recognized in the amount of the difference in values. The fair values of the reporting unit and indefinite-lived intangible assets are based on the net present value of estimated future cash flows, which include assumptions about the AUM growth rate, pre-tax profit margin, average effective fee rate, effective tax rate and discount rate. Definite-lived intangible assets are tested for impairment quarterly. Impairment is indicated when the carrying value of an asset is not recoverable and exceeds its fair value. Recoverability is evaluated based on estimated undiscounted future cash flows using assumptions about the AUM growth rate, pre-tax profit margin, average effective fee rate and expected useful lives. If the carrying value of an asset is not recoverable through undiscounted cash flows, impairment is recognized in the amount by which the carrying value exceeds the asset’s fair value, as determined by discounted cash flows or other methods as appropriate for the asset type. Fair Value Measurements. The Company uses a three-level fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value based on whether the inputs to those valuation techniques are observable or unobservable. The three levels of fair value hierarchy are set forth below. The assessment of the hierarchy level of the assets or liabilities measured at fair value is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities, which may include published net asset values (“NAV”) for fund products. Level 2 Observable inputs other than Level 1 quoted prices, such as non-binding quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs other than quoted prices that are observable or corroborated by observable market data. Level 2 quoted prices are generally obtained from two independent third-party brokers or dealers, including prices derived from model-based valuation techniques for which the significant assumptions are observable in the market or corroborated by observable market data. Quoted prices are validated through price variance analysis, subsequent sales testing, stale price review, price comparison across pricing vendors and due diligence reviews of third-party vendors. Level 3 Unobservable inputs that are supported by little or no market activity. These inputs require significant management judgment and reflect the Company’s estimation of assumptions that market participants would use in pricing the asset or liability. Quoted market prices may be adjusted if events occur, such as significant price changes in proxies traded in relevant markets after the close of corresponding markets, trade halts or suspensions, or unscheduled market closures. These proxies consist of correlated country-specific exchange-traded securities, such as futures, American Depositary Receipts indices or exchange-traded funds. The price adjustments are primarily determined based on third-party factors derived from model-based valuation techniques for which the significant assumptions are observable in the market. A substantial amount of the Company’s investments is recorded at fair value or amounts that approximate fair value on a recurring basis. Investments in fund products for which fair value is estimated using NAV as a practical expedient (when the NAV is available to the Company as an investor but is not publicly available) are not classified in the fair value hierarchy. Fair values are estimated for disclosure purposes for financial instruments that are not measured at fair value. Cash and Cash Equivalents primarily consist of nonconsolidated sponsored money market funds and deposits with financial institutions and are carried at cost. Due to the short-term nature and liquidity of these financial instruments, their carrying values approximate fair value. The Company maintains cash and cash equivalents with financial institutions in various countries, limits the amount of credit exposure with any given financial institution and conducts ongoing evaluations of the creditworthiness of the financial institutions with which it does business. Receivables consist primarily of fees receivable from investment products and are carried at invoiced amounts. Due to the short-term nature and liquidity of the receivables, their carrying values approximate fair value. Investments consist of equity securities measured at fair value, debt securities, investments in equity method investees and other investments. At September 30, 2018 , prior to the adoption of new accounting guidance, investments in equity securities with a readily determinable fair value were classified as either trading or available-for-sale and investments in fund products without a published NAV were carried at cost. Equity Securities, at fair value consist primarily of nonconsolidated sponsored funds and to a lesser extent, other equity investment securities. Changes in the fair value of the investments are recognized as gains and losses in earnings. The fair values of funds are determined based on their published NAV or estimated using NAV as a practical expedient. The fair values of equity securities other than funds are determined using independent third-party broker or dealer price quotes or based on discounted cash flows using significant unobservable inputs. Debt Securities consist of trading and available-for-sale securities and are carried at fair value. Changes in the fair value of trading securities are recognized as gains and losses in earnings. Unrealized gains and losses on available-for-sale securities are recorded net of tax as part of accumulated other comprehensive income (loss) until realized, at which time they are recognized in earnings using the average cost method. The fair values of debt securities are determined using independent third-party broker or dealer price quotes, or based on discounted cash flows using significant unobservable inputs. Investments in Equity Method Investees consist of equity investments in entities, including sponsored funds, over which the Company is able to exercise significant influence, but not control. Significant influence is generally considered to exist when the Company ’ s ownership interest in the investee is between 20% and 50%, although other factors, such as representation on the investee ’ s board of directors and the impact of commercial arrangements, also are considered in determining whether the equity method of accounting is appropriate. Investments in limited partnerships and limited liability companies are accounted for using the equity method when the Company ’ s investment is more than minor or when the Company is the general partner. Under the equity method of accounting, the investments are initially carried at cost and subsequently adjusted by the Company ’ s proportionate share of the entities ’ net income, which is recognized in earnings. Other Investments consist of equity investments in entities over which the Company is unable to exercise significant influence and do not have a readily determinable fair value, time deposits with maturities greater than three months from the date of purchase, and life settlement contracts. The equity investments are measured at cost adjusted for observable price changes and impairment, if any, which are recognized in earnings. The fair value of the entities is generally estimated using significant unobservable inputs in either a market-based or income-based approach. The time deposits are carried at cost, which approximates fair value due to their short-term nature and liquidity. Life settlement contracts are carried at fair value, which is determined based on discounted cash flows using significant unobservable inputs. Impairment of Investments. Investments in available-for-sale securities, equity method investees and equity investments that do not have a readily determinable fair value are evaluated for impairment on a quarterly basis. The evaluation of equity investments considers qualitative factors, including the financial condition and specific events related to an investee, that may indicate the fair value of the investment is less than its carrying value. Impairment of equity securities is recognized in earnings. Available-for-sale debt securities are evaluated for other-than-temporary impairment when the cost of an investment exceeds its fair value. If the Company intends to sell or it is more likely than not that it will be required to sell a security before recovery of its amortized cost, the entire impairment is recognized in earnings. If the Company does not intend to sell or it is not more likely than not that it will be required to sell the security before anticipated recovery of its amortized cost, the impairment related to credit loss, which is the difference between the security ’ s amortized cost and the present value of its expected cash flows, is recognized in earnings with the remaining loss recognized in accumulated other comprehensive income (loss). Cash and Cash Equivalents of CIPs consist of highly liquid investments, including money market funds, which are readily convertible into cash, and deposits with financial institutions, and are carried at cost. Due to the short-term nature and liquidity of these financial instruments, their carrying values approximate fair value. Receivables of CIPs consist of investment and share transaction related receivables and are carried at transacted amounts. Due to the short-term nature and liquidity of the receivables, their carrying values approximate fair value. Investments of CIPs consist of marketable debt and equity securities and other investments that are not generally traded in active markets, and are carried at fair value. Changes in the fair value of the investments are recognized as gains and losses in earnings. The fair values of marketable securities are determined using quoted market prices, or independent third-party broker or dealer price quotes if quoted market prices are not available. The investments that are not generally traded in active markets consist of equity and debt securities of entities in emerging markets, fund products, other equity and debt instruments, real estate and loans. The fair values are determined using significant unobservable inputs in either a market-based or income-based approach, except for fund products, for which fair values are estimated using NAV as a practical expedient. Property and Equipment, net are recorded at cost and depreciated using the straight-line method over their estimated useful lives which range from three to 35 years. Expenditures for repairs and maintenance are charged to expense when incurred. Leasehold improvements are amortized using the straight-line method over their estimated useful lives or the lease term, whichever is shorter. Internal and external costs incurred in connection with developing or obtaining software for internal use are capitalized and amortized over the shorter of the estimated useful lives of the software or the license terms, beginning when the software project is complete and the application is put into production. Property and equipment are tested for impairment when there is an indication that the carrying value of an asset may not be recoverable. Carrying values are not recoverable when the undiscounted cash flows estimated to be generated by the assets are less than their carrying values. When an asset is determined to not be recoverable, the impairment is measured based on the excess, if any, of the carrying value of the asset over its respective fair value. Fair value is determined by discounted future cash flows models, appraisals or other applicable methods. Deferred Sales Commissions consist of upfront commissions paid to financial advisers and broker-dealers on shares of sponsored funds sold without a front-end sales charge, and are amortized over the periods in which they are generally recovered from related revenues, which range from 18 months to six years . Deferred sales commissions are included in other assets in the consolidated balance sheet. Debt consists almost entirely of senior notes which are carried at amortized cost. The fair value is estimated using quoted market prices, independent third-party broker or dealer price quotes, or prices of publicly traded debt with similar maturities, credit risk and interest rates. Debt of CIPs is carried at amortized cost. The fair value is estimated using a discounted cash flow model that considers current interest rate levels, the quality of the underlying collateral and current economic conditions. Contingent Consideration Liability consisted of the expected future payments related to the Company’s commitment to acquire the remaining interests in K2 Advisors Holdings, LLC and was included in other liabilities in the consolidated balance sheet as of September 30, 2018 . The liability, which was settled during fiscal year 2019, was carried at fair value, determined using the net present value of anticipated future cash flows. Noncontrolling Interests relate almost entirely to CIPs. Noncontrolling interests that are currently redeemable or convertible for cash or other assets at the option of the holder are classified as temporary equity. Nonredeemable noncontrolling interests are classified as a component of equity. Net income (loss) attributable to third-party investors is reflected as net income (loss) attributable to nonredeemable and redeemable noncontrolling interests in the consolidated statements of income. Sales and redemptions of shares of CIPs by third-party investors are a component of the change in noncontrolling interests included in financing activities in the consolidated statements of cash flows. Revenues . 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 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 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. Stock-Based Compensation. The fair value of stock-based payment awards is estimated on the date of grant based on the market price of the underlying shares of the Company ’ s common stock and is amortized to compensation expense on a straight-line basis over the related vesting period, which is generally three years . Expense relating to awards subject to performance conditions is recognized if it is probable that the conditions will be achieved. The probability of achievement is assessed on a quarterly basis. Forfeitures are accounted for as they occur. Postretirement Benefits . Defined contribution plan costs are expensed as incurred. Income Taxes. Deferred tax assets and liabilities are recorded for temporary differences between the tax basis of assets and liabilities and the reported amounts in the consolidated financial statements using the statutory tax rates in effect for the year when the reported amount of the asset or liability is expected to be recovered or settled, respectively. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income tax expense in the period that includes the enactment date. A valuation allowance is recorded to reduce the carrying values of deferred tax assets to the amount that is more likely than not to be realized. For each tax position taken or expected to be taken in a tax return, the Company determines whether it is more likely than not that the position will be sustained upon examination based on the technical merits of the position, including resolution of any related appeals or litigation. A tax position that meets the more likely than not recognition threshold is measured at the largest amount of benefit that is greater than 50% likely of being realized upon settlement. Interest on tax matters is recognized in interest expense and penalties in other operating expenses. As a multinational corporation, the Company operates in various locations outside the U.S. and generates earnings worldwide. The Company repatriates the earnings in excess of regulatory, capital or operational requirements of substantially all of its non-U.S. subsidiaries. Prior to January 1, 2018, the Company indefinitely reinvested the undistributed earnings of all its non-U.S. subsidiaries, except for income previously taxed in the U.S. or subject to regulatory or legal repatriation restrictions or requirements. Foreign Currency Translation and Transactions. Assets and liabilities of non-U.S. subsidiaries for which the local currency is the functional currency are translated at current exchange rates as of the end of the accounting period. The related revenues and expenses are translated at average exchange rates in effect during the period. Net exchange gains and losses resulting from translation are excluded from income and are recorded as part of accumulated other comprehensive income (loss). Transactions denominated in a foreign currency are revalued at the current exchange rate at the transaction date and any related gains and losses are recognized in earnings.

New Accounting Guidance

New Accounting Guidance	12 Months Ended
	Sep. 30, 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: (in millions) As Reported Adoption Impact Amount Without Adoption for the fiscal year ended September 30, 2019 Operating Revenues Investment management fees $ 3,985.2 $ 59.6 $ 4,044.8 Sales and distribution fees 1,444.6 (59.6 ) 1,385.0 Shareholder servicing fees 216.3 (8.6 ) 207.7 Operating Expenses General, administrative and other $ 420.7 $ (8.6 ) $ 412.1 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 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 using the modified retrospective approach and expects to recognize a right-of-use asset of approximately $270 million and a lease liability of approximately $315 million , substantially all of which relate to real estate leases. The FASB issued new guidance for the accounting for credit losses in June 2016. The new guidance requires the application of a current expected credit loss model for financial assets measured at amortized cost, including receivables, and an allowance for credit loss model for available-for-sale debt securities. The guidance is effective for the Company on October 1, 2020 and requires a cumulative effect adjustment to retained earnings at adoption. The Company is currently evaluating the impact of adopting the guidance.

Acquisition

Acquisition	12 Months Ended
	Sep. 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 initial and revised estimated fair values of the assets acquired and liabilities and noncontrolling interests assumed were as follows: (in millions) Initial Estimated Fair Value Adjustments Revised Estimated Fair Value as of February 1, 2019 Cash $ 33.2 $ — $ 33.2 Investments 138.8 — 138.8 Investments of consolidated investment products 84.9 — 84.9 Indefinite-lived intangible assets 307.5 (27.4 ) 280.1 Definite-lived intangible assets 75.8 — 75.8 Goodwill 315.8 29.9 345.7 Other assets 35.7 (0.5 ) 35.2 Other liabilities (58.2 ) 0.7 (57.5 ) Nonredeemable noncontrolling interests (216.1 ) — (216.1 ) Total Identifiable Net Assets $ 717.4 $ 2.7 $ 720.1 The adjustments to the initial estimated fair values are a result of new information obtained about facts that existed as of the acquisition date. The fair values of the intangible assets, which relate to management contracts, and goodwill were retrospectively adjusted as of February 1, 2019. The estimated useful life of certain of the intangible assets was also retrospectively adjusted. 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 $453.2 million , which includes deferred payments that are recognized as compensation expense for accounting purposes. Costs incurred in connection with the acquisition were $6.8 million in fiscal year 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	12 Months Ended
	Sep. 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) for the fiscal years ended September 30, 2019 2018 2017 Net income attributable to Franklin Resources, Inc. $ 1,195.7 $ 764.4 $ 1,696.7 Less: allocation of earnings to participating nonvested stock and stock unit awards 10.9 17.6 12.4 Net Income Available to Common Stockholders $ 1,184.8 $ 746.8 $ 1,684.3 Weighted-average shares outstanding – basic 503.6 537.4 558.8 Dilutive effect of nonparticipating nonvested stock unit awards 0.7 0.6 0.3 Weighted-Average Shares Outstanding – Diluted 504.3 538.0 559.1 Earnings per Share Basic $ 2.35 $ 1.39 $ 3.01 Diluted 2.35 1.39 3.01 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 fiscal year 2019 , 0.3 million for the fiscal year ended September 30, 2018 (“fiscal year 2018 ”), and 0.7 million for the fiscal year ended September 30, 2017 (“fiscal year 2017 ”).

Revenues

Revenues	12 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenues	Revenues 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 fiscal year ended Investment management fees $ 2,260.6 $ 1,064.7 $ 325.4 $ 241.8 $ 92.7 $ — $ 3,985.2 Sales and distribution fees 941.3 437.2 63.3 1.3 1.5 — 1,444.6 Shareholder servicing fees 175.7 30.1 0.1 10.4 — — 216.3 Other 18.6 1.5 — 1.0 2.2 105.1 128.4 Total $ 3,396.2 $ 1,533.5 $ 388.8 $ 254.5 $ 96.4 $ 105.1 $ 5,774.5 __________________ 1 Consists of interest and dividend income from consolidated investment products. Operating revenues are attributed to geographic areas based on the locations of the subsidiaries that provide the services, which may differ from the regions in which the related investment products are sold.

