Franklin Resources (BEN) 10-Q 30 Jan 23 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Dec. 31, 2022	Jan. 23, 2023
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2022
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	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-2670991
Entity Address, Address Line One	One Franklin Parkway
Entity Address, City or Town	San Mateo
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94403
City Area Code	650
Local Phone Number	312-2000
Title of 12(b) Security	Common Stock, par value $0.10 per share
Trading Symbol	BEN
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		500,357,847

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating Revenues
Operating revenues	$ 1,967.1	$ 2,224
Operating Expenses
Compensation and benefits	979.2	802.6
Sales, distribution and marketing	388.6	510.1
Information systems and technology	121.4	123.8
Occupancy	54.5	56.3
Amortization of intangible assets	83.2	58.3
General, administrative and other	146.2	115.2
Total operating expenses	1,773.1	1,666.3
Operating Income	194	557.7
Other Income (Expenses)
Investment and other income, net	91.1	57
Interest expense	(30.9)	(19.3)
Expenses of consolidated investment products	7.6	13.2
Other Income, Net	35.1	138.2
Income before taxes	229.1	695.9
Taxes on income	60.3	151.1
Net income	168.8	544.8
Less: net income (loss) attributable to
Redeemable noncontrolling interests	(1.5)	7.5
Nonredeemable noncontrolling interests	4.7	84.1
Net income attributable to Franklin Resources, Inc.	$ 165.6	$ 453.2
Earnings per Share
Basic	$ 0.32	$ 0.89
Diluted	$ 0.32	$ 0.88
CIPs [Member]
Other Income (Expenses)
Investment and other income, net	$ (13.6)	$ 104.7
Expenses of consolidated investment products	(11.5)	(4.2)
Less: net income (loss) attributable to
Redeemable noncontrolling interests	(12.2)	(4.8)
Investment management fees [Member]
Operating Revenues
Operating revenues	1,631.8	1,760.5
Sales and distribution fees [Member]
Operating Revenues
Operating revenues	291.9	398.2
Shareholder servicing fees [Member]
Operating Revenues
Operating revenues	33.4	47.7
Other [Member]
Operating Revenues
Operating revenues	$ 10	$ 17.6

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net Income	$ 168.8	$ 544.8
Other Comprehensive Income (Loss)
Currency translation adjustments, net of tax	127.3	(6.9)
Net unrealized losses on defined benefit plans, net of tax	(2.6)	(5.1)
Other comprehensive income (loss)	124.7	(12)
Total comprehensive income	293.5	532.8
Less: comprehensive income (loss) attributable to
Redeemable noncontrolling interests	(1.5)	7.5
Nonredeemable noncontrolling interests	4.7	84.1
Comprehensive Income Attributable to Franklin Resources, Inc.	$ 290.3	$ 441.2

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022
Assets
Receivables	$ 1,291.8	$ 1,264.8
Investments	2,045.8	1,651.3
Total investments, at fair value	969.6	613.5
Property and equipment, net	759.9	743.3
Goodwill	5,942.8	5,778.6
Intangible assets, net	5,154.7	5,082.1
Operating lease right-of-use assets	475.7	464.5
Other	426.6	395.4
Total Assets	29,335.1	28,060.6
Liabilities
Compensation and benefits	1,057.7	1,464.4
Accounts payable and accrued expenses	604.9	466.2
Income taxes	665.6	523.1
Debt	3,370.5	3,376.4
Deferred tax liabilities	258.2	347.8
Operating lease liabilities	539	528.4
Other	1,545.7	1,425
Total liabilities	14,800.4	14,235.9
Commitments and Contingencies (Note 10)
Redeemable Noncontrolling Interests	1,979.2	1,525.8
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; 500,265,643 and 499,575,175 shares issued and outstanding at December 31, 2022 and September 30, 2022	50	50
Retained earnings	12,112.6	12,045.6
Accumulated other comprehensive loss	(496.3)	(621)
Total Franklin Resources, Inc. stockholders’ equity	11,666.3	11,474.6
Nonredeemable noncontrolling interests	889.2	824.3
Total stockholders’ equity	12,555.5	12,298.9
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	29,335.1	28,060.6
CIPs [Member]
Assets
Cash and cash equivalents	954.4	647.6
Receivables	91.6	134
Total investments, at fair value	8,735.6	7,898.1
Total Assets	9,781.6	8,679.7
Liabilities
Accounts payable and accrued expenses	594.3	646.9
Debt	6,164.5	5,457.7
Other	21.1	175
Total liabilities	6,779.9	6,279.6
Redeemable Noncontrolling Interests	1,379.7	942.2
Stockholders’ Equity
Total Franklin Resources, Inc. stockholders’ equity	1,052.5	960.8
Nonredeemable noncontrolling interests	569.5	497.1
Total stockholders’ equity	1,622	1,457.9
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	9,781.6	8,679.7
Franklin Resources, Inc. [Member]
Assets
Cash and cash equivalents	$ 3,547.8	$ 4,134.9