Investments

Investments	12 Months Ended
	Sep. 30, 2019
Investments [Abstract]
Investments	Investments The disclosures below include details of the Company’s investments, excluding those of CIPs. See Note 11 – 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 year ended September 30, 2019 . Investments consisted of the following: (in millions) as of September 30, 2019 Equity securities, at fair value Sponsored funds $ 466.4 Other equity securities 63.6 Total equity securities, at fair value 530.0 Debt securities Trading 44.2 Available-for-sale 4.0 Total debt securities 48.2 Investments in equity method investees 933.4 Other investments 44.2 Total $ 1,555.8 (in millions) as of September 30, 2018 Investment securities, trading Sponsored funds $ 248.1 Debt and other equity securities 97.6 Total investment securities, trading 345.7 Investment securities, available-for-sale Sponsored funds 178.6 Debt and other equity securities 15.5 Total investment securities, available-for-sale 194.1 Investments in equity method investees 780.8 Other investments 105.9 Total $ 1,426.5 Investment securities with aggregate carrying amounts of $1.2 million were pledged as collateral at both September 30, 2019 and 2018 . Gross unrealized gains and losses relating to investment securities, available-for-sale were as follows: Gross Unrealized (in millions) Cost Basis Gains Losses Fair Value as of September 30, 2019 Debt securities $ 4.0 $ — $ — $ 4.0 as of September 30, 2018 Sponsored funds $ 172.9 $ 8.3 $ (2.6 ) $ 178.6 Debt and other equity securities 16.8 0.5 (1.8 ) 15.5 Total $ 189.7 $ 8.8 $ (4.4 ) $ 194.1 There were no gross unrealized losses relating to investment securities, available-for-sale at September 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: Less Than 12 Months 12 Months or Greater Total (in millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses as of 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 $10.5 million in earnings during fiscal year 2019 , and $1.7 million and $0.8 million during fiscal years 2018 and 2017

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Sep. 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 CIPs. See Note 11 – 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 Total as of September 30, 2019 Assets Equity securities, at fair value Sponsored funds $ 397.0 $ — $ — $ 69.4 $ 466.4 Other equity securities 22.6 3.2 0.8 37.0 63.6 Debt securities Trading — 24.4 19.8 — 44.2 Available-for-sale — 4.0 — — 4.0 Life settlement contracts — — 11.5 — 11.5 Total Assets Measured at Fair Value $ 419.6 $ 31.6 $ 32.1 $ 106.4 $ 589.7 (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 Investments for which fair value was estimated using reported NAV as a practical expedient primarily consist of nonredeemable private debt, equity, infrastructure and real estate funds. These investments are expected to be returned through distributions over the life of the funds as a result of liquidations of the funds’ underlying assets. The expected weighted-average life for $46.9 million of the investments was 1.3 years at September 30, 2019 . The liquidation period for a $48.6 million investment in a private debt fund is unknown. The Company’s unfunded commitments to the funds totaled $4.7 million at September 30, 2019 . Changes in the Level 3 assets and liability were as follows: 2019 2018 (in millions) Investments Contingent Consideration Liability Investments Contingent Consideration Liability for the fiscal years ended September 30, Balance at beginning of year $ 32.6 $ (38.7 ) $ 199.9 $ (51.0 ) Total realized and unrealized gains (losses) Included in investment and other income, net 7.0 — 4.5 — Included in general, administrative and other expense — (2.0 ) — (13.1 ) Purchases 10.7 — 14.5 — Sales (6.5 ) — (2.6 ) — Settlements (4.6 ) 40.7 (174.0 ) 32.4 Transfers out of Level 3 (7.1 ) — — — Foreign exchange revaluation and other — — (9.7 ) (7.0 ) Balance at End of Year $ 32.1 $ — $ 32.6 $ (38.7 ) Change in unrealized gains (losses) included in net income relating to assets and liability held at end of year $ 3.4 $ — $ 2.1 $ (13.1 ) There were no transfers into Level 3 during fiscal years 2019 and 2018 . Valuation techniques and significant unobservable inputs used in the Level 3 fair value measurements were as follows: (in millions) as of September 30, 2019 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Debt securities, trading $ 19.8 Discounted cash flow Discount rate 2.7%–13.3% (6.7%) Risk premium 2.0%–6.1% (4.2%) Life settlement contracts 11.5 Discounted cash flow Life expectancy 19–107 months (57) Discount rate 8.0%–20.0% (13.2%) __________________ 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 September 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: 2019 2018 (in millions) Fair Value Level Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value as of September 30, Financial Assets Cash and cash equivalents 1 $ 5,803.4 $ 5,803.4 $ 6,610.8 $ 6,610.8 Other investments Time deposits 2 15.4 15.4 12.3 12.3 Equity securities 3 17.3 19.2 81.8 103.6 Financial Liability Debt 2 $ 696.9 $ 718.7 $ 695.9 $ 671.1

Property and Equipment

Property and Equipment	12 Months Ended
	Sep. 30, 2019
Property, Plant and Equipment, Net [Abstract]
Property and Equipment	Property and Equipment Property and equipment, net consisted of the following: (in millions) Useful Lives In Years as of September 30, 2019 2018 Furniture, software and equipment $ 846.7 $ 798.6 3 – 10 Premises and leasehold improvements 789.2 628.1 5 – 35 Land 80.1 74.1 N/A Total cost 1,716.0 1,500.8 Less: accumulated depreciation and amortization (1,032.3 ) (965.8 ) Property and Equipment, Net $ 683.7 $ 535.0 Depreciation and amortization expense related to property and equipment was $83.2 million , $78.9 million and $81.5 million in fiscal years 2019 , 2018 and 2017 . The Company recognized $6.6 million of equipment impairment during fiscal year 2018 , and insignificant impairment amounts during fiscal years 2019 and 2017 .

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill and other intangible assets, net consisted of the following: (in millions) as of September 30, 2019 2018 Goodwill $ 2,130.3 $ 1,794.8 Indefinite-lived intangible assets 799.4 530.7 Definite-lived intangible assets, net 64.8 7.9 Goodwill and Other Intangible Assets, Net $ 2,994.5 $ 2,333.4 Changes in the carrying value of goodwill were as follows: (in millions) for the fiscal years ended September 30, 2019 2018 Balance at beginning of year $ 1,794.8 $ 1,687.2 Acquisitions 345.7 117.4 Foreign exchange revaluation and other (10.2 ) (9.8 ) Balance at End of Year $ 2,130.3 $ 1,794.8 During fiscal year 2019 , the Company recognized $9.3 million of impairment of indefinite-lived intangible assets related to Canadian management contracts due to revised estimates of future pre-tax profit margins and AUM growth rates for the associated fund products. No impairment of indefinite-lived intangible assets was recognized during fiscal years 2018 and 2017 , or of goodwill during fiscal years 2019 , 2018 and 2017 . Definite-lived intangible assets were as follows: 2019 2018 (in millions) Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value as of September 30, Management contracts $ 125.4 $ (60.6 ) $ 64.8 $ 54.9 $ (47.0 ) $ 7.9 The Company recognized impairment of definite-lived intangible assets of $4.0 million , $5.7 million and $9.6 million during fiscal years 2019 , 2018 and 2017 primarily due to investor redemptions. Amortization expense related to definite-lived intangible assets was $14.7 million , $1.8 million and $3.9 million for fiscal years 2019 , 2018 and 2017 . Definite-lived intangible assets had a weighted-average remaining useful life of 3.7 years at September 30, 2019 , with estimated remaining amortization expense as follows: (in millions) for the fiscal years ending September 30, Amount 2020 $ 18.9 2021 18.1 2022 16.6 2023 7.4 2024 2.8 Thereafter 1.0 Total $ 64.8

Debt

Debt	12 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt The disclosures below include details of the Company’s debt, excluding that of CIPs. See Note 11 – Consolidated Investment Products for information related to the debt of these entities. Debt consisted of the following: (in millions) 2019 Effective Interest Rate 2018 Effective Interest Rate as of September 30, Senior Notes $300 million 2.80% notes due September 2022 $ 299.8 2.93 % $ 299.7 2.93 % $400 million 2.85% notes due March 2025 399.6 2.97 % 399.6 2.97 % Total senior notes 699.4 699.3 Other Loan due December 2019 0.2 9.30 % — N/A Debt issuance costs (2.7 ) (3.4 ) Total $ 696.9 $ 695.9 At September 30, 2019 , the Company’s outstanding senior unsecured unsubordinated notes had an aggregate face value of $700.0 million . The notes have fixed interest rates with interest payable semi-annually and contain an optional redemption feature that allows the Company to redeem each series of notes prior to maturity in whole or in part at any time, at a make-whole redemption price. The indentures governing the notes contain limitations on the Company’s ability and the ability of its subsidiaries to pledge voting stock or profit participating equity interests in its subsidiaries to secure other debt without similarly securing the notes equally and ratably. The indentures also include requirements that must be met if the Company consolidates or merges with, or sells all or substantially all of its assets to, another entity. The Company was in compliance with all debt covenants at September 30, 2019 . At September 30, 2019 , the Company had $500.0 million of short-term commercial paper available for issuance under an uncommitted private placement program which has been inactive since 2012

Consolidated Investment Product

Consolidated Investment Products	12 Months Ended
	Sep. 30, 2019
Consolidated Investment Products [Abstract]
Consolidated Investment Products	Consolidated Investment Products CIPs consist of mutual and other investment funds, limited partnerships and similar structures, substantially all of which are sponsored by the Company, and include both VOEs and VIEs. The Company had 60 and 53 CIPs as of September 30, 2019 and 2018 . The balances related to CIPs included in the Company’s consolidated balance sheets were as follows: (in millions) as of September 30, 2019 2018 Assets Cash and cash equivalents $ 154.2 $ 299.8 Receivables 99.0 114.2 Investments, at fair value 2,303.9 2,109.4 Other assets — 1.0 Total Assets $ 2,557.1 $ 2,524.4 Liabilities Accounts payable and accrued expenses $ 81.5 $ 68.0 Debt 50.8 32.6 Other liabilities — 9.3 Total liabilities 132.3 109.9 Redeemable Noncontrolling Interests 746.7 1,043.6 Stockholders ’ Equity Franklin Resources, Inc.’s interests 1,129.6 1,092.6 Nonredeemable noncontrolling interests 548.5 278.3 Total stockholders’ equity 1,678.1 1,370.9 Total Liabilities, Redeemable Noncontrolling Interests and Stockholders ’ Equity $ 2,557.1 $ 2,524.4 The CIPs did not have a significant impact on net income attributable to the Company in fiscal years 2019 , 2018 and 2017 . The Company has no right to the CIPs’ assets, other than its direct equity investments in them and investment management and other fees earned from them. The debt holders of the CIPs have no recourse to the Company’s assets beyond the level of its direct investment, therefore the Company bears no other risks associated with the CIPs’ liabilities. Investment products are typically consolidated when the Company makes an initial investment in a newly launched investment entity. They are typically deconsolidated when the Company no longer has a controlling financial interest due to redemptions of its investment or increases in third-party investments. The Company’s investments in these products subsequent to deconsolidation are accounted for as either equity method investments or equity securities at fair value 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 Practical Expedient Total as of September 30, 2019 Assets Investments Debt securities $ 0.1 $ 1,083.6 $ 131.4 $ — $ 1,215.1 Equity securities 195.1 223.9 296.4 204.1 919.5 Real estate — — 152.7 — 152.7 Loans — — 16.6 — 16.6 Total Assets Measured at Fair Value $ 195.2 $ 1,307.5 $ 597.1 $ 204.1 $ 2,303.9 (in millions) Level 1 Level 2 Level 3 NAV as a Practical Expedient 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 The fair value of other liabilities, which consist of short positions in debt and equity securities, is determined based on the fair value of the underlying securities using quoted market prices, or independent third-party broker or dealer price quotes if quoted market prices are not available. 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 4.4 years and 3.5 years at September 30, 2019 and 2018 . The CIPs’ unfunded commitments to these funds totaled $168.7 million and $1.9 million , of which the Company was contractually obligated to fund $20.6 million and $0.4 million based on its ownership percentage in the CIPs, at September 30, 2019 and 2018 . Changes in Level 3 assets were as follows: (in millions) Equity Securities Debt Securities Real Estate Loans Total Level 3 Assets for the fiscal year ended September 30, 2019 Balance at beginning of year $ 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, net 8.0 (13.9 ) 5.0 (3.3 ) (4.2 ) Purchases 155.5 12.0 147.0 9.2 323.7 Sales and settlements (81.4 ) (20.2 ) — (21.6 ) (123.2 ) Transfers into Level 3 0.1 0.4 — — 0.5 Transfers out of Level 3 (25.4 ) (3.6 ) — — (29.0 ) Foreign exchange revaluation (5.3 ) (1.0 ) 0.7 — (5.6 ) Balance at End of Year $ 296.4 $ 131.4 $ 152.7 $ 16.6 $ 597.1 Change in unrealized gains (losses) included in net income relating to assets held at end of year $ (6.3 ) $ (5.7 ) $ 5.0 $ (0.6 ) $ (7.6 ) (in millions) Equity Securities Debt Securities Loans Total Level 3 Assets for the fiscal year ended September 30, 2018 Balance at beginning of year $ 160.7 $ 135.4 $ — $ 296.1 Realized and unrealized gains (losses) included in investment and other income, net 26.2 4.9 (0.7 ) 30.4 Purchases 32.0 16.2 26.0 74.2 Sales and settlements (17.5 ) (39.1 ) — (56.6 ) Consolidation — — 7.0 7.0 Foreign exchange revaluation (1.7 ) 0.6 — (1.1 ) Balance at End of Year $ 199.7 $ 118.0 $ 32.3 $ 350.0 Change in unrealized gains (losses) included in net income relating to assets held at end of year $ 17.3 $ 0.8 $ (0.7 ) $ 17.4 There were no transfers into or out of Level 3 during fiscal year 2018 . Valuation techniques and significant unobservable inputs used in Level 3 fair value measurements were as follows: (in millions) as of September 30, 2019 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Equity securities $ 176.9 Market comparable companies Enterprise value/ 4.5–11.8 (8.1) Discount for lack of marketability 15.0%–30.0% (23.1%) Risk premium 18.9% Enterprise value/ 3.7 97.2 Discounted cash flow Discount rate 4.8%–16.3% (10.3%) Discount for lack of marketability 17.0% 22.3 Market pricing Private sale pricing $0.25–$20.13 ($2.06) per share Debt securities 115.5 Discounted cash flow Discount rate 4.8%–17.4% (9.7%) Discount for lack of marketability 17.0%–24.7% (22.9%) 15.9 Market comparable companies Price-to-earnings ratio 10.0 Enterprise value/ 21.9 Real estate 84.7 Discounted cash flow Discount rate 6.4%–7.4% (7.1%) 68.0 Yield capitalization Equivalent yield 4.3%–6.1% (5.4%) Loans 16.6 Discounted cash flow Loss-adjusted discount rate 3.0%–23.9% (12.0%) __________________ 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 Enterprise value/ 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, other than the discount for lack of marketability and risk premium, were independently higher (lower) as of September 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, as well as the discount for lack of marketability and risk premium in the market-based valuations, were independently higher (lower) as of September 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 2019 2018 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value as of September 30, Financial Asset Cash and cash equivalents 1 $ 154.2 $ 154.2 $ 299.8 $ 299.8 Financial Liability Debt 3 $ 50.8 $ 51.0 $ 32.6 $ 32.4 Debt Debt of CIPs totaled $50.8 million and $32.6 million at September 30, 2019 and 2018 . The debt had fixed and floating interest rates ranging from 2.08% to 7.94% with a weighted-average effective interest rate of 5.09% at September 30, 2019 , and from 3.07% to 7.88% with a weighted-average effective interest rate of 6.79% at September 30, 2018 . The contractual maturities for debt of CIPs at September 30, 2019 were as follows: (in millions) for the fiscal years ending September 30, Amount 2020 $ 23.3 2021 7.5 2022 — 2023 — 2024 20.0 Total $ 50.8 Redeemable Noncontrolling Interests Changes in redeemable noncontrolling interests of CIPs were as follows: (in millions) for the fiscal years ended September 30, 2019 2018 2017 Balance at beginning of year $ 1,043.6 $ 1,941.9 $ 61.1 Adoption of new accounting guidance — — 824.7 Net income (loss) 6.2 (12.8 ) 53.0 Net subscriptions and other 1,046.6 170.9 884.3 Net consolidations (deconsolidations) (1,349.7 ) (1,056.4 ) 118.8 Balance at End of Year $ 746.7 $ 1,043.6 $ 1,941.9

Nonconsolidated Variable Intere

Nonconsolidated Variable Interest Entities	12 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nonconsolidated Variable Interest Entities	Nonconsolidated Variable Interest Entities VIEs for which the Company is not the primary beneficiary consist of sponsored funds and other investment products in which the Company has an equity ownership interest. The Company’s maximum exposure to loss from these VIEs consists of equity investments and investment management and other fee receivables as follows: (in millions) as of September 30, 2019 2018 Investments $ 458.1 $ 161.8 Receivables 149.5 140.1 Total $ 607.6 $ 301.9 While the Company has no legal or 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 fiscal year 2019 . During fiscal year 2018 , the Company purchased $32.6 million of certain equity and debt securities from two sponsored funds.

Taxes on Income

Taxes on Income	12 Months Ended
	Sep. 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 and assessment of a one-time transition tax on the deemed repatriation of post-1986 undistributed foreign subsidiaries’ earnings. The estimated related changes in the Company’s deferred tax assets and deferred tax liabilities resulted in a $35.6 million decrease in deferred tax assets, an $88.9 million decrease in deferred tax liabilities and a $53.3 million net tax benefit in fiscal year 2018 . The Company also reclassified $0.1 million from accumulated other comprehensive loss to retained earnings related to stranded tax effects resulting from the change in tax rate during fiscal year 2018 . The Company completed its analysis of the Tax Act impact during the first quarter of fiscal year 2019 with no significant adjustment to the provisional amounts previously recorded. The estimated transition tax expense recognized in fiscal year 2018 of $983.2 million was net of an $87.6 million tax benefit related to U.S. taxation of deemed foreign dividends. This benefit was reversed during fiscal year 2019 upon issuance of final regulations by the U.S. Department of Treasury, resulting in increased income tax expense and gross unrecognized tax benefits. The remaining federal portion of the transition tax liability was $827.9 million at September 30, 2019 , and will be paid over the next seven years, with 8% of the original liability payable in each of the next four years, 15% in year five, 20% in year six and 25% in year seven. The Tax Act reduced the federal corporate income tax rate from 35% to 21% effective January 1, 2018 . The Company’s federal statutory rate for fiscal year 2018 was a blended rate of 24.5% , based on the pre- and post-Tax Act rates. Prior to the Tax Act, the Company had not provided for U.S. income taxes on undistributed earnings and other outside basis differences of its non-U.S. subsidiaries as it was the Company’s intention for these tax basis differences to remain indefinitely reinvested. Following the Company’s change in policy effective January 1, 2018 to repatriate earnings of substantially all non-U.S. subsidiaries, other outside basis differences, which arose primarily from purchase accounting adjustments, undistributed earnings that are considered indefinitely reinvested and foreign earnings that are restricted by operational and regulatory requirements, remain indefinitely reinvested. These basis differences could reverse through sales of the subsidiaries or the receipt of dividends from the subsidiaries, as well as various other events, none of which are considered probable as of September 30, 2019 . The Company has made no provision for U.S. income taxes on these outside basis differences, and determination of the amount of unrecognized deferred tax liability related to such basis differences is not practicable. Taxes on income were as follows: (in millions) for the fiscal years ended September 30, 2019 2018 2017 Current expense Federal $ 343.4 $ 1,343.7 $ 585.0 State 37.0 38.0 65.3 Non-U.S. 66.8 141.1 100.2 Deferred expense (benefit) (4.9 ) (50.3 ) 8.9 Total $ 442.3 $ 1,472.5 $ 759.4 The Company had a tax shortfall of $8.7 million in fiscal year 2017 associated with stock-based compensation plans, which increased the amount of income taxes that would have otherwise been payable and was reflected as a component of stockholders ’ equity. Income tax effects of stock-based awards are recognized in income tax expense beginning in fiscal year 2018 in accordance with revised accounting guidance. Income before taxes consisted of the following: (in millions) for the fiscal years ended September 30, 2019 2018 2017 U.S. $ 1,151.1 $ 1,458.1 $ 1,594.5 Non-U.S. 496.7 757.1 954.6 Total $ 1,647.8 $ 2,215.2 $ 2,549.1 The Company’s income in certain countries is subject to reduced tax rates due to tax rulings and incentives. The impact of the reduced rates on income tax expense was $4.1 million or $0.01 per diluted share for fiscal year 2019 , $31.3 million or $0.06 per diluted share for fiscal year 2018 , and $28.8 million or $0.05 per diluted share for fiscal year 2017 . One tax incentive remained in effect at September 30, 2019 which will expire in December 2023 . The significant components of deferred tax assets and deferred tax liabilities were as follows: (in millions) as of September 30, 2019 2018 Deferred Tax Assets Deferred compensation and benefits $ 39.7 $ 33.1 Net operating loss carry-forwards 31.9 31.8 Stock-based compensation 19.6 21.9 Unrealized foreign exchange losses 11.0 3.7 Tax benefit for uncertain tax positions 8.7 10.0 Other 21.7 15.0 Total deferred tax assets 132.6 115.5 Valuation allowance (26.9 ) (27.5 ) Deferred tax assets, net of valuation allowance 105.7 88.0 Deferred Tax Liabilities Goodwill and other purchased intangibles 159.5 142.2 Depreciation on fixed assets 22.5 20.9 Investments in partnerships 6.6 16.4 Other 16.4 17.7 Total deferred tax liabilities 205.0 197.2 Net Deferred Tax Liability $ 99.3 $ 109.2 Deferred income tax assets and liabilities that relate to the same tax jurisdiction are presented net on the consolidated balance sheets. The components of the net deferred tax liability were classified in the consolidated balance sheets as follows: (in millions) as of September 30, 2019 2018 Other assets $ 20.8 $ 17.3 Deferred tax liabilities 120.1 126.5 Net Deferred Tax Liability $ 99.3 $ 109.2 At September 30, 2019 , there were $155.0 million of non-U.S. net operating loss carry-forwards, $73.7 million of which expire between fiscal years 2020 and 2038 with the remaining carry-forwards having an indefinite life. In addition, there were $34.8 million in state net operating loss carry-forwards that expire between fiscal years 2020 and 2039 . A partial valuation allowance has been provided to offset the related deferred tax assets due to the uncertainty of realizing the benefit of the net operating loss carry-forwards. The valuation allowance decreased $0.6 million in fiscal year 2019 and increased $2.3 million in fiscal year 2018 . A reconciliation of the amount of tax expense at the federal statutory rate and taxes on income as reflected in the consolidated statements of income is as follows: (in millions) for the fiscal years ended September 30, 2019 2018 2017 Federal taxes at statutory rate $ 346.0 21.0 % $ 542.7 24.5 % $ 892.2 35.0 % Transition tax on deemed repatriation of undistributed foreign earnings 86.0 5.2 % 983.2 44.4 % — — Revaluation of net deferred tax liabilities — — (53.3 ) (2.4 %) — — Other Tax Act impacts 0.4 — 38.9 1.8 % — — State taxes, net of federal tax effect 29.7 1.8 % 16.6 0.7 % 41.4 1.6 % Effect of non-U.S. operations (21.3 ) (1.3 %) (61.9 ) (2.8 %) (146.2 ) (5.7 %) Effect of net (income) loss attributable to noncontrolling interests (2.1 ) (0.1 %) 5.3 0.2 % (32.6 ) (1.3 %) Other 3.6 0.2 % 1.0 0.1 % 4.6 0.2 % Tax Provision $ 442.3 26.8 % $ 1,472.5 66.5 % $ 759.4 29.8 % Other Tax Act impacts consist primarily of foreign dividend distribution taxes and tax withholdings. A reconciliation of the beginning and ending balances of gross unrecognized tax benefits is as follows: (in millions) for the fiscal years ended September 30, 2019 2018 2017 Balance at beginning of year $ 77.5 $ 81.1 $ 82.1 Additions for tax positions of prior years 131.8 3.6 6.6 Reductions for tax positions of prior years (2.9 ) (6.6 ) (1.3 ) Tax positions related to the current year 10.7 11.6 11.6 Settlements with taxing authorities (2.2 ) — (5.2 ) Expirations of statute of limitations (12.3 ) (12.2 ) (12.7 ) Balance at End of Year $ 202.6 $ 77.5 $ 81.1 If recognized, the balance, net of any deferred tax benefits, would favorably affect the Company’s effective income tax rate in future periods. Accrued interest on uncertain tax positions at September 30, 2019 and 2018 was $11.9 million and $11.3 million , and is not presented in the unrecognized tax benefits table above. Interest expense of $0.7 million , $0.9 million and $1.6 million was recognized during fiscal years 2019 , 2018 and 2017 . Accrued penalties at September 30, 2019 and 2018 were insignificant. The Company files a consolidated U.S. federal income tax return, multiple U.S. state and local income tax returns, and income tax returns in multiple non-U.S. jurisdictions. The Company is subject to examination by the taxing authorities in these jurisdictions. The Company’s major tax jurisdictions and the tax years for which the statutes of limitations have not expired are as follows: India 2003 to 2019 ; Canada 2011 to 2019 ; Hong Kong 2013 to 2019 ; Singapore 2014 to 2019 ; Luxembourg and the U.K. 2018 to 2019 ; U.S. federal 2016 to 2019 ; the States of Florida and Minnesota, and City of New York 2015 to 2019 ; and the States of California, Massachusetts and New York 2016 to 2019 . The Company has ongoing examinations in various stages of completion in the State of Florida, City of New York, Canada, France, Germany and India. Examination outcomes and the timing of settlements are subject to significant uncertainty. Such settlements may involve some or all of the following: the payment of additional taxes, the adjustment of deferred taxes and/or the recognition of unrecognized tax benefits. The Company has recognized a tax benefit only for those positions that meet the more-likely-than-not recognition threshold. It is reasonably possible that the total unrecognized tax benefit as of September 30, 2019 could decrease by an estimated $13.9 million within the next twelve months as a result of the expiration of statutes of limitations in the U.S. federal and certain U.S. state and local and non-U.S. tax jurisdictions, and potential settlements with U.S. states and non-U.S. taxing authorities.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Sep. 30, 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, which were later consolidated, relating to the Franklin Templeton 401(k) Retirement Plan (“Plan”). The consolidated action named as defendants Franklin, the Plan’s fiduciary committees and certain committee members, and the Franklin Board of Directors and certain individual directors. The plaintiffs principally claimed 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 as investment options for the Plan, when allegedly lower cost and better performing third-party investment options were available, and further challenged the Plan’s record keeping fees as excessive. On December 3, 2018, Franklin elected to enter into an agreement-in-principle to resolve the litigation for a cash payment of $13.9 million , which the Company accrued, and, among other Plan changes, an increase in the Company’s existing matching contribution rate from 75% to 85% for eligible participant contributions for a period of three years. On October 4, 2019, the court issued final approval of the agreement and dismissed the litigation. The Company is from time to time involved in other litigation relating to claims arising in the normal course of business. Management is of the opinion that the ultimate resolution of such claims will not materially affect the Company ’ s business, financial position, results of operations or liquidity. In management ’ s opinion, an adequate accrual has been made as of September 30, 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 The Company leases office space and equipment under operating leases expiring at various dates through fiscal year 2032 . Lease expense was $61.7 million , $55.9 million and $56.3 million in fiscal years 2019 , 2018 and 2017 . Sublease income totaled $0.3 million , $0.2 million and $0.4 million in fiscal years 2019 , 2018 and 2017 . Future minimum lease payments under long-term non-cancelable operating leases were as follows as of September 30, 2019 : (in millions) for the fiscal years ending September 30, Amount 2020 $ 49.5 2021 45.3 2022 40.9 2023 39.1 2024 36.7 Thereafter 149.1 Total Minimum Lease Payments $ 360.6 Future minimum rentals to be received under non-cancelable subleases were insignificant at September 30, 2019 . While the Company has no legal or contractual obligation to do so, it routinely makes cash investments in the course of launching sponsored funds. At September 30, 2019 , the Company had $267.8 million of committed capital contributions which relate to discretionary commitments to invest in sponsored funds and other investment products and entities. These unfunded commitments are not recorded in the Company ’ s consolidated balance sheet.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Sep. 30, 2019
Share-based Compensation [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company’s stock-based compensation plans consist of the Amended and Restated Annual Incentive Compensation Plan (the “AIP”), the 2002 Universal Stock Incentive Plan, as amended and restated (the “USIP”) and the amended and restated Franklin Resources, Inc. 1998 Employee Stock Investment Plan (the “ESIP”). The Compensation Committee of the Board of Directors determines the terms and conditions of awards under the AIP, the USIP and the ESIP. Stock-based compensation expenses were as follows: (in millions) for the fiscal years ended September 30, 2019 2018 2017 Stock and stock unit awards $ 105.7 $ 111.6 $ 117.0 Employee stock investment plan 5.8 6.2 6.4 Total $ 111.5 $ 117.8 $ 123.4 Stock and Stock Unit Awards Under the terms of the AIP, eligible employees may receive cash, equity awards and/or mutual fund unit awards generally based on the performance of the Company and/or its funds, and the individual employee. The USIP provides for the issuance of the Company’s common stock for various stock-related awards to officers, directors and employees. There are 120.0 million shares authorized under the USIP, of which 14.3 million shares were available for grant at September 30, 2019 . Stock awards entitle holders to the right to sell the underlying shares of the Company’s common stock once the awards vest. Stock unit awards entitle holders to receive the underlying shares of common stock once the awards vest. Awards vest based on the passage of time or the achievement of predetermined Company financial performance goals. Stock and stock unit award activity was as follows: (shares in thousands) Time-Based Shares Performance- Based Shares Total Shares Weighted-Average Grant-Date Fair Value for the fiscal year ended September 30, 2019 Nonvested balance at September 30, 2018 2,678 1,813 4,491 $ 39.08 Granted 3,906 897 4,803 30.75 Vested (2,347 ) (606 ) (2,953 ) 35.80 Forfeited/canceled (459 ) (250 ) (709 ) 36.23 Nonvested balance at September 30, 2019 3,778 1,854 5,632 $ 34.06 Total unrecognized compensation expense related to nonvested stock and stock unit awards was $131.0 million at September 30, 2019 . This expense is expected to be recognized over a remaining weighted-average vesting period of 1.8 years . The weighted-average grant-date fair values of stock awards and stock unit awards granted during fiscal years 2019 , 2018 and 2017 were $30.75 , $42.63 and $34.23 per share. The total fair value of stock and stock unit awards vested during the same periods was $84.2 million , $91.5 million and $104.0 million . The Company generally does not repurchase shares upon vesting of stock and stock unit awards. However, in order to pay taxes due in connection with the vesting of employee and executive officer stock and stock unit awards, shares are repurchased using a net stock issuance method. Employee Stock Investment Plan The ESIP allows eligible participants to buy shares of the Company’s common stock at a discount of its market value on defined dates. A total of 0.9 million shares were issued under the ESIP during fiscal year 2019 , and 1.9 million shares were reserved for future issuance at September 30, 2019 .

Defined Contribution Plans

Defined Contribution Plans	12 Months Ended
	Sep. 30, 2019
Retirement Benefits [Abstract]
Defined Contribution Plans	Defined Contribution Plans The Company sponsors a 401(k) plan which covers substantially all U.S. employees meeting certain employment requirements. Participants may contribute up to 50% of their eligible salary and up to 100% of the cash portion of their year-end bonus, as defined by the plan and subject to Internal Revenue Code limitations, each year to the plan. The Company makes a matching contribution equal to 75% of eligible compensation contributed by participants. Under the terms of a litigation settlement, the Company will increase its matching contribution rate from 75% to 85% for a period of three years beginning January 1, 2020. See Note 14 – Commitments and Contingencies for information related to the litigation. Certain of the Company ’ s non-U.S. subsidiaries also sponsor defined contribution plans primarily for the purpose of providing deferred compensation incentives for employees and to comply with local regulatory requirements. The total expenses recognized for defined contribution plans were $52.2 million , $49.8 million and $45.5 million for fiscal years 2019 , 2018 and 2017 .

Segment and Geographic Informat

Segment and Geographic Information	12 Months Ended
	Sep. 30, 2019
Segment Reporting, Measurement Disclosures [Abstract]
Segment and Geographic Information	Segment and Geographic Information The Company has one operating segment, investment management and related services. Geographic information was as follows: (in millions) for the fiscal years ended September 30, 2019 2018 2017 Operating Revenues United States $ 3,487.6 $ 3,693.2 $ 3,870.6 Luxembourg 1,533.7 1,732.5 1,654.8 Americas excluding United States 392.3 478.4 483.3 Asia-Pacific 257.0 299.7 282.6 Europe, Middle East and Africa, excluding Luxembourg 103.9 115.3 100.9 Total $ 5,774.5 $ 6,319.1 $ 6,392.2 (in millions) as of September 30, 2019 2018 2017 Property and Equipment, Net United States $ 542.8 $ 465.4 $ 426.1 Europe, Middle East and Africa 90.0 10.1 12.2 Asia-Pacific 40.7 42.1 60.2 Americas excluding United States 10.2 17.4 18.7 Total $ 683.7 $ 535.0 $ 517.2

Other Income (Expenses)

Other Income (Expenses)	12 Months Ended
	Sep. 30, 2019
Other Income and Expenses [Abstract]
Other Income (Expenses)	Other Income (Expenses) Other income (expenses) consisted of the following: (in millions) for the fiscal years ended September 30, 2019 2018 2017 Investment and Other Income, Net Dividend income $ 97.0 $ 51.1 $ 13.9 Interest income 31.0 76.5 74.9 Gains (losses) on investments, net (9.7 ) 6.0 23.6 Income (losses) from investments in equity method investees (10.4 ) 44.4 107.9 Gains (losses) on investments of CIPs, net (26.3 ) (55.0 ) 118.2 Rental income 19.8 15.9 11.1 Foreign currency exchange gains (losses), net 13.1 0.6 (16.0 ) Other, net 0.6 5.8 2.7 Total 115.1 145.3 336.3 Interest Expense (24.7 ) (48.7 ) (51.5 ) Other Income, Net $ 90.4 $ 96.6 $ 284.8 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 other-than-temporary impairment of investments and realized and unrealized gains (losses) on equity securities measured at fair value and trading debt securities. There were no sales of available-for-sale securities in fiscal year 2019 . Proceeds from the sale of available-for-sale securities were $85.5 million and $51.6 million in fiscal years 2018 and 2017 . Net losses recognized on equity securities measured at fair value and trading debt securities that were held by the Company at September 30, 2019 were $0.1 million , and net gains (losses) recognized on trading investment securities that were held by the Company at September 30, 2018 and 2017 were $(1.7) million and $5.0 million . Net gains (losses) recognized on investment securities of CIPs that were held at September 30, 2019 , 2018 and 2017 were $1.0 million , $(24.5) million and $21.9 million .