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022
Statement of Financial Position [Abstract]
Investments, at fair value	$ 969.6	$ 613.5
Preferred Stock, Par or Stated Value Per Share	$ 1	$ 1
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Common Stock, Par or Stated Value Per Share	$ 0.10	$ 0.10
Common Stock, Shares Authorized	1,000,000,000	1,000,000,000
Common Stock, Shares, Issued	500,265,643	499,575,175
Common Stock, Shares, Outstanding	500,265,643	499,575,175

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock [Member]	Capital in Excess of Par Value [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Stockholders' Equity [Member]	Nonredeemable Noncontrolling Interests [Member]
Beginning balance - Shares at Sep. 30, 2021		501.8
Beginning balance at Sep. 30, 2021		$ 50.2	$ 0	$ 11,550.8	$ (377.6)	$ 11,223.4
Beginning balance at Sep. 30, 2021							$ 587.2
Beginning balance at Sep. 30, 2021	$ 11,810.6
Stockholders' Equity [Roll Forward]
Net income attributable to Franklin Resources, Inc.	453.2			453.2		453.2
Nonredeemable noncontrolling interests	84.1						84.1
Net income	537.3
Other comprehensive income (loss)	(12)				(12)	(12)
Dividends declared on common stock	(148.9)			(148.9)		(148.9)
Repurchase of common stock - Shares		(0.7)
Repurchase of common stock - Amount	(21.7)	$ 0	(58.8)	37.1		(21.7)
Issuance of common stock - Shares		1.4
Issuance of common stock - Amount	47.7	$ 0.1	47.6			47.7
Stock-based compensation	11.2		11.2			11.2
Net subscriptions (distributions) and other	(27.8)						(27.8)
Ending balance - Shares at Dec. 31, 2021		502.5
Ending balance at Dec. 31, 2021		$ 50.3	0	11,892.2	(389.6)	11,552.9
Ending balance at Dec. 31, 2021							643.5
Ending balance at Dec. 31, 2021	12,196.4
Beginning balance - Shares at Sep. 30, 2022		499.6
Beginning balance at Sep. 30, 2022	11,474.6	$ 50	0	12,045.6	(621)	11,474.6
Beginning balance at Sep. 30, 2022	824.3						824.3
Beginning balance at Sep. 30, 2022	12,298.9
Stockholders' Equity [Roll Forward]
Net income attributable to Franklin Resources, Inc.	165.6			165.6		165.6
Nonredeemable noncontrolling interests	4.7						4.7
Net income	170.3
Other comprehensive income (loss)	124.7				124.7	124.7
Dividends declared on common stock	(153.6)			(153.6)		(153.6)
Repurchase of common stock - Shares		(0.5)
Repurchase of common stock - Amount	(14.2)	$ (0.1)	(69.1)	55		(14.2)
Issuance of common stock - Shares		1.2
Issuance of common stock - Amount	33.6	$ 0.1	33.5			33.6
Stock-based compensation	35.6		35.6			35.6
Net subscriptions (distributions) and other	95.9						95.9
Net deconsolidation of investment products	(35.7)						(35.7)
Ending balance - Shares at Dec. 31, 2022		500.3
Ending balance at Dec. 31, 2022	11,666.3	$ 50	$ 0	$ 12,112.6	$ (496.3)	$ 11,666.3
Ending balance at Dec. 31, 2022	889.2						$ 889.2
Ending balance at Dec. 31, 2022	$ 12,555.5

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared per share	$ 0.30	$ 0.29