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Sep. 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 fiscal year ended September 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 (53.9 ) (2.4 ) (5.4 ) (61.7 ) Reclassifications to compensation and benefits expense, net of tax — 0.4 — 0.4 Reclassifications to net investment and other income, net of tax 1.4 — 6.9 8.3 Total other comprehensive income (loss) (52.5 ) (2.0 ) 1.5 (53.0 ) Balance at September 30, 2019 $ (425.4 ) $ (6.2 ) $ — $ (431.6 ) (in millions) Currency Translation Adjustments Unrealized Unrealized Total for the fiscal year ended September 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 (85.5 ) 1.5 7.3 (76.7 ) Reclassifications to compensation and benefits expense, net of tax — 0.4 — 0.4 Reclassifications to net investment and other income, net of tax (6.4 ) — (3.0 ) (9.4 ) Total other comprehensive income (loss) (91.9 ) 1.9 4.3 (85.7 ) Balance at September 30, 2018 $ (372.9 ) $ (4.2 ) $ 6.5 $ (370.6 )

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Business	Business. Franklin Resources, Inc. (“Franklin”) is a holding company that, together with its subsidiaries (collectively, the “Company”), operates as Franklin Templeton. The Company provides investment management and related services in jurisdictions worldwide for investors in investment products which include sponsored funds, as well as institutional and high-net-worth separate accounts. In addition to investment management, the Company ’ s services include fund administration, sales and distribution, and shareholder servicing.
Basis of Presentation	Basis of Presentation. The consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America, which require the use of estimates, judgments and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the periods presented. Management believes that the accounting estimates are appropriate and the resulting balances are reasonable; however, due to the inherent uncertainties in making estimates, actual amounts may differ from these estimates. Certain comparative amounts for prior fiscal years have been reclassified to conform to the financial statement presentation as of and for the fiscal year ended September 30, 2019 (“fiscal year 2019 ”).
Consolidation	Consolidation. The consolidated financial statements include the accounts of Franklin and its subsidiaries and consolidated investment products (“CIPs”) in which it has a controlling financial interest. The Company has a controlling financial interest when it owns a majority of the voting interest in a voting interest entity (“VOE”) or is the primary beneficiary of a variable interest entity (“VIE”). Intercompany accounts and transactions have been eliminated. A VIE is an entity in which the equity investment holders have not contributed sufficient capital to finance its activities or do not have defined rights and obligations normally associated with an equity investment. Substantially all of the Company ’ s VIEs are investment products, and its variable interests consist of its equity ownership interests in and investment management fees earned from these products. The Company is the primary beneficiary of a VIE if it has the power to direct the activities that most significantly impact the VIE ’ s economic performance and the obligation to absorb losses of or right to receive benefits from the VIE that could potentially be significant to the VIE. Investment management fees earned from VIEs are excluded from the primary beneficiary determination if they are deemed to be at market and commensurate with service. The key estimates and assumptions used in the analyses include the amount of assets under management (“AUM”) and the life of the investment product.
Related Parties	Related Parties include sponsored funds and equity method investees. A substantial amount of the Company ’ s operating revenues and receivables are from related parties.
Earnings per Share	Earnings per Share . Basic and diluted earnings per share are computed using the two-class method, which considers participating securities as a separate class of shares. The Company ’ s participating securities consist of its nonvested stock and stock unit awards that contain nonforfeitable rights to dividends or dividend equivalents. Basic earnings per share is computed by dividing net income available to the Company ’ s common stockholders, adjusted to exclude earnings allocated to participating securities, by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share is computed on the basis of the weighted-average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period.
Business combinations	Business combinations are accounted for by recognizing the acquired assets, including separately identifiable intangible assets, and assumed liabilities at their acquisition-date estimated fair values. Any excess of the purchase consideration over the acquisition-date fair values of these identifiable assets and liabilities is recognized as goodwill. During the measurement period, which is not to exceed one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed due to new information about facts that existed as of the acquisition date, with the corresponding offset to goodwill. Upon the conclusion of the measurement period, any subsequent adjustments are recorded in earnings. Intangible assets acquired in business combinations consist of investment management contracts. The fair values of the acquired assets are based on the net present value of estimated future cash flows attributable to the contracts, which include significant assumptions about forecasts of the AUM growth rate, pre-tax profit margin, average effective fee rate, effective tax rate and discount rate. The intangible assets are amortized over their estimated useful lives, which range from three to 15 years , using the straight-line method, unless the asset is determined to have an indefinite useful life. Indefinite-lived intangible assets represent contracts to manage investment assets for which there is no foreseeable limit on the contract period. Goodwill and indefinite-lived intangible assets are tested for impairment annually as of August 1 and when an event occurs or circumstances change that more likely than not reduce the fair value of the related reporting unit or indefinite-lived intangible asset below its carrying value. The Company has one reporting unit, investment management and related services, consistent with its single operating segment, to which all goodwill has been assigned. Amortization and impairment are recognized in general, administrative and other expense. Goodwill and indefinite-lived intangible assets may first be assessed for qualitative factors to determine whether it is necessary to perform a quantitative impairment test. The qualitative analysis considers entity-specific and macroeconomic factors and their potential impact on the key assumptions used in the determination of the fair value of the reporting unit or indefinite-lived intangible asset. A quantitative impairment test is performed if the results of the qualitative assessment indicate that it is more likely than not that the fair value of the reporting unit is less than its carrying value or an indefinite-lived intangible asset is impaired, or if a qualitative assessment is not performed. If a quantitative goodwill impairment test indicates that the carrying value of the goodwill exceeds the fair value of the reporting unit, impairment is recognized in the amount of the excess of the carrying value over the implied fair value of the goodwill, which considers the fair value assigned to all other assets and liabilities of the reporting unit. If a quantitative indefinite-lived intangible assets impairment test indicates that the carrying value of the asset exceeds the fair value, impairment is recognized in the amount of the difference in values. The fair values of the reporting unit and indefinite-lived intangible assets are based on the net present value of estimated future cash flows, which include assumptions about the AUM growth rate, pre-tax profit margin, average effective fee rate, effective tax rate and discount rate. Definite-lived intangible assets are tested for impairment quarterly. Impairment is indicated when the carrying value of an asset is not recoverable and exceeds its fair value. Recoverability is evaluated based on estimated undiscounted future cash flows using assumptions about the AUM growth rate, pre-tax profit margin, average effective fee rate and expected useful lives. If the carrying value of an asset is not recoverable through undiscounted cash flows, impairment is recognized in the amount by which the carrying value exceeds the asset’s fair value, as determined by discounted cash flows or other methods as appropriate for the asset type.
Fair Value Measurements	Fair Value Measurements. The Company uses a three-level fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value based on whether the inputs to those valuation techniques are observable or unobservable. The three levels of fair value hierarchy are set forth below. The assessment of the hierarchy level of the assets or liabilities measured at fair value is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities, which may include published net asset values (“NAV”) for fund products. Level 2 Observable inputs other than Level 1 quoted prices, such as non-binding quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs other than quoted prices that are observable or corroborated by observable market data. Level 2 quoted prices are generally obtained from two independent third-party brokers or dealers, including prices derived from model-based valuation techniques for which the significant assumptions are observable in the market or corroborated by observable market data. Quoted prices are validated through price variance analysis, subsequent sales testing, stale price review, price comparison across pricing vendors and due diligence reviews of third-party vendors. Level 3 Unobservable inputs that are supported by little or no market activity. These inputs require significant management judgment and reflect the Company’s estimation of assumptions that market participants would use in pricing the asset or liability. Quoted market prices may be adjusted if events occur, such as significant price changes in proxies traded in relevant markets after the close of corresponding markets, trade halts or suspensions, or unscheduled market closures. These proxies consist of correlated country-specific exchange-traded securities, such as futures, American Depositary Receipts indices or exchange-traded funds. The price adjustments are primarily determined based on third-party factors derived from model-based valuation techniques for which the significant assumptions are observable in the market. A substantial amount of the Company’s investments is recorded at fair value or amounts that approximate fair value on a recurring basis. Investments in fund products for which fair value is estimated using NAV as a practical expedient (when the NAV is available to the Company as an investor but is not publicly available) are not classified in the fair value hierarchy. Fair values are estimated for disclosure purposes for financial instruments that are not measured at fair value.
Cash and Cash Equivalents	Cash and Cash Equivalents primarily consist of nonconsolidated sponsored money market funds and deposits with financial institutions and are carried at cost. Due to the short-term nature and liquidity of these financial instruments, their carrying values approximate fair value. The Company maintains cash and cash equivalents with financial institutions in various countries, limits the amount of credit exposure with any given financial institution and conducts ongoing evaluations of the creditworthiness of the financial institutions with which it does business.
Receivables	Receivables consist primarily of fees receivable from investment products and are carried at invoiced amounts. Due to the short-term nature and liquidity of the receivables, their carrying values approximate fair value.
Investments	Investments consist of equity securities measured at fair value, debt securities, investments in equity method investees and other investments. At September 30, 2018 , prior to the adoption of new accounting guidance, investments in equity securities with a readily determinable fair value were classified as either trading or available-for-sale and investments in fund products without a published NAV were carried at cost. Equity Securities, at fair value consist primarily of nonconsolidated sponsored funds and to a lesser extent, other equity investment securities. Changes in the fair value of the investments are recognized as gains and losses in earnings. The fair values of funds are determined based on their published NAV or estimated using NAV as a practical expedient. The fair values of equity securities other than funds are determined using independent third-party broker or dealer price quotes or based on discounted cash flows using significant unobservable inputs. Debt Securities consist of trading and available-for-sale securities and are carried at fair value. Changes in the fair value of trading securities are recognized as gains and losses in earnings. Unrealized gains and losses on available-for-sale securities are recorded net of tax as part of accumulated other comprehensive income (loss) until realized, at which time they are recognized in earnings using the average cost method. The fair values of debt securities are determined using independent third-party broker or dealer price quotes, or based on discounted cash flows using significant unobservable inputs. Investments in Equity Method Investees consist of equity investments in entities, including sponsored funds, over which the Company is able to exercise significant influence, but not control. Significant influence is generally considered to exist when the Company ’ s ownership interest in the investee is between 20% and 50%, although other factors, such as representation on the investee ’ s board of directors and the impact of commercial arrangements, also are considered in determining whether the equity method of accounting is appropriate. Investments in limited partnerships and limited liability companies are accounted for using the equity method when the Company ’ s investment is more than minor or when the Company is the general partner. Under the equity method of accounting, the investments are initially carried at cost and subsequently adjusted by the Company ’ s proportionate share of the entities ’ net income, which is recognized in earnings. Other Investments consist of equity investments in entities over which the Company is unable to exercise significant influence and do not have a readily determinable fair value, time deposits with maturities greater than three months from the date of purchase, and life settlement contracts. The equity investments are measured at cost adjusted for observable price changes and impairment, if any, which are recognized in earnings. The fair value of the entities is generally estimated using significant unobservable inputs in either a market-based or income-based approach. The time deposits are carried at cost, which approximates fair value due to their short-term nature and liquidity. Life settlement contracts are carried at fair value, which is determined based on discounted cash flows using significant unobservable inputs. Impairment of Investments. Investments in available-for-sale securities, equity method investees and equity investments that do not have a readily determinable fair value are evaluated for impairment on a quarterly basis. The evaluation of equity investments considers qualitative factors, including the financial condition and specific events related to an investee, that may indicate the fair value of the investment is less than its carrying value. Impairment of equity securities is recognized in earnings. Available-for-sale debt securities are evaluated for other-than-temporary impairment when the cost of an investment exceeds its fair value. If the Company intends to sell or it is more likely than not that it will be required to sell a security before recovery of its amortized cost, the entire impairment is recognized in earnings. If the Company does not intend to sell or it is not more likely than not that it will be required to sell the security before anticipated recovery of its amortized cost, the impairment related to credit loss, which is the difference between the security ’ s amortized cost and the present value of its expected cash flows, is recognized in earnings with the remaining loss recognized in accumulated other comprehensive income (loss).
Cash and Cash Equivalents of CIPs	Cash and Cash Equivalents of CIPs consist of highly liquid investments, including money market funds, which are readily convertible into cash, and deposits with financial institutions, and are carried at cost. Due to the short-term nature and liquidity of these financial instruments, their carrying values approximate fair value.
Receivables of CIPs	Receivables of CIPs consist of investment and share transaction related receivables and are carried at transacted amounts. Due to the short-term nature and liquidity of the receivables, their carrying values approximate fair value.
Investments of CIPs	Investments of CIPs consist of marketable debt and equity securities and other investments that are not generally traded in active markets, and are carried at fair value. Changes in the fair value of the investments are recognized as gains and losses in earnings. The fair values of marketable securities are determined using quoted market prices, or independent third-party broker or dealer price quotes if quoted market prices are not available. The investments that are not generally traded in active markets consist of equity and debt securities of entities in emerging markets, fund products, other equity and debt instruments, real estate and loans. The fair values are determined using significant unobservable inputs in either a market-based or income-based approach, except for fund products, for which fair values are estimated using NAV as a practical expedient.
Property and Equipment, net	Property and Equipment, net are recorded at cost and depreciated using the straight-line method over their estimated useful lives which range from three to 35 years. Expenditures for repairs and maintenance are charged to expense when incurred. Leasehold improvements are amortized using the straight-line method over their estimated useful lives or the lease term, whichever is shorter. Internal and external costs incurred in connection with developing or obtaining software for internal use are capitalized and amortized over the shorter of the estimated useful lives of the software or the license terms, beginning when the software project is complete and the application is put into production. Property and equipment are tested for impairment when there is an indication that the carrying value of an asset may not be recoverable. Carrying values are not recoverable when the undiscounted cash flows estimated to be generated by the assets are less than their carrying values. When an asset is determined to not be recoverable, the impairment is measured based on the excess, if any, of the carrying value of the asset over its respective fair value. Fair value is determined by discounted future cash flows models, appraisals or other applicable methods.
Deferred Sales Commissions	Deferred Sales Commissions consist of upfront commissions paid to financial advisers and broker-dealers on shares of sponsored funds sold without a front-end sales charge, and are amortized over the periods in which they are generally recovered from related revenues, which range from 18 months to six years . Deferred sales commissions are included in other assets in the consolidated balance sheet.
Debt	Debt consists almost entirely of senior notes which are carried at amortized cost. The fair value is estimated using quoted market prices, independent third-party broker or dealer price quotes, or prices of publicly traded debt with similar maturities, credit risk and interest rates.
Debt of CIPs	Debt of CIPs is carried at amortized cost. The fair value is estimated using a discounted cash flow model that considers current interest rate levels, the quality of the underlying collateral and current economic conditions.
Contingent Consideration Liability	Contingent Consideration Liability consisted of the expected future payments related to the Company’s commitment to acquire the remaining interests in K2 Advisors Holdings, LLC and was included in other liabilities in the consolidated balance sheet as of September 30, 2018
Noncontrolling Interests	Noncontrolling Interests relate almost entirely to CIPs. Noncontrolling interests that are currently redeemable or convertible for cash or other assets at the option of the holder are classified as temporary equity. Nonredeemable noncontrolling interests are classified as a component of equity. Net income (loss) attributable to third-party investors is reflected as net income (loss) attributable to nonredeemable and redeemable noncontrolling interests in the consolidated statements of income. Sales and redemptions of shares of CIPs by third-party investors are a component of the change in noncontrolling interests included in financing activities in the consolidated statements of cash flows.
Revenues	Revenues . 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 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 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.
Stock-Based Compensation	Stock-Based Compensation. The fair value of stock-based payment awards is estimated on the date of grant based on the market price of the underlying shares of the Company ’ s common stock and is amortized to compensation expense on a straight-line basis over the related vesting period, which is generally three years . Expense relating to awards subject to performance conditions is recognized if it is probable that the conditions will be achieved. The probability of achievement is assessed on a quarterly basis. Forfeitures are accounted for as they occur.
Postretirement Benefits	Postretirement Benefits . Defined contribution plan costs are expensed as incurred.
Income Taxes	Income Taxes. Deferred tax assets and liabilities are recorded for temporary differences between the tax basis of assets and liabilities and the reported amounts in the consolidated financial statements using the statutory tax rates in effect for the year when the reported amount of the asset or liability is expected to be recovered or settled, respectively. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income tax expense in the period that includes the enactment date. A valuation allowance is recorded to reduce the carrying values of deferred tax assets to the amount that is more likely than not to be realized. For each tax position taken or expected to be taken in a tax return, the Company determines whether it is more likely than not that the position will be sustained upon examination based on the technical merits of the position, including resolution of any related appeals or litigation. A tax position that meets the more likely than not recognition threshold is measured at the largest amount of benefit that is greater than 50% likely of being realized upon settlement. Interest on tax matters is recognized in interest expense and penalties in other operating expenses. As a multinational corporation, the Company operates in various locations outside the U.S. and generates earnings worldwide. The Company repatriates the earnings in excess of regulatory, capital or operational requirements of substantially all of its non-U.S. subsidiaries. Prior to January 1, 2018, the Company indefinitely reinvested the undistributed earnings of all its non-U.S. subsidiaries, except for income previously taxed in the U.S. or subject to regulatory or legal repatriation restrictions or requirements.
Foreign Currency Translation and Transactions	Foreign Currency Translation and Transactions. Assets and liabilities of non-U.S. subsidiaries for which the local currency is the functional currency are translated at current exchange rates as of the end of the accounting period. The related revenues and expenses are translated at average exchange rates in effect during the period. Net exchange gains and losses resulting from translation are excluded from income and are recorded as part of accumulated other comprehensive income (loss). Transactions denominated in a foreign currency are revalued at the current exchange rate at the transaction date and any related gains and losses are recognized in earnings.

New Accounting Guidance (Tables

New Accounting Guidance (Tables)	12 Months Ended
	Sep. 30, 2019
Accounting Changes and Error Corrections [Abstract]
Adoption impact in Consolidated Statements of Income	Individual line items in the consolidated statements of income were impacted as follows: (in millions) As Reported Adoption Impact Amount Without Adoption for the fiscal year ended September 30, 2019 Operating Revenues Investment management fees $ 3,985.2 $ 59.6 $ 4,044.8 Sales and distribution fees 1,444.6 (59.6 ) 1,385.0 Shareholder servicing fees 216.3 (8.6 ) 207.7 Operating Expenses General, administrative and other $ 420.7 $ (8.6 ) $ 412.1

Acquisition (Tables)

Acquisition (Tables)	12 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Schedule of initial and revised allocation of estimated fair values	The initial and revised estimated fair values of the assets acquired and liabilities and noncontrolling interests assumed were as follows: (in millions) Initial Estimated Fair Value Adjustments Revised Estimated Fair Value as of February 1, 2019 Cash $ 33.2 $ — $ 33.2 Investments 138.8 — 138.8 Investments of consolidated investment products 84.9 — 84.9 Indefinite-lived intangible assets 307.5 (27.4 ) 280.1 Definite-lived intangible assets 75.8 — 75.8 Goodwill 315.8 29.9 345.7 Other assets 35.7 (0.5 ) 35.2 Other liabilities (58.2 ) 0.7 (57.5 ) Nonredeemable noncontrolling interests (216.1 ) — (216.1 ) Total Identifiable Net Assets $ 717.4 $ 2.7 $ 720.1

Earnings per Share (Tables)

Earnings per Share (Tables)	12 Months Ended
	Sep. 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) for the fiscal years ended September 30, 2019 2018 2017 Net income attributable to Franklin Resources, Inc. $ 1,195.7 $ 764.4 $ 1,696.7 Less: allocation of earnings to participating nonvested stock and stock unit awards 10.9 17.6 12.4 Net Income Available to Common Stockholders $ 1,184.8 $ 746.8 $ 1,684.3 Weighted-average shares outstanding – basic 503.6 537.4 558.8 Dilutive effect of nonparticipating nonvested stock unit awards 0.7 0.6 0.3 Weighted-Average Shares Outstanding – Diluted 504.3 538.0 559.1 Earnings per Share Basic $ 2.35 $ 1.39 $ 3.01 Diluted 2.35 1.39 3.01

Revenues (Tables)

Revenues (Tables)	12 Months Ended
	Sep. 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 fiscal year ended Investment management fees $ 2,260.6 $ 1,064.7 $ 325.4 $ 241.8 $ 92.7 $ — $ 3,985.2 Sales and distribution fees 941.3 437.2 63.3 1.3 1.5 — 1,444.6 Shareholder servicing fees 175.7 30.1 0.1 10.4 — — 216.3 Other 18.6 1.5 — 1.0 2.2 105.1 128.4 Total $ 3,396.2 $ 1,533.5 $ 388.8 $ 254.5 $ 96.4 $ 105.1 $ 5,774.5 __________________ 1 Consists of interest and dividend income from consolidated investment products.

Investments (Tables)

Investments (Tables)	12 Months Ended
	Sep. 30, 2019
Investments [Abstract]
Summary of investments	Investments consisted of the following: (in millions) as of September 30, 2019 Equity securities, at fair value Sponsored funds $ 466.4 Other equity securities 63.6 Total equity securities, at fair value 530.0 Debt securities Trading 44.2 Available-for-sale 4.0 Total debt securities 48.2 Investments in equity method investees 933.4 Other investments 44.2 Total $ 1,555.8 (in millions) as of September 30, 2018 Investment securities, trading Sponsored funds $ 248.1 Debt and other equity securities 97.6 Total investment securities, trading 345.7 Investment securities, available-for-sale Sponsored funds 178.6 Debt and other equity securities 15.5 Total investment securities, available-for-sale 194.1 Investments in equity method investees 780.8 Other investments 105.9 Total $ 1,426.5
Summary of gross unrealized gains and losses relating to investment securities, available-for-sale	Gross unrealized gains and losses relating to investment securities, available-for-sale were as follows: Gross Unrealized (in millions) Cost Basis Gains Losses Fair Value as of September 30, 2019 Debt securities $ 4.0 $ — $ — $ 4.0 as of September 30, 2018 Sponsored funds $ 172.9 $ 8.3 $ (2.6 ) $ 178.6 Debt and other equity securities 16.8 0.5 (1.8 ) 15.5 Total $ 189.7 $ 8.8 $ (4.4 ) $ 194.1
Summary of gross unrealized losses and fair values of investment securities in a continuous unrealized loss position	There were no gross unrealized losses relating to investment securities, available-for-sale at September 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: Less Than 12 Months 12 Months or Greater Total (in millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses as of 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)	12 Months Ended
	Sep. 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 Total as of September 30, 2019 Assets Equity securities, at fair value Sponsored funds $ 397.0 $ — $ — $ 69.4 $ 466.4 Other equity securities 22.6 3.2 0.8 37.0 63.6 Debt securities Trading — 24.4 19.8 — 44.2 Available-for-sale — 4.0 — — 4.0 Life settlement contracts — — 11.5 — 11.5 Total Assets Measured at Fair Value $ 419.6 $ 31.6 $ 32.1 $ 106.4 $ 589.7 (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 Contingent Consideration Liability Investments Contingent Consideration Liability for the fiscal years ended September 30, Balance at beginning of year $ 32.6 $ (38.7 ) $ 199.9 $ (51.0 ) Total realized and unrealized gains (losses) Included in investment and other income, net 7.0 — 4.5 — Included in general, administrative and other expense — (2.0 ) — (13.1 ) Purchases 10.7 — 14.5 — Sales (6.5 ) — (2.6 ) — Settlements (4.6 ) 40.7 (174.0 ) 32.4 Transfers out of Level 3 (7.1 ) — — — Foreign exchange revaluation and other — — (9.7 ) (7.0 ) Balance at End of Year $ 32.1 $ — $ 32.6 $ (38.7 ) Change in unrealized gains (losses) included in net income relating to assets and liability held at end of year $ 3.4 $ — $ 2.1 $ (13.1 )
Schedule of valuation techniques and significant unobservable inputs used in Level 3 fair value measurements	Valuation techniques and significant unobservable inputs used in the Level 3 fair value measurements were as follows: (in millions) as of September 30, 2019 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Debt securities, trading $ 19.8 Discounted cash flow Discount rate 2.7%–13.3% (6.7%) Risk premium 2.0%–6.1% (4.2%) Life settlement contracts 11.5 Discounted cash flow Life expectancy 19–107 months (57) Discount rate 8.0%–20.0% (13.2%) __________________ 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: 2019 2018 (in millions) Fair Value Level Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value as of September 30, Financial Assets Cash and cash equivalents 1 $ 5,803.4 $ 5,803.4 $ 6,610.8 $ 6,610.8 Other investments Time deposits 2 15.4 15.4 12.3 12.3 Equity securities 3 17.3 19.2 81.8 103.6 Financial Liability Debt 2 $ 696.9 $ 718.7 $ 695.9 $ 671.1

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Sep. 30, 2019
Property, Plant and Equipment, Net [Abstract]
Summary of property and equipment	Property and equipment, net consisted of the following: (in millions) Useful Lives In Years as of September 30, 2019 2018 Furniture, software and equipment $ 846.7 $ 798.6 3 – 10 Premises and leasehold improvements 789.2 628.1 5 – 35 Land 80.1 74.1 N/A Total cost 1,716.0 1,500.8 Less: accumulated depreciation and amortization (1,032.3 ) (965.8 ) Property and Equipment, Net $ 683.7 $ 535.0

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill and other intangible assets	Goodwill and other intangible assets, net consisted of the following: (in millions) as of September 30, 2019 2018 Goodwill $ 2,130.3 $ 1,794.8 Indefinite-lived intangible assets 799.4 530.7 Definite-lived intangible assets, net 64.8 7.9 Goodwill and Other Intangible Assets, Net $ 2,994.5 $ 2,333.4
Schedule of changes in carrying value of goodwill	Changes in the carrying value of goodwill were as follows: (in millions) for the fiscal years ended September 30, 2019 2018 Balance at beginning of year $ 1,794.8 $ 1,687.2 Acquisitions 345.7 117.4 Foreign exchange revaluation and other (10.2 ) (9.8 ) Balance at End of Year $ 2,130.3 $ 1,794.8
Schedule of definite-lived intangible assets	Definite-lived intangible assets were as follows: 2019 2018 (in millions) Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value as of September 30, Management contracts $ 125.4 $ (60.6 ) $ 64.8 $ 54.9 $ (47.0 ) $ 7.9
Schedule of estimated remaining amortization expense	Definite-lived intangible assets had a weighted-average remaining useful life of 3.7 years at September 30, 2019 , with estimated remaining amortization expense as follows: (in millions) for the fiscal years ending September 30, Amount 2020 $ 18.9 2021 18.1 2022 16.6 2023 7.4 2024 2.8 Thereafter 1.0 Total $ 64.8

Debt (Tables)

Debt (Tables)	12 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of outstanding debt	Debt consisted of the following: (in millions) 2019 Effective Interest Rate 2018 Effective Interest Rate as of September 30, Senior Notes $300 million 2.80% notes due September 2022 $ 299.8 2.93 % $ 299.7 2.93 % $400 million 2.85% notes due March 2025 399.6 2.97 % 399.6 2.97 % Total senior notes 699.4 699.3 Other Loan due December 2019 0.2 9.30 % — N/A Debt issuance costs (2.7 ) (3.4 ) Total $ 696.9 $ 695.9

Consolidated Investment Produ_2

Consolidated Investment Products (Tables)	12 Months Ended
	Sep. 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) as of September 30, 2019 2018 Assets Cash and cash equivalents $ 154.2 $ 299.8 Receivables 99.0 114.2 Investments, at fair value 2,303.9 2,109.4 Other assets — 1.0 Total Assets $ 2,557.1 $ 2,524.4 Liabilities Accounts payable and accrued expenses $ 81.5 $ 68.0 Debt 50.8 32.6 Other liabilities — 9.3 Total liabilities 132.3 109.9 Redeemable Noncontrolling Interests 746.7 1,043.6 Stockholders ’ Equity Franklin Resources, Inc.’s interests 1,129.6 1,092.6 Nonredeemable noncontrolling interests 548.5 278.3 Total stockholders’ equity 1,678.1 1,370.9 Total Liabilities, Redeemable Noncontrolling Interests and Stockholders ’ Equity $ 2,557.1 $ 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 Practical Expedient Total as of September 30, 2019 Assets Investments Debt securities $ 0.1 $ 1,083.6 $ 131.4 $ — $ 1,215.1 Equity securities 195.1 223.9 296.4 204.1 919.5 Real estate — — 152.7 — 152.7 Loans — — 16.6 — 16.6 Total Assets Measured at Fair Value $ 195.2 $ 1,307.5 $ 597.1 $ 204.1 $ 2,303.9 (in millions) Level 1 Level 2 Level 3 NAV as a Practical Expedient 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 Securities Debt Securities Real Estate Loans Total Level 3 Assets for the fiscal year ended September 30, 2019 Balance at beginning of year $ 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, net 8.0 (13.9 ) 5.0 (3.3 ) (4.2 ) Purchases 155.5 12.0 147.0 9.2 323.7 Sales and settlements (81.4 ) (20.2 ) — (21.6 ) (123.2 ) Transfers into Level 3 0.1 0.4 — — 0.5 Transfers out of Level 3 (25.4 ) (3.6 ) — — (29.0 ) Foreign exchange revaluation (5.3 ) (1.0 ) 0.7 — (5.6 ) Balance at End of Year $ 296.4 $ 131.4 $ 152.7 $ 16.6 $ 597.1 Change in unrealized gains (losses) included in net income relating to assets held at end of year $ (6.3 ) $ (5.7 ) $ 5.0 $ (0.6 ) $ (7.6 ) (in millions) Equity Securities Debt Securities Loans Total Level 3 Assets for the fiscal year ended September 30, 2018 Balance at beginning of year $ 160.7 $ 135.4 $ — $ 296.1 Realized and unrealized gains (losses) included in investment and other income, net 26.2 4.9 (0.7 ) 30.4 Purchases 32.0 16.2 26.0 74.2 Sales and settlements (17.5 ) (39.1 ) — (56.6 ) Consolidation — — 7.0 7.0 Foreign exchange revaluation (1.7 ) 0.6 — (1.1 ) Balance at End of Year $ 199.7 $ 118.0 $ 32.3 $ 350.0 Change in unrealized gains (losses) included in net income relating to assets held at end of year $ 17.3 $ 0.8 $ (0.7 ) $ 17.4
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 September 30, 2019 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Equity securities $ 176.9 Market comparable companies Enterprise value/ 4.5–11.8 (8.1) Discount for lack of marketability 15.0%–30.0% (23.1%) Risk premium 18.9% Enterprise value/ 3.7 97.2 Discounted cash flow Discount rate 4.8%–16.3% (10.3%) Discount for lack of marketability 17.0% 22.3 Market pricing Private sale pricing $0.25–$20.13 ($2.06) per share Debt securities 115.5 Discounted cash flow Discount rate 4.8%–17.4% (9.7%) Discount for lack of marketability 17.0%–24.7% (22.9%) 15.9 Market comparable companies Price-to-earnings ratio 10.0 Enterprise value/ 21.9 Real estate 84.7 Discounted cash flow Discount rate 6.4%–7.4% (7.1%) 68.0 Yield capitalization Equivalent yield 4.3%–6.1% (5.4%) Loans 16.6 Discounted cash flow Loss-adjusted discount rate 3.0%–23.9% (12.0%) __________________ 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 Enterprise value/ 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 2019 2018 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value as of September 30, Financial Asset Cash and cash equivalents 1 $ 154.2 $ 154.2 $ 299.8 $ 299.8 Financial Liability Debt 3 $ 50.8 $ 51.0 $ 32.6 $ 32.4
Schedule of contractual maturities for debt of CIPs	The contractual maturities for debt of CIPs at September 30, 2019 were as follows: (in millions) for the fiscal years ending September 30, Amount 2020 $ 23.3 2021 7.5 2022 — 2023 — 2024 20.0 Total $ 50.8
Schedule of changes in redeemable noncontrolling interests of CIPs	Changes in redeemable noncontrolling interests of CIPs were as follows: (in millions) for the fiscal years ended September 30, 2019 2018 2017 Balance at beginning of year $ 1,043.6 $ 1,941.9 $ 61.1 Adoption of new accounting guidance — — 824.7 Net income (loss) 6.2 (12.8 ) 53.0 Net subscriptions and other 1,046.6 170.9 884.3 Net consolidations (deconsolidations) (1,349.7 ) (1,056.4 ) 118.8 Balance at End of Year $ 746.7 $ 1,043.6 $ 1,941.9

Nonconsolidated Variable Inte_2

Nonconsolidated Variable Interest Entities (Tables)	12 Months Ended
	Sep. 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) as of September 30, 2019 2018 Investments $ 458.1 $ 161.8 Receivables 149.5 140.1 Total $ 607.6 $ 301.9

Taxes on Income (Tables)

Taxes on Income (Tables)	12 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Schedule of taxes on income	Taxes on income were as follows: (in millions) for the fiscal years ended September 30, 2019 2018 2017 Current expense Federal $ 343.4 $ 1,343.7 $ 585.0 State 37.0 38.0 65.3 Non-U.S. 66.8 141.1 100.2 Deferred expense (benefit) (4.9 ) (50.3 ) 8.9 Total $ 442.3 $ 1,472.5 $ 759.4
Schedule of income before taxes	Income before taxes consisted of the following: (in millions) for the fiscal years ended September 30, 2019 2018 2017 U.S. $ 1,151.1 $ 1,458.1 $ 1,594.5 Non-U.S. 496.7 757.1 954.6 Total $ 1,647.8 $ 2,215.2 $ 2,549.1
Components of deferred tax assets and liabilities	The significant components of deferred tax assets and deferred tax liabilities were as follows: (in millions) as of September 30, 2019 2018 Deferred Tax Assets Deferred compensation and benefits $ 39.7 $ 33.1 Net operating loss carry-forwards 31.9 31.8 Stock-based compensation 19.6 21.9 Unrealized foreign exchange losses 11.0 3.7 Tax benefit for uncertain tax positions 8.7 10.0 Other 21.7 15.0 Total deferred tax assets 132.6 115.5 Valuation allowance (26.9 ) (27.5 ) Deferred tax assets, net of valuation allowance 105.7 88.0 Deferred Tax Liabilities Goodwill and other purchased intangibles 159.5 142.2 Depreciation on fixed assets 22.5 20.9 Investments in partnerships 6.6 16.4 Other 16.4 17.7 Total deferred tax liabilities 205.0 197.2 Net Deferred Tax Liability $ 99.3 $ 109.2
Components of net deferred tax liability as classified in the consolidated balance sheets	The components of the net deferred tax liability were classified in the consolidated balance sheets as follows: (in millions) as of September 30, 2019 2018 Other assets $ 20.8 $ 17.3 Deferred tax liabilities 120.1 126.5 Net Deferred Tax Liability $ 99.3 $ 109.2
Reconciliation of the amount of tax expense at the federal statutory rate and taxes on income	A reconciliation of the amount of tax expense at the federal statutory rate and taxes on income as reflected in the consolidated statements of income is as follows: (in millions) for the fiscal years ended September 30, 2019 2018 2017 Federal taxes at statutory rate $ 346.0 21.0 % $ 542.7 24.5 % $ 892.2 35.0 % Transition tax on deemed repatriation of undistributed foreign earnings 86.0 5.2 % 983.2 44.4 % — — Revaluation of net deferred tax liabilities — — (53.3 ) (2.4 %) — — Other Tax Act impacts 0.4 — 38.9 1.8 % — — State taxes, net of federal tax effect 29.7 1.8 % 16.6 0.7 % 41.4 1.6 % Effect of non-U.S. operations (21.3 ) (1.3 %) (61.9 ) (2.8 %) (146.2 ) (5.7 %) Effect of net (income) loss attributable to noncontrolling interests (2.1 ) (0.1 %) 5.3 0.2 % (32.6 ) (1.3 %) Other 3.6 0.2 % 1.0 0.1 % 4.6 0.2 % Tax Provision $ 442.3 26.8 % $ 1,472.5 66.5 % $ 759.4 29.8 %
Reconciliation of gross unrecognized tax benefits	A reconciliation of the beginning and ending balances of gross unrecognized tax benefits is as follows: (in millions) for the fiscal years ended September 30, 2019 2018 2017 Balance at beginning of year $ 77.5 $ 81.1 $ 82.1 Additions for tax positions of prior years 131.8 3.6 6.6 Reductions for tax positions of prior years (2.9 ) (6.6 ) (1.3 ) Tax positions related to the current year 10.7 11.6 11.6 Settlements with taxing authorities (2.2 ) — (5.2 ) Expirations of statute of limitations (12.3 ) (12.2 ) (12.7 ) Balance at End of Year $ 202.6 $ 77.5 $ 81.1