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Net cash (used in) provided by operating activities
Net Income	$ 168.8	$ 544.8
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Stock-based compensation	69.5	59.4
Amortization of deferred sales commissions	12.4	18.4
Depreciation and other amortization	25.1	22.4
Amortization of intangible assets	83.2	58.3
Net gains on investments	(45.5)	(25.8)
Income from investments in equity method investees	(33.2)	(24.7)
Net losses (gains) on investments of consolidated investment products	72.3	(88)
Net purchase of investments by consolidated investment products	(259.2)	(67.9)
Deferred income taxes	(122.5)	(34.8)
Other	17.8	8.3
Changes in operating assets and liabilities:
Decrease (increase) in receivables and other assets	14.6	(140.6)
Increase in investments, net	(13.6)	(44.6)
Decrease in accrued compensation and benefits	(481.6)	(273.1)
Increase in income taxes payable	158.8	174.5
Increase (decrease) in accounts payable, accrued expenses and other liabilities	59.8	(6.3)
Increase (decrease) in accounts payable and accrued expenses of consolidated investment products	17	(13.9)
Net cash (used in) provided by operating activities	(256.3)	166.4
Net cash used in investing activities
Purchase of investments	(234.4)	(321.7)
Liquidation of investments	217.6	388.8
Purchase of investments by consolidated collateralized loan obligations	(822.5)	(839.2)
Liquidation of investments by consolidated collateralized loan obligations	328.7	435.2
Additions of property and equipment, net	(27.4)	(16.7)
Acquisitions, net of cash acquired	(493.7)	(372.3)
Payments of contingent consideration asset	2.9	3.9
Net deconsolidation of investment products	(13.8)	(6.6)
Net cash used in investing activities	(1,042.6)	(728.6)
Net cash provided by financing activities
Dividends paid on common stock	(148.4)	(143.1)
Repurchase of common stock	(14.2)	(21.7)
Proceeds from repurchase agreement	174.8	0
Proceeds from debt of consolidated investment products	955.3	1,727.6
Payments on debt of consolidated investment products	(277.9)	(1,228.1)
Payments on contingent consideration liabilities	(2)	(4)
Noncontrolling interests	271.3	136.6
Net cash provided by financing activities	958.9	467.3
Effect of exchange rate changes on cash and cash equivalents	59.7	(8)
Decrease in cash and cash equivalents	(280.3)	(102.9)
Cash and cash equivalents, beginning of period	4,782.5	4,647.2
Cash and Cash Equivalents, End of Period	4,502.2	4,544.3
Supplemental Disclosure of Cash Flow Information
Cash paid for income taxes	13.2	17.6
Cash paid for interest	4.3	8.5
Cash paid for interest by consolidated investment products	$ 50.5	$ 37.4

Basis of Presentation

Basis of Presentation	3 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of PresentationThe unaudited interim financial statements of Franklin Resources, Inc. (“Franklin”) and its consolidated subsidiaries (collectively, the “Company”) included herein have been prepared in accordance with the instructions to Form 10-Q and the rules and regulations of the U.S. Securities and Exchange Commission. Under these rules and regulations, some information and footnote disclosures normally included in financial statements prepared under accounting principles generally accepted in the United States of America have been shortened or omitted. Management believes that all adjustments necessary for a fair statement of the financial position and the results of operations for the periods shown have been made. All adjustments are normal and recurring. Management also 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. These financial statements should be read together with the Company’s audited financial statements included in its Annual Report on Form 10-K for the fiscal year ended September 30, 2022 (“fiscal year 2022”).