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Future minimum lease payments under long-term non-cancelable operating leases	Future minimum lease payments under long-term non-cancelable operating leases were as follows as of September 30, 2019 : (in millions) for the fiscal years ending September 30, Amount 2020 $ 49.5 2021 45.3 2022 40.9 2023 39.1 2024 36.7 Thereafter 149.1 Total Minimum Lease Payments $ 360.6

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Sep. 30, 2019
Share-based Compensation [Abstract]
Summary of stock-based compensation expenses	Stock-based compensation expenses were as follows: (in millions) for the fiscal years ended September 30, 2019 2018 2017 Stock and stock unit awards $ 105.7 $ 111.6 $ 117.0 Employee stock investment plan 5.8 6.2 6.4 Total $ 111.5 $ 117.8 $ 123.4
Summary of stock and stock unit award activity	Stock and stock unit award activity was as follows: (shares in thousands) Time-Based Shares Performance- Based Shares Total Shares Weighted-Average Grant-Date Fair Value for the fiscal year ended September 30, 2019 Nonvested balance at September 30, 2018 2,678 1,813 4,491 $ 39.08 Granted 3,906 897 4,803 30.75 Vested (2,347 ) (606 ) (2,953 ) 35.80 Forfeited/canceled (459 ) (250 ) (709 ) 36.23 Nonvested balance at September 30, 2019 3,778 1,854 5,632 $ 34.06

Segment and Geographic Inform_2

Segment and Geographic Information (Tables)	12 Months Ended
	Sep. 30, 2019
Segment Reporting, Measurement Disclosures [Abstract]
Schedule of geographic information	Geographic information was as follows: (in millions) for the fiscal years ended September 30, 2019 2018 2017 Operating Revenues United States $ 3,487.6 $ 3,693.2 $ 3,870.6 Luxembourg 1,533.7 1,732.5 1,654.8 Americas excluding United States 392.3 478.4 483.3 Asia-Pacific 257.0 299.7 282.6 Europe, Middle East and Africa, excluding Luxembourg 103.9 115.3 100.9 Total $ 5,774.5 $ 6,319.1 $ 6,392.2 (in millions) as of September 30, 2019 2018 2017 Property and Equipment, Net United States $ 542.8 $ 465.4 $ 426.1 Europe, Middle East and Africa 90.0 10.1 12.2 Asia-Pacific 40.7 42.1 60.2 Americas excluding United States 10.2 17.4 18.7 Total $ 683.7 $ 535.0 $ 517.2

Other Income (Expenses) (Tables

Other Income (Expenses) (Tables)	12 Months Ended
	Sep. 30, 2019
Other Income and Expenses [Abstract]
Schedule of other income (expenses)	Other income (expenses) consisted of the following: (in millions) for the fiscal years ended September 30, 2019 2018 2017 Investment and Other Income, Net Dividend income $ 97.0 $ 51.1 $ 13.9 Interest income 31.0 76.5 74.9 Gains (losses) on investments, net (9.7 ) 6.0 23.6 Income (losses) from investments in equity method investees (10.4 ) 44.4 107.9 Gains (losses) on investments of CIPs, net (26.3 ) (55.0 ) 118.2 Rental income 19.8 15.9 11.1 Foreign currency exchange gains (losses), net 13.1 0.6 (16.0 ) Other, net 0.6 5.8 2.7 Total 115.1 145.3 336.3 Interest Expense (24.7 ) (48.7 ) (51.5 ) Other Income, Net $ 90.4 $ 96.6 $ 284.8

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Sep. 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 fiscal year ended September 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 (53.9 ) (2.4 ) (5.4 ) (61.7 ) Reclassifications to compensation and benefits expense, net of tax — 0.4 — 0.4 Reclassifications to net investment and other income, net of tax 1.4 — 6.9 8.3 Total other comprehensive income (loss) (52.5 ) (2.0 ) 1.5 (53.0 ) Balance at September 30, 2019 $ (425.4 ) $ (6.2 ) $ — $ (431.6 ) (in millions) Currency Translation Adjustments Unrealized Unrealized Total for the fiscal year ended September 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 (85.5 ) 1.5 7.3 (76.7 ) Reclassifications to compensation and benefits expense, net of tax — 0.4 — 0.4 Reclassifications to net investment and other income, net of tax (6.4 ) — (3.0 ) (9.4 ) Total other comprehensive income (loss) (91.9 ) 1.9 4.3 (85.7 ) Balance at September 30, 2018 $ (372.9 ) $ (4.2 ) $ 6.5 $ (370.6 )

Significant Accounting Polici_3

Significant Accounting Policies - Narrative (Details)	12 Months Ended
	Sep. 30, 2019
Property, Plant and Equipment [Line Items]
Number of reporting unit	1
Deferred sales commission amortization period, minimum	1 year 6 months
Deferred sales commission amortization period, maximum	6 years
Stock-based compensation awards vesting period	3 years
Minimum [Member]
Property, Plant and Equipment [Line Items]
Intangible assets, estimated useful lives	3 years
Property and equipment, estimated useful lives	3 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Intangible assets, estimated useful lives	15 years
Property and equipment, estimated useful lives	35 years

New Accounting Guidance - Narra

New Accounting Guidance - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2019	Oct. 01, 2018
ASU 2016-01 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance		$ (8)
ASU 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right-of-use asset	$ 270
Lease liability	$ 315
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)
Investments [Member] | ASU 2016-01 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance		(21.8)
Retained Earnings [Member] | ASU 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance		6.9
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 Statements of Income (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
General, administrative and other	$ 420.7	$ 397.7	$ 322.2
Adoption impact [Member] | ASU 2014-09 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
General, administrative and other	(8.6)
Amount Without Adoption [Member] | ASU 2014-09 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
General, administrative and other	412.1
Investment management fees [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Earned From Contracts With Customers	3,985.2	4,367.5	4,359.2
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	59.6
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	4,044.8
Sales and distribution fees [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Earned From Contracts With Customers	1,444.6	1,599.8	1,705.6
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	(59.6)
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	1,385
Shareholder servicing fees [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Earned From Contracts With Customers	216.3	$ 221.9	$ 225.7
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	(8.6)
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	$ 207.7

Acquisition - Narrative (Detail

Acquisition - Narrative (Details) - USD ($) $ in Millions	Feb. 01, 2019	Sep. 30, 2019
Business Combinations [Abstract]
Purchase consideration in cash	$ 720.1
Debt retired	135
Tax deductible amount of goodwill	$ 453.2
Acquisition costs		$ 6.8

Acquisition - Revised Allocatio

Acquisition - Revised Allocation of Estimated Fair Values of the Assets Acquired and Liabilities and Noncontrolling Interests Assumed (Details) - USD ($) $ in Millions	Sep. 30, 2019	Feb. 01, 2019	Sep. 30, 2018	Sep. 30, 2017
Business Acquisition [Line Items]
Goodwill	$ 2,130.3		$ 1,794.8	$ 1,687.2
Initial Estimated Fair Value [Member]
Business Acquisition [Line Items]
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		315.8
Other assets		35.7
Other liabilities		(58.2)
Nonredeemable noncontrolling interests		(216.1)
Total Identifiable Net Assets		717.4
Adjustments [Member]
Business Acquisition [Line Items]
Cash		0
Investments		0
Investments of consolidated investment products		0
Indefinite-lived intangible assets		(27.4)
Definite-lived intangible assets		0
Goodwill		29.9
Other assets		(0.5)
Other liabilities		0.7
Nonredeemable noncontrolling interests		0
Total Identifiable Net Assets		2.7
Revised Estimated Fair Value [Member]
Business Acquisition [Line Items]
Cash		33.2
Investments		138.8
Investments of consolidated investment products		84.9
Indefinite-lived intangible assets		280.1
Definite-lived intangible assets		75.8
Goodwill		345.7
Other assets		35.2
Other liabilities		(57.5)
Nonredeemable noncontrolling interests		(216.1)
Total Identifiable Net Assets		$ 720.1

Earnings per Share - Narrative

Earnings per Share - Narrative (Details) - shares shares in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Earnings Per Share [Abstract]
Shares of nonparticipating nonvested stock unit awards excluded from the calculation of diluted EPS	0.2	0.3	0.7

Earnings per Share - Components

Earnings per Share - Components of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Earnings Per Share Reconciliation [Abstract]
Net income attributable to Franklin Resources, Inc.	$ 1,195.7	$ 764.4	$ 1,696.7
Less: allocation of earnings to participating nonvested stock and stock unit awards - basic	10.9	17.6	12.4
Less: allocation of earnings to participating nonvested stock and stock unit awards - diluted	10.9	17.6	12.4
Net Income Available to Common Stockholders - basic	1,184.8	746.8	1,684.3
Net Income Available to Common Stockholders - diluted	$ 1,184.8	$ 746.8	$ 1,684.3
Weighted-average shares outstanding – basic	503.6	537.4	558.8
Dilutive effect of nonparticipating nonvested stock unit awards	0.7	0.6	0.3
Weighted-Average Shares Outstanding – Diluted	504.3	538	559.1
Earnings per Share [Abstract]
Basic	$ 2.35	$ 1.39	$ 3.01
Diluted	$ 2.35	$ 1.39	$ 3.01

Revenues - Schedule of Operatin

Revenues - Schedule of Operating Revenues by Geographic Area (Details) - USD ($) $ in Millions		12 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Disaggregation of Revenue [Line Items]
Not Earned From Contracts With Customers	[1]	$ 105.1
Other		128.4	$ 129.9	$ 101.7
Revenues		5,774.5	6,319.1	6,392.2
Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		3,985.2	4,367.5	4,359.2
Not Earned From Contracts With Customers	[1]	0
Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		1,444.6	1,599.8	1,705.6
Not Earned From Contracts With Customers	[1]	0
Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		216.3	221.9	225.7
Not Earned From Contracts With Customers	[1]	0
Other [Member]
Disaggregation of Revenue [Line Items]
Not Earned From Contracts With Customers	[1]	105.1
United States [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		3,396.2
Revenues		3,487.6	3,693.2	3,870.6
United States [Member] | Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		2,260.6
United States [Member] | Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		941.3
United States [Member] | Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		175.7
United States [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		18.6
Luxembourg [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		1,533.5
Revenues		1,533.7	1,732.5	1,654.8
Luxembourg [Member] | Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		1,064.7
Luxembourg [Member] | Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		437.2
Luxembourg [Member] | Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		30.1
Luxembourg [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		1.5
Americas Excluding United States [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		388.8
Revenues		392.3	478.4	483.3
Americas Excluding United States [Member] | Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		325.4
Americas Excluding United States [Member] | Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		63.3
Americas Excluding United States [Member] | Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		0.1
Americas Excluding United States [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		0
Asia-Pacific [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		254.5
Revenues		257	$ 299.7	$ 282.6
Asia-Pacific [Member] | Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		241.8
Asia-Pacific [Member] | Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		1.3
Asia-Pacific [Member] | Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		10.4
Asia-Pacific [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		1
Europe, Middle East and Africa, Excluding Luxembourg [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		96.4
Europe, Middle East and Africa, Excluding Luxembourg [Member] | Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		92.7
Europe, Middle East and Africa, Excluding Luxembourg [Member] | Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		1.5
Europe, Middle East and Africa, Excluding Luxembourg [Member] | Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		0
Europe, Middle East and Africa, Excluding Luxembourg [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		$ 2.2
[1]	Consists of interest and dividend income from consolidated investment products.

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Investments [Abstract]
Aggregate carrying amounts of investment securities pledged as collateral	$ 1.2	$ 1.2
Other-than-temporary impairment	$ 10.5	$ 1.7	$ 0.8

Investments - Summary of Invest

Investments - Summary of Investments (Details) - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018
Investment Holdings [Line Items]
Equity securities, at fair value	$ 530
Investment securities, trading		$ 345.7
Debt securities, trading	44.2
Debt securities, available-for-sale	4
Total debt securities	48.2
Investment securities, available-for-sale		194.1
Investments in equity method investees	933.4	780.8
Other investments	44.2	105.9
Total	1,555.8	1,426.5
Sponsored funds [Member]
Investment Holdings [Line Items]
Equity securities, at fair value	466.4
Investment securities, trading		248.1
Investment securities, available-for-sale		178.6
Other equity securities [Member]
Investment Holdings [Line Items]
Equity securities, at fair value	$ 63.6
Debt and other equity securities [Member]
Investment Holdings [Line Items]
Investment securities, trading		97.6
Investment securities, available-for-sale		$ 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	Sep. 30, 2019	Sep. 30, 2018
Investment Holdings [Line Items]
Cost Basis	$ 4
Gross Unrealized Gains	0
Gross Unrealized Losses	0
Fair Value	$ 4
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	Sep. 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 Measurement - Narrat

Fair Value Measurement - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Unfunded commitments	$ 4.7
Transfers into Level 3 - assets	0	$ 0
Transfers into Level 3 - liabilities	0	0
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	$ 46.9
Liquidation weighted-average period	1 year 3 months 18 days
Private Debt Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Alternative Investment	$ 48.6
Contingent Consideration Liability [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Transfers out of level 3 - liability	0	0
Investments [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Transfers out of level 3 - assets	$ 7.1	$ 0

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liability Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018
Assets [Abstract]
Equity securities, at fair value	$ 530
Debt securities, trading	44.2
Debt securities, available-for-sale	4
Investment securities, trading		$ 345.7
Investment securities, available-for-sale		194.1
Sponsored funds [Member]
Assets [Abstract]
Equity securities, at fair value	466.4
Investment securities, trading		248.1
Investment securities, available-for-sale		178.6
Other equity securities [Member]
Assets [Abstract]
Equity securities, at fair value	63.6
Debt and other equity securities [Member]
Assets [Abstract]
Investment securities, trading		97.6
Investment securities, available-for-sale		15.5
Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Debt securities, trading	44.2
Debt securities, available-for-sale	4
Life settlement contracts	11.5	11.8
Total Assets Measured at Fair Value	589.7	551.6
Liability [Abstract]
Contingent consideration liability		38.7
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Assets [Abstract]
Debt securities, trading	0
Debt securities, available-for-sale	0
Life settlement contracts	0	0
Total Assets Measured at Fair Value	419.6	457.7
Liability [Abstract]
Contingent consideration liability		0
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Assets [Abstract]
Debt securities, trading	24.4
Debt securities, available-for-sale	4
Life settlement contracts	0	0
Total Assets Measured at Fair Value	31.6	61.3
Liability [Abstract]
Contingent consideration liability		0
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Assets [Abstract]
Debt securities, available-for-sale	0
Total Assets Measured at Fair Value	32.1	32.6
Fair Value, Measurements, Recurring [Member] | NAV as a Practical Expedient [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	106.4
Fair Value, Measurements, Recurring [Member] | Sponsored funds [Member]
Assets [Abstract]
Equity securities, at fair value	466.4
Investment securities, trading		248.1
Investment securities, available-for-sale		178.6
Fair Value, Measurements, Recurring [Member] | Sponsored funds [Member] | Level 1 [Member]
Assets [Abstract]
Equity securities, at fair value	397
Investment securities, trading		248.1
Investment securities, available-for-sale		178.6
Fair Value, Measurements, Recurring [Member] | Sponsored funds [Member] | Level 2 [Member]
Assets [Abstract]
Equity securities, at fair value	0
Investment securities, trading		0
Investment securities, available-for-sale		0
Fair Value, Measurements, Recurring [Member] | Sponsored funds [Member] | Level 3 [Member]
Assets [Abstract]
Equity securities, at fair value	0
Investment securities, trading		0
Investment securities, available-for-sale		0
Fair Value, Measurements, Recurring [Member] | Sponsored funds [Member] | NAV as a Practical Expedient [Member]
Assets [Abstract]
Equity securities, at fair value	69.4
Fair Value, Measurements, Recurring [Member] | Other equity securities [Member]
Assets [Abstract]
Equity securities, at fair value	63.6
Fair Value, Measurements, Recurring [Member] | Other equity securities [Member] | Level 1 [Member]
Assets [Abstract]
Equity securities, at fair value	22.6
Fair Value, Measurements, Recurring [Member] | Other equity securities [Member] | Level 2 [Member]
Assets [Abstract]
Equity securities, at fair value	3.2
Fair Value, Measurements, Recurring [Member] | Other equity securities [Member] | Level 3 [Member]
Assets [Abstract]
Equity securities, at fair value	0.8
Fair Value, Measurements, Recurring [Member] | Other equity securities [Member] | NAV as a Practical Expedient [Member]
Assets [Abstract]
Equity securities, at fair value	$ 37
Fair Value, Measurements, Recurring [Member] | Debt and other equity securities [Member]
Assets [Abstract]
Investment securities, trading		97.6
Investment securities, available-for-sale		15.5
Fair Value, Measurements, Recurring [Member] | Debt and other equity securities [Member] | Level 1 [Member]
Assets [Abstract]
Investment securities, trading		26.6
Investment securities, available-for-sale		4.4
Fair Value, Measurements, Recurring [Member] | Debt and other equity securities [Member] | Level 2 [Member]
Assets [Abstract]
Investment securities, trading		50.5
Investment securities, available-for-sale		10.8
Fair Value, Measurements, Recurring [Member] | Debt and other equity securities [Member] | Level 3 [Member]
Assets [Abstract]
Investment securities, trading		20.5
Investment securities, available-for-sale		$ 0.3

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Changes in Level 3 Assets and Liability (Details) - Level 3 [Member] - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of year - assets	$ 32.6	$ 199.9
Purchases - assets	10.7	14.5
Sales - assets	(6.5)	(2.6)
Settlements - assets	(4.6)	(174)
Transfers out of level 3 - assets	(7.1)	0
Foreign exchange revaluation and other	0	(9.7)
Balance at End of Year - Assets	32.1	32.6
Change in unrealized gains (losses) included in net income relating to assets and liability held at end of year - assets	3.4	2.1
Contingent Consideration Liability [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of year - liability	(38.7)	(51)
Purchases - liability	0	0
Sales - liability	0	0
Settlements - liability	40.7	32.4
Transfers out of level 3 - liability	0	0
Foreign exchange revaluation and other	0	(7)
Balance at End of Year - Liability	0	(38.7)
Change in unrealized gains (losses) included in net income relating to assets and liability held at end of year - liability	0	(13.1)
Investment and other income [Member] | Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total realized and unrealized gains (losses) - assets	7	4.5
Investment and other income [Member] | Contingent Consideration Liability [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total realized and unrealized gains (losses) - liability	0	0
General, administrative and other expense [Member] | Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total realized and unrealized gains (losses) - assets	0	0
General, administrative and other expense [Member] | Contingent Consideration Liability [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total realized and unrealized gains (losses) - liability	$ (2)	$ (13.1)

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	12 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, trading	$ 44.2
Investment securities, trading		$ 345.7
Fair Value, Measurements, Recurring [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, trading	44.2
Life settlement contracts	11.5	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	19.8
Investment securities, trading		20.5
Life settlement contracts	$ 11.5	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	0.027
Investment securities, trading, measurement input		0.041
Life settlement contracts, measurement input	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	0.133
Investment securities, trading, measurement input		0.123
Life settlement contracts, measurement input	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	0.067
Investment securities, trading, measurement input		0.058
Life settlement contracts, measurement input	0.132	0.131
Contingent consideration liability, measurement input		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, measurement input		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	0.061
Investment securities, trading, measurement input		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	0.042
Investment securities, trading, measurement input		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	19 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	107 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	57 months	61 months

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments not Measured at Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Financial Assets [Abstract]
Cash and cash equivalents	$ 5,957.6	$ 6,910.6	$ 8,749.7	$ 8,483.3
Other investments	44.2	105.9
Financial Liability [Abstract]
Debt	699.4	699.3
Carrying Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	5,803.4	6,610.8
Time deposits	15.4	12.3
Financial Liability [Abstract]
Debt	696.9	695.9
Estimated Fair Value [Member] | Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	5,803.4	6,610.8
Estimated Fair Value [Member] | Level 2 [Member]
Financial Assets [Abstract]
Time deposits	15.4	12.3
Financial Liability [Abstract]
Debt	718.7	671.1
Equity securities [Member] | Carrying Value [Member]
Financial Assets [Abstract]
Other investments	17.3	81.8
Equity securities [Member] | Estimated Fair Value [Member] | Level 3 [Member]
Financial Assets [Abstract]
Other investments	$ 19.2	$ 103.6

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Property, Plant and Equipment, Net [Abstract]
Depreciation and amortization expense	$ 83.2	$ 78.9	$ 81.5
Recognized equipment impairment	$ 0	$ 6.6	$ 0

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Property, Plant and Equipment, Net, by Type [Abstract]
Total cost	$ 1,716	$ 1,500.8
Less: accumulated depreciation and amortization	(1,032.3)	(965.8)
Property and Equipment, Net	$ 683.7	535	$ 517.2
Minimum [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property and Equipment, Useful Lives	3 years
Maximum [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property and Equipment, Useful Lives	35 years
Furniture, software and equipment [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Total cost	$ 846.7	798.6
Furniture, software and equipment [Member] | Minimum [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property and Equipment, Useful Lives	3 years
Furniture, software and equipment [Member] | Maximum [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property and Equipment, Useful Lives	10 years
Premises and leasehold improvements [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Total cost	$ 789.2	628.1
Premises and leasehold improvements [Member] | Minimum [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property and Equipment, Useful Lives	5 years
Premises and leasehold improvements [Member] | Maximum [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property and Equipment, Useful Lives	35 years
Land [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Total cost	$ 80.1	$ 74.1

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of indefinite-lived intangible assets	$ 9.3	$ 0	$ 0
Impairment of goodwill	0	0	0
Amortization expense definite-lived intangible assets	$ 14.7	1.8	3.9
Definite-lived intangible assets weighted-average remaining useful life	3 years 8 months 12 days
Management contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Impairment of definite-lived intangible assets	$ 4	$ 5.7	$ 9.6

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Schedule of Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 2,130.3	$ 1,794.8	$ 1,687.2
Indefinite-lived intangible assets	799.4	530.7
Definite-lived intangible assets, net	64.8	7.9
Goodwill and Other Intangible Assets, Net	$ 2,994.5	$ 2,333.4

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Schedule of Changes in Carrying Value of Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Balance at beginning of year	$ 1,794.8	$ 1,687.2
Acquisitions	345.7	117.4
Foreign exchange revaluation and other	(10.2)	(9.8)
Balance at End of Year	$ 2,130.3	$ 1,794.8

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Schedule of Definite-Lived Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018
Finite-Lived Intangible Assets [Line Items]
Total	$ 64.8	$ 7.9
Management contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	125.4	54.9
Accumulated Amortization	(60.6)	(47)
Total	$ 64.8	$ 7.9

Goodwill and Other Intangible_7

Goodwill and Other Intangible Assets - Schedule of Estimated Remaining Amortization Expense (Details) - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2020	$ 18.9
2021	18.1
2022	16.6
2023	7.4
2024	2.8
Thereafter	1
Total	$ 64.8	$ 7.9

Debt - Narrative (Details)

Debt - Narrative (Details) $ in Millions	Sep. 30, 2019USD ($)
Debt Disclosure [Abstract]
Face value of senior unsecured and unsubordinated notes	$ 700
Commercial Paper [Member]
Debt Instrument [Line Items]
Commercial paper available for issuance under an uncommitted private placement program	$ 500

Debt - Outstanding Debt (Detail

Debt - Outstanding Debt (Details) - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018
Debt Instrument [Line Items]
Senior notes	$ 699.4	$ 699.3
Loan due December 2019	$ 0.2	0
Effective Interest Rate	9.30%
Debt issuance costs	$ (2.7)	(3.4)
Total	696.9	695.9
Notes Due September 2022 [Member]
Debt Instrument [Line Items]
Face value of senior notes	$ 300
Stated interest rate	2.80%
Senior notes	$ 299.8	$ 299.7
Effective Interest Rate	2.93%	2.93%
Notes Due March 2025 [Member]
Debt Instrument [Line Items]
Face value of senior notes	$ 400
Stated interest rate	2.85%
Senior notes	$ 399.6	$ 399.6
Effective Interest Rate	2.97%	2.97%

Consolidated Investment Produ_3

Consolidated Investment Products - Narrative (Details) $ in Millions	12 Months Ended
	Sep. 30, 2019USD ($)CIPs	Sep. 30, 2018USD ($)CIPs
Consolidated Investment Products [Abstract]
Number of consolidated investment products | CIPs	60	53
Schedule Of Consolidated Investment Products [Line Items]
CIPs' unfunded commitments	$ 4.7
Transfers into Level 3 - assets	0	$ 0
Debt	$ 696.9	695.9
Effective Interest Rate	9.30%
Nonredeemable Real Estate and Private Equity Funds [Member]
Schedule Of Consolidated Investment Products [Line Items]
Liquidation weighted-average period	1 year 3 months 18 days
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
CIPs' unfunded commitments	$ 168.7	1.9
Unfunded commitments Company contractually obligated to fund	20.6	0.4
Transfers into Level 3 - assets		0
Transfers out of level 3 - assets		0
Debt	$ 50.8	$ 32.6
Effective Interest Rate	5.09%	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 4 months 24 days	3 years 6 months
CIPs [Member] | Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Stated interest rate	2.08%	3.07%
CIPs [Member] | Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Stated interest rate	7.94%	7.88%

Consolidated Investment Produ_4

Consolidated Investment Products - Schedule of Balances of CIPs (Details) - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Assets [Abstract]
Cash and cash equivalents	$ 5,957.6	$ 6,910.6	$ 8,749.7	$ 8,483.3
Receivables	740	733.7
Investments, at fair value	589.7	551.6
Other assets	197.7	220.7
Total Assets	14,532.2	14,383.5
Liabilities [Abstract]
Accounts payable and accrued expenses	222.9	158.9
Debt	696.9	695.9
Other liabilities	270.6	184.1
Total liabilities	3,161.3	3,132
Redeemable Noncontrolling Interests	746.7	1,043.6
Stockholders' Equity [Abstract]
Franklin Resources, Inc.’s interests	9,906.5	9,899.2
Nonredeemable noncontrolling interests	717.7	308.7
Total stockholders’ equity	10,624.2	10,207.9	12,935.8	12,528.2
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	14,532.2	14,383.5
CIPs [Member]
Assets [Abstract]
Cash and cash equivalents	154.2	299.8
Receivables	99	114.2
Investments, at fair value	2,303.9	2,109.4
Other assets	0	1
Total Assets	2,557.1	2,524.4
Liabilities [Abstract]
Accounts payable and accrued expenses	81.5	68
Debt	50.8	32.6
Other liabilities	0	9.3
Total liabilities	132.3	109.9
Redeemable Noncontrolling Interests	746.7	1,043.6	$ 1,941.9	$ 61.1
Stockholders' Equity [Abstract]
Franklin Resources, Inc.’s interests	1,129.6	1,092.6
Nonredeemable noncontrolling interests	548.5	278.3
Total stockholders’ equity	1,678.1	1,370.9
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	$ 2,557.1	$ 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	Sep. 30, 2019	Sep. 30, 2018
Assets [Abstract]
Investments, at fair value	$ 589.7	$ 551.6
CIPs [Member]
Assets [Abstract]
Investments, at fair value	2,303.9	2,109.4
Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	589.7	551.6
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	419.6	457.7
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	31.6	61.3
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	32.1	32.6
Fair Value, Measurements, Recurring [Member] | NAV as a Practical Expedient [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	106.4
Fair Value, Measurements, Recurring [Member] | CIPs [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	2,303.9	2,109.4
Liability [Abstract]
Other liabilities		9.3
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 1 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	195.2	271.3
Liability [Abstract]
Other liabilities		0.6
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 2 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	1,307.5	1,374.3
Liability [Abstract]
Other liabilities		8.7
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	597.1	350
Liability [Abstract]
Other liabilities		0
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | NAV as a Practical Expedient [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	204.1	113.8
Debt securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member]
Assets [Abstract]
Investments, at fair value	1,215.1	1,338.1
Debt securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 1 [Member]
Assets [Abstract]
Investments, at fair value	0.1	0.6
Debt securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 2 [Member]
Assets [Abstract]
Investments, at fair value	1,083.6	1,219.5
Debt securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member]
Assets [Abstract]
Investments, at fair value	131.4	118
Equity securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member]
Assets [Abstract]
Investments, at fair value	919.5	739
Equity securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 1 [Member]
Assets [Abstract]
Investments, at fair value	195.1	270.7
Equity securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 2 [Member]
Assets [Abstract]
Investments, at fair value	223.9	154.8
Equity securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member]
Assets [Abstract]
Investments, at fair value	296.4	199.7
Equity securities [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member] | NAV as a Practical Expedient [Member]
Assets [Abstract]
Investments, at fair value	204.1	113.8
Real estate [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member]
Assets [Abstract]
Investments, at fair value	152.7
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	152.7
Loans [Member] | Fair Value, Measurements, Recurring [Member] | CIPs [Member]
Assets [Abstract]
Investments, at fair value	16.6	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	$ 16.6	$ 32.3

Consolidated Investment Produ_6

Consolidated Investment Products - Schedule of Changes in Level 3 Assets of CIPs (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Schedule Of Consolidated Investment Products [Line Items]
Transfers into Level 3 - assets	$ 0	$ 0
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Transfers into Level 3 - assets		0
Transfers out of level 3 - assets		0
CIPs [Member] | Level 3 [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of year - assets	350	296.1
Acquisition	84.9
Realized and unrealized gains (losses) included in investment and other income, net	(4.2)	30.4
Purchases	323.7	74.2
Sales and settlements	(123.2)	(56.6)
Consolidation		7
Transfers into Level 3 - assets	0.5
Transfers out of level 3 - assets	(29)
Foreign exchange revaluation	(5.6)	(1.1)
Balance at End of Year - Assets	597.1	350
Change in unrealized gains (losses) included in net income relating to assets held at end of year	(7.6)	17.4
CIPs [Member] | Level 3 [Member] | Equity securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of year - assets	199.7	160.7
Acquisition	45.2
Realized and unrealized gains (losses) included in investment and other income, net	8	26.2
Purchases	155.5	32
Sales and settlements	(81.4)	(17.5)
Consolidation		0
Transfers into Level 3 - assets	0.1
Transfers out of level 3 - assets	(25.4)
Foreign exchange revaluation	(5.3)	(1.7)
Balance at End of Year - Assets	296.4	199.7
Change in unrealized gains (losses) included in net income relating to assets held at end of year	(6.3)	17.3
CIPs [Member] | Level 3 [Member] | Debt securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of year - assets	118	135.4
Acquisition	39.7
Realized and unrealized gains (losses) included in investment and other income, net	(13.9)	4.9
Purchases	12	16.2
Sales and settlements	(20.2)	(39.1)
Consolidation		0
Transfers into Level 3 - assets	0.4
Transfers out of level 3 - assets	(3.6)
Foreign exchange revaluation	(1)	0.6
Balance at End of Year - Assets	131.4	118
Change in unrealized gains (losses) included in net income relating to assets held at end of year	(5.7)	0.8
CIPs [Member] | Level 3 [Member] | Real estate [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of year - assets	0
Acquisition	0
Realized and unrealized gains (losses) included in investment and other income, net	5
Purchases	147
Sales and settlements	0
Transfers into Level 3 - assets	0
Transfers out of level 3 - assets	0
Foreign exchange revaluation	0.7
Balance at End of Year - Assets	152.7	0
Change in unrealized gains (losses) included in net income relating to assets held at end of year	5
CIPs [Member] | Level 3 [Member] | Loans [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of year - assets	32.3	0
Acquisition	0
Realized and unrealized gains (losses) included in investment and other income, net	(3.3)	(0.7)
Purchases	9.2	26
Sales and settlements	(21.6)	0
Consolidation		7
Transfers into Level 3 - assets	0
Transfers out of level 3 - assets	0
Foreign exchange revaluation	0	0
Balance at End of Year - Assets	16.6	32.3
Change in unrealized gains (losses) included in net income relating to assets held at end of year	$ (0.6)	$ (0.7)

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		Sep. 30, 2019USD ($)$ / shares		Sep. 30, 2018USD ($)$ / shares
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		$ 589.7		$ 551.6
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		2,303.9		2,109.4
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Equity securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		919.5		739
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Debt securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		1,215.1		1,338.1
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Real estate [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		152.7
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Loans [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		16.6		$ 32.3
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [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] | Equity securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		296.4		$ 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		$ 176.9		$ 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		4.5		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		11.8		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		8.1	[1]	9.3
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity securities [Member] | Market comparable companies [Member] | Discount for lack of marketability [Member] | Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.150
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity securities [Member] | Market comparable companies [Member] | Discount for lack of marketability [Member] | Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.300
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity securities [Member] | Market comparable companies [Member] | Discount for lack of marketability [Member] | Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	0.231
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity securities [Member] | Market comparable companies [Member] | Risk premium [Member] | Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	0.189
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity securities [Member] | Market comparable companies [Member] | Revenue multiple [Member] | Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	3.7
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		$ 97.2		$ 27.8
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity securities [Member] | Discounted cash flow [Member] | Discount for lack of marketability [Member] | Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	0.170
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		0.048		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		0.163		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		0.103	[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		$ 22.3
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		20.13
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]	2.06
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Debt securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		$ 131.4		$ 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		$ 15.9		$ 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		21.9	[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		$ 115.5		$ 78.7
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Debt securities [Member] | Discounted cash flow [Member] | Discount for lack of marketability [Member] | Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.170
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Debt securities [Member] | Discounted cash flow [Member] | Discount for lack of marketability [Member] | Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.247
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Debt securities [Member] | Discounted cash flow [Member] | Discount for lack of marketability [Member] | Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	0.229
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		0.048		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		0.174		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		0.097	[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] | Real estate [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		$ 152.7
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Real estate [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		$ 84.7
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Real estate [Member] | Discounted cash flow [Member] | Discount rate [Member] | Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.064
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Real estate [Member] | Discounted cash flow [Member] | Discount rate [Member] | Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.074
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Real estate [Member] | Discounted cash flow [Member] | Discount rate [Member] | Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	0.071
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Real estate [Member] | Yield Capitalization Valuation Technique [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		$ 68
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Real estate [Member] | Yield Capitalization Valuation Technique [Member] | Equivalent yield [Member] | Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.043
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Real estate [Member] | Yield Capitalization Valuation Technique [Member] | Equivalent yield [Member] | Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.061
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Real estate [Member] | Yield Capitalization Valuation Technique [Member] | Equivalent yield [Member] | Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	0.054
Fair Value, Measurements, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Loans [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, at fair value		$ 16.6		$ 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		0.239		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		0.120	[1]	0.120
[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	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Financial Assets [Abstract]
Cash and cash equivalents	$ 5,957.6	$ 6,910.6	$ 8,749.7	$ 8,483.3
Financial Liability [Abstract]
Debt	696.9	695.9
CIPs [Member]
Financial Assets [Abstract]
Cash and cash equivalents	154.2	299.8
Financial Liability [Abstract]
Debt	50.8	32.6
Carrying Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	5,803.4	6,610.8
Carrying Value [Member] | CIPs [Member]
Financial Assets [Abstract]
Cash and cash equivalents	154.2	299.8
Financial Liability [Abstract]
Debt	50.8	32.6
Estimated Fair Value [Member] | Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	5,803.4	6,610.8
Estimated Fair Value [Member] | CIPs [Member] | Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	154.2	299.8
Estimated Fair Value [Member] | CIPs [Member] | Level 3 [Member]
Financial Liability [Abstract]
Debt	$ 51	$ 32.4