Acquisitions

Acquisitions	3 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisition BNY Alcentra Group Holdings, Inc. On November 1, 2022, the Company acquired all of the outstanding ownership interests in BNY Alcentra Group Holdings, Inc. (together with its subsidiaries “Alcentra”) from The Bank of New York Mellon Corporation, for cash consideration of $587.3 million, which includes $188.3 million for certain securities held in Alcentra’s collateralized loan obligations (“CLOs”); deferred consideration of $60.4 million due November 1, 2023; and contingent consideration to be paid upon the achievement of certain performance thresholds over the next four years of up to $350.0 million that has an acquisition-date fair value of $24.6 million. The consideration paid at close was funded from existing cash. The following table summarizes the estimated fair value amounts recognized for the assets acquired and liabilities assumed and resulting goodwill as of the acquisition date: (in millions) Estimated Fair Value as of November 1, 2022 Cash and cash equivalents $ 93.6 Receivables 57.2 Investments 285.3 Goodwill 152.6 Indefinite-lived intangible assets 89.9 Definite-lived intangible assets 55.7 Other assets 9.0 Compensation and benefits and other liabilities (71.0) Total Identifiable Net Assets $ 672.3 The purchase price allocation is preliminary and subject to change during the measurement period, which is not to exceed one year from the acquisition date. At this time, the Company does not expect material changes to the assets acquired or liabilities assumed; however, deferred tax assets and liabilities could materially change due to the use of preliminary valuation assumptions. The goodwill is primarily attributable to expected growth opportunities from the combined operations and is not deductible for tax purposes. The definite-lived intangible assets relate to acquired investment management contracts and trade names, which are amortized over their estimated useful lives ranging from 3.0 years to 10.0 years. Amortization expense related to the definite-lived intangible assets was $2.3 million for the period ended December 31, 2022. These assets had a weighted-average remaining useful life of 5.1 years at December 31, 2022, with estimated remaining amortization expense as follows: (in millions) for the fiscal years ending September 30, Amount 2023 (remainder of year) $ 10.5 2024 14.0 2025 14.0 2026 3.9 2027 2.9 Thereafter 8.1 Total $ 53.4 Costs incurred in connection with the acquisition were $14.1 million for the three months ended December 31, 2022. Alcentra contributed $27.7 million of revenue and did not have a material impact to net income attributable to Franklin Resources, Inc. for the period ended December 31, 2022. Consequently, the Company has not presented pro forma combined results of operations for this acquisition. In connection with the acquisition, the Company on December 15, 2022 entered into repurchase agreements with a third-party financing company for certain securities held by the Company in Alcentra’s CLOs. As of December 31, 2022, other liabilities includes repurchase agreements of €125.2 million (equivalent to $134.0 million at December 31, 2022) and $40.8 million with maturity values of €132.3 million and $42.4 million. The Company has pledged Alcentra investments with a carrying value of $198.9 million as collateral as of December 31, 2022. The repurchase agreements have contractual maturity dates ranging between 2029 to 2034.

Earnings per Share

Earnings per Share	3 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share The components of basic and diluted earnings per share were as follows: (in millions, except per share data) Three Months Ended 2022 2021 Net income attributable to Franklin Resources, Inc. $ 165.6 $ 453.2 Less: allocation of earnings to participating nonvested stock and stock unit awards 7.7 19.3 Net Income Available to Common Stockholders $ 157.9 $ 433.9 Weighted-average shares outstanding – basic 489.6 489.8 Dilutive effect of nonparticipating nonvested stock unit awards 0.6 0.8 Weighted-Average Shares Outstanding – Diluted 490.2 490.6 Earnings per Share Basic $ 0.32 $ 0.89 Diluted 0.32 0.88 Nonparticipating nonvested stock unit awards excluded from the calculation of diluted earnings per share because their effect would have been antidilutive were insignificant for the three months ended December 31, 2022 and 2021.

Revenues

Revenues	3 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Operating revenues by geographic area were as follows: (in millions) United States Luxembourg Asia-Pacific Americas Europe, Total for the three months ended December 31, 2022 Investment management fees $ 1,274.8 $ 181.8 $ 67.6 $ 51.8 $ 55.8 $ 1,631.8 Sales and distribution fees 208.2 68.4 5.0 10.3 — 291.9 Shareholder servicing fees 25.3 7.7 0.4 — — 33.4 Other 9.7 — 0.3 — — 10.0 Total $ 1,518.0 $ 257.9 $ 73.3 $ 62.1 $ 55.8 $ 1,967.1 (in millions) United States Luxembourg Asia-Pacific Americas Europe, Total for the three months ended December 31, 2021 Investment management fees $ 1,284.0 $ 258.4 $ 81.8 $ 70.3 $ 66.0 $ 1,760.5 Sales and distribution fees 278.4 98.8 7.6 13.4 — 398.2 Shareholder servicing fees 36.8 10.1 0.4 0.1 0.3 47.7 Other 17.1 0.3 0.2 — — 17.6 Total $ 1,616.3 $ 367.6 $ 90.0 $ 83.8 $ 66.3 $ 2,224.0 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. Revenues earned from sponsored funds were 83% and 81% of the Company’s total operating revenues for the three months ended December 31, 2022 and 2021.

Investments

Investments	3 Months Ended
	Dec. 31, 2022
Investments [Abstract]
Investments	Investments The disclosures below include details of the Company’s investments, excluding those of consolidated investment products (“CIPs”). See Note 7 – Consolidated Investment Products for information related to the investments held by these entities. Investments consisted of the following: (in millions) December 31, September 30, Investments, at fair value Sponsored funds and separate accounts $ 708.9 $ 413.0 Investments related to long-term incentive plans 213.9 143.3 Other equity and debt investments 46.8 57.2 Total investments, at fair value 969.6 613.5 Investments in equity method investees 830.7 771.5 Other investments 245.5 266.3 Total $ 2,045.8 $ 1,651.3

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Dec. 31, 2022
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 7 – Consolidated Investment Products for information related to fair value measurements of the assets and liabilities of these entities. The assets and liabilities measured at fair value on a recurring basis were as follows: (in millions) Level 1 Level 2 Level 3 NAV as a Total as of December 31, 2022 Assets Investments, at fair value Sponsored funds and separate accounts $ 366.8 $ 275.7 $ 18.7 $ 47.7 $ 708.9 Investments related to long-term incentive plans 192.2 — — 21.7 213.9 Other equity and debt investments 3.0 11.3 — 32.5 46.8 Contingent consideration asset — — 6.9 — 6.9 Total Assets Measured at Fair Value $ 562.0 $ 287.0 $ 25.6 $ 101.9 $ 976.5 Liabilities Contingent consideration liabilities $ — $ — $ 53.8 $ — $ 53.8 (in millions) Level 1 Level 2 Level 3 NAV as a Total as of September 30, 2022 Assets Investments, at fair value Sponsored funds and separate accounts $ 289.5 $ 55.4 $ 14.1 $ 54.0 $ 413.0 Investments related to long-term incentive plans 143.3 — — — 143.3 Other equity and debt investments 3.1 19.4 2.7 32.0 57.2 Contingent consideration asset — — 9.8 — 9.8 Total Assets Measured at Fair Value $ 435.9 $ 74.8 $ 26.6 $ 86.0 $ 623.3 Liabilities Contingent consideration liabilities $ — $ — $ 31.6 $ — $ 31.6 Investments for which fair value was estimated using reported NAV as a practical expedient primarily consist of nonredeemable private debt, equity and infrastructure funds, and redeemable global equity and private real estate funds. These investments were as follows: (in millions) December 31, September 30, Nonredeemable investments 1 Investments with known liquidation periods $ 31.7 $ 32.8 Investments with unknown liquidation periods 21.9 29.4 Redeemable investments 2 48.3 23.8 Unfunded commitments 51.4 51.4 _______________ 1 The investments are expected to be returned through distributions over the life of the funds as a result of liquidations of the funds’ underlying assets. Investments with known liquidation periods have an expected weighted-average life of 3.5 years and 3.4 years at December 31, 2022 and September 30, 2022. 2 Investments are redeemable on a semi-monthly, monthly and quarterly basis. Financial instruments that were not measured at fair value were as follows: (in millions) Fair Value December 31, 2022 September 30, 2022 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Assets Cash and cash equivalents 1 $ 3,547.8 $ 3,547.8 $ 4,134.9 $ 4,134.9 Other investments Time deposits 2 10.7 10.7 9.4 9.4 Equity securities 3 234.8 234.8 256.9 256.9 Financial Liability Debt 2 $ 3,370.5 $ 2,792.4 $ 3,376.4 $ 2,750.1

Consolidated Investment Product

Consolidated Investment Products	3 Months Ended
	Dec. 31, 2022
Consolidated Investment Products [Abstract]
Consolidated Investment Products	Consolidated Investment Products CIPs consist of mutual and other investment funds, limited partnerships and similar structures and CLOs, all of which are sponsored by the Company, and include both voting interest entities and variable interest entities (“VIEs”). The Company had 62 CIPs, including 16 CLOs, as of December 31, 2022 and 59 CIPs, including 15 CLOs, as of September 30, 2022. The balances related to CIPs included in the Company’s consolidated balance sheets were as follows: (in millions) December 31, September 30, Assets Cash and cash equivalents $ 