Consolidated Investment Produ_9

Consolidated Investment Products Consolidated Investment Products - Schedule of Contractual Maturities for Debt of CIPs (Details) - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018
Schedule Of Consolidated Investment Products [Line Items]
Total	$ 696.9	$ 695.9
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
2020	23.3
2021	7.5
2022	0
2023	0
2024	20
Total	$ 50.8

Consolidated Investment Prod_10

Consolidated Investment Products - Schedule of Redeemable Noncontrolling Interests of CIPs (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017	Oct. 01, 2016	Sep. 30, 2016
Temporary Equity [Line Items]
Balance at beginning of year	$ 1,043.6
Net income (loss)	6.2	$ (12.8)	$ 53
Net subscriptions and other	165	(6)	17.3
Net consolidations (deconsolidations)	24.3	2.4	(9.3)
Balance at End of Year	746.7	1,043.6
ASU 2015-02 [Member]
Temporary Equity [Line Items]
Adoption of new accounting guidance					$ (325.9)
CIPs [Member]
Temporary Equity [Line Items]
Balance at beginning of year	1,043.6	1,941.9	61.1
Net income (loss)	6.2	(12.8)	53
Balance at End of Year	746.7	1,043.6	1,941.9
CIPs [Member] | Redeemable Noncontrolling Interests [Member]
Temporary Equity [Line Items]
Net subscriptions and other	1,046.6	170.9	884.3
Net consolidations (deconsolidations)	$ (1,349.7)	$ (1,056.4)	$ 118.8
CIPs [Member] | ASU 2015-02 [Member] | Redeemable Noncontrolling Interests [Member]
Temporary Equity [Line Items]
Adoption of new accounting guidance				$ 824.7

Nonconsolidated Variable Inte_3

Nonconsolidated Variable Interest Entities - Narrative (Details) - Nonconsolidated VIEs [Member] $ in Millions	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 (Details) - Nonconsolidated VIEs [Member] - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018
Variable Interest Entity [Line Items]
Maximum exposure to loss	$ 607.6	$ 301.9
Investments [Member]
Variable Interest Entity [Line Items]
Maximum exposure to loss	458.1	161.8
Receivables [Member]
Variable Interest Entity [Line Items]
Maximum exposure to loss	$ 149.5	$ 140.1

Taxes on Income - Narrative (De

Taxes on Income - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Income Tax Examination [Line Items]
Net tax benefit		$ 87.6
Federal statutory rate	21.00%	24.50%	35.00%
Tax shortfall from stock-based compensation			$ 8.7
Impact of reduced rates on income tax expense	$ 4.1	$ 31.3	$ 28.8
Impact of reduced rates on income tax expense, per diluted share	$ 0.01	$ 0.06	$ 0.05
Valuation allowance	$ (0.6)	$ 2.3
Accrued interest on uncertain tax positions	11.9	11.3
Interest expense	0.7	0.9	$ 1.6
Estimated decrease in unrecognized tax benefits within the next twelve months	13.9
Foreign Tax Authority [Member]
Income Tax Examination [Line Items]
Operating loss carry-forwards	155
State [Member]
Income Tax Examination [Line Items]
Operating loss carry-forwards	34.8
Tax Cuts and Jobs Act [Member]
Income Tax Examination [Line Items]
Decrease in deferred tax assets		35.6
Decrease in deferred tax liabilities		88.9
Net tax benefit	0	53.3
Estimated transition tax expense (benefit)	(86)	(983.2)
Tax Cuts and Jobs Act [Member] | Domestic Tax Authority [Member]
Income Tax Examination [Line Items]
Estimated transition tax expense (benefit)	$ (827.9)
Next Four Years [Member]
Income Tax Examination [Line Items]
Federal portion of the transition tax liability, payment percentage	8.00%
Year Five [Member]
Income Tax Examination [Line Items]
Federal portion of the transition tax liability, payment percentage	15.00%
Year Six [Member]
Income Tax Examination [Line Items]
Federal portion of the transition tax liability, payment percentage	20.00%
Year Seven [Member]
Income Tax Examination [Line Items]
Federal portion of the transition tax liability, payment percentage	25.00%
Expire between FY 2020 and 2038, remaining with indefinite life [Member] | Foreign Tax Authority [Member]
Income Tax Examination [Line Items]
Operating loss carry-forwards	$ 73.7
ASU 2018-02 [Member]
Income Tax Examination [Line Items]
Adoption of new accounting guidance		0.1
ASU 2018-02 [Member] | Unrealized Losses on Defined Benefit Plans [Member]
Income Tax Examination [Line Items]
Adoption of new accounting guidance		$ 0.1

Taxes on Income - Schedule of T

Taxes on Income - Schedule of Taxes on Income (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Current expense [Abstract]
Federal	$ 343.4	$ 1,343.7	$ 585
State	37	38	65.3
Non-U.S.	66.8	141.1	100.2
Deferred expense (benefit)	(4.9)	(50.3)	8.9
Total	$ 442.3	$ 1,472.5	$ 759.4

Taxes on Income - Schedule of I

Taxes on Income - Schedule of Income Before Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Income Tax Disclosure [Abstract]
U.S.	$ 1,151.1	$ 1,458.1	$ 1,594.5
Non-U.S.	496.7	757.1	954.6
Total	$ 1,647.8	$ 2,215.2	$ 2,549.1

Taxes on Income - Components of

Taxes on Income - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018
Deferred Tax Assets [Abstract]
Deferred compensation and benefits	$ 39.7	$ 33.1
Net operating loss carry-forwards	31.9	31.8
Stock-based compensation	19.6	21.9
Unrealized foreign exchange losses	11	3.7
Tax benefit for uncertain tax positions	8.7	10
Other	21.7	15
Total deferred tax assets	132.6	115.5
Valuation allowance	(26.9)	(27.5)
Deferred tax assets, net of valuation allowance	105.7	88
Deferred Tax Liabilities [Abstract]
Goodwill and other purchased intangibles	159.5	142.2
Depreciation on fixed assets	22.5	20.9
Investments in partnerships	6.6	16.4
Other	16.4	17.7
Total deferred tax liabilities	205	197.2
Net Deferred Tax Liability	$ 99.3	$ 109.2

Taxes on Income - Components _2

Taxes on Income - Components of Net Deferred Tax Liability as Classified in the Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Other assets	$ 20.8	$ 17.3
Deferred tax liabilities	120.1	126.5
Net Deferred Tax Liability	$ 99.3	$ 109.2

Taxes on Income - Reconciliatio

Taxes on Income - Reconciliation of the Amount of Tax Expense at the Federal Statutory Rate and Taxes on Income (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Federal taxes at statutory rate	$ 346	$ 542.7	$ 892.2
Federal statutory rate	21.00%	24.50%	35.00%
State taxes, net of federal tax effect	$ 29.7	$ 16.6	$ 41.4
State taxes, net of federal tax effect rate	1.80%	0.70%	1.60%
Effect of non-U.S. operations	$ (21.3)	$ (61.9)	$ (146.2)
Effect of non-U.S. operation rate	(1.30%)	(2.80%)	(5.70%)
Effect of net (income) loss attributable to noncontrolling interests	$ (2.1)	$ 5.3	$ (32.6)
Effect of net income attributable to noncontrolling interest rate	(0.10%)	0.20%	(1.30%)
Other	$ 3.6	$ 1	$ 4.6
Other rate	0.20%	0.10%	0.20%
Tax Provision	$ 442.3	$ 1,472.5	$ 759.4
Effective Tax Rate	26.80%	66.50%	29.80%
Tax Cuts and Jobs Act [Member]
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Transition tax on deemed repatriation of undistributed foreign earnings	$ 86	$ 983.2
Transition tax on deemed repatriation of undistributed foreign earnings rate	5.20%	44.40%
Revaluation of net deferred tax liabilities	$ 0	$ (53.3)
Revaluation of net deferred tax liabilities rate	0.00%	(2.40%)
Other	$ 0.4	$ 38.9
Other rate	0.00%	1.80%

Taxes on Income - Reconciliat_2

Taxes on Income - Reconciliation of Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 77.5	$ 81.1	$ 82.1
Additions for tax positions of prior years	131.8	3.6	6.6
Reductions for tax positions of prior years	(2.9)	(6.6)	(1.3)
Tax positions related to the current year	10.7	11.6	11.6
Settlements with taxing authorities	(2.2)	0	(5.2)
Expirations of statute of limitations	(12.3)	(12.2)	(12.7)
Balance at End of Year	$ 202.6	$ 77.5	$ 81.1

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Loss Contingencies [Line Items]
Accrued cash settlement payment	$ 13.9
Plan's employer matching contribution	75.00%
Lease expense	$ 61.7	$ 55.9	$ 56.3
Sublease income	0.3	$ 0.2	$ 0.4
Future Minimum Sublease Rentals, Sale Leaseback Transactions	0
Committed capital contributions	$ 267.8
Other Plan Changes [Member]
Loss Contingencies [Line Items]
Plan's employer matching contribution	85.00%

Commitments and Contingencies_2

Commitments and Contingencies - Future Minimum Lease Payments under Long-Term Non-Cancelable Operating Leases (Details) $ in Millions	Sep. 30, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
2020	$ 49.5
2021	45.3
2022	40.9
2023	39.1
2024	36.7
Thereafter	149.1
Total Minimum Lease Payments	$ 360.6

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation [Abstract]
Number of shares authorized for issuance under the USIP	120
Number of shares available for grant under USIP	14.3
Unrecognized compensation expense related to nonvested stock and stock unit awards	$ 131
Remaining weighted-average vesting period	1 year 9 months 18 days
Weighted-average grant-date fair values of stock awards and stock unit awards granted	$ 30.75	$ 42.63	$ 34.23
Fair value of stock awards and stock unit awards vested	$ 84.2	$ 91.5	$ 104
Total shares issued under ESIP	0.9
Shares reserved for future issuance under ESIP	1.9

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock-Based Compensation Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expenses	$ 111.5	$ 117.8	$ 123.4
Employee stock investment plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expenses	5.8	6.2	6.4
Stock and stock unit awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expenses	$ 105.7	$ 111.6	$ 117

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Stock and Stock Unit Award Activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested balance at September 30, 2018	4,491
Granted	4,803
Vested	(2,953)
Forfeited/canceled	(709)
Nonvested balance at September 30, 2019	5,632	4,491
Nonvested beginning balance, Weighted Average Grant Date Fair Value	$ 39.08
Weighted Average Grant Date Fair Value of shares granted	30.75	$ 42.63	$ 34.23
Weighted Average Grant Date Fair Value of shares vested	35.80
Weighted Average Grant Date Fair Value of shares forfeited/canceled	36.23
Nonvested ending balance, Weighted Average Grant Date Fair Value	$ 34.06	$ 39.08
Time-Based Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested balance at September 30, 2018	2,678
Granted	3,906
Vested	(2,347)
Forfeited/canceled	(459)
Nonvested balance at September 30, 2019	3,778	2,678
Performance-Based Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested balance at September 30, 2018	1,813
Granted	897
Vested	(606)
Forfeited/canceled	(250)
Nonvested balance at September 30, 2019	1,854	1,813

Defined Contribution Plans - Na

Defined Contribution Plans - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Retirement Benefits [Abstract]
Participants annual maximum contribution to defined contribution plan, pre-tax	50.00%
Percentage of annual bonus eligible for defined contribution to plan	100.00%
Loss Contingencies [Line Items]
Plan's employer matching contribution	75.00%
Expenses recognized for defined contribution plans	$ 52.2	$ 49.8	$ 45.5
Other Plan Changes [Member]
Loss Contingencies [Line Items]
Plan's employer matching contribution	85.00%

Segment and Geographic Inform_3

Segment and Geographic Information - Narrative (Details)	12 Months Ended
	Sep. 30, 2019segments
Segment Reporting [Abstract]
Number of operating segments	1

Segment and Geographic Inform_4

Segment and Geographic Information - Schedule of Operating Revenues, Property and Equipment by Geographic Areas (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating Revenues	$ 5,774.5	$ 6,319.1	$ 6,392.2
Property and Equipment, Net	683.7	535	517.2
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating Revenues	3,487.6	3,693.2	3,870.6
Property and Equipment, Net	542.8	465.4	426.1
Luxembourg [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating Revenues	1,533.7	1,732.5	1,654.8
Americas excluding United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating Revenues	392.3	478.4	483.3
Property and Equipment, Net	10.2	17.4	18.7
Asia-Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating Revenues	257	299.7	282.6
Property and Equipment, Net	40.7	42.1	60.2
Europe, Middle East and Africa, excluding Luxembourg [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating Revenues	103.9	115.3	100.9
Europe, Middle East and Africa [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and Equipment, Net	$ 90	$ 10.1	$ 12.2

Other Income (Expenses) - Narra

Other Income (Expenses) - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Other Income and Expenses [Abstract]
Proceeds from the sale of available-for-sale securities		$ 85.5	$ 51.6
Net losses recognized on equity securities measured at fair value and trading debt securities	$ (0.1)
Net gains (losses) recognized on trading investment securities		(1.7)	5
Net gains (losses) recognized on investment securities of CIPs	$ 1	$ (24.5)	$ 21.9

Other Income (Expenses) - Sched

Other Income (Expenses) - Schedule of Other Income (Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Other Income and Expenses [Abstract]
Dividend income	$ 97	$ 51.1	$ 13.9
Interest income	31	76.5	74.9
Income (losses) from investments in equity method investees	(10.4)	44.4	107.9
Rental income	19.8	15.9	11.1
Foreign currency exchange gains (losses), net	13.1	0.6	(16)
Other, net	0.6	5.8	2.7
Total	115.1	145.3	336.3
Interest Expense	(24.7)	(48.7)	(51.5)
Other Income, Net	90.4	96.6	284.8
Schedule Of Consolidated Investment Products [Line Items]
Gains (losses) on investments, net	(9.7)	6	23.6
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Gains (losses) on investments, net	$ (26.3)	$ (55)	$ 118.2

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income (Loss) by Component (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017	Oct. 01, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of year	$ (370.6)	$ (284.8)
Other comprehensive loss before reclassifications, net of tax	(61.7)	(76.7)
Reclassifications to compensation and benefits expense, net of tax	(0.4)	(0.4)
Reclassifications to net investment and other income, net of tax	(8.3)	9.4
Total other comprehensive income (loss)	(53)	(85.7)	$ 69.7
Balance at end of year	(431.6)	(370.6)	(284.8)
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		(0.1)
Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of year	(372.9)	(281)
Other comprehensive loss before reclassifications, net of tax	(53.9)	(85.5)
Reclassifications to compensation and benefits expense, net of tax	0	0
Reclassifications to net investment and other income, net of tax	(1.4)	6.4
Total other comprehensive income (loss)	(52.5)	(91.9)
Balance at end of year	(425.4)	(372.9)	(281)
Unrealized Losses on Defined Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of year	(4.2)	(6)
Other comprehensive loss before reclassifications, net of tax	(2.4)	1.5
Reclassifications to compensation and benefits expense, net of tax	(0.4)	(0.4)
Reclassifications to net investment and other income, net of tax	0	0
Total other comprehensive income (loss)	(2)	1.9
Balance at end of year	(6.2)	(4.2)	(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 on Investments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of year	6.5	2.2
Other comprehensive loss before reclassifications, net of tax	(5.4)	7.3
Reclassifications to compensation and benefits expense, net of tax	0	0
Reclassifications to net investment and other income, net of tax	(6.9)	3
Total other comprehensive income (loss)	1.5	4.3
Balance at end of year	$ 0	$ 6.5	$ 2.2
Unrealized Gains on Investments [Member] | ASU 2016-01 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Adoption of new accounting guidance				$ (8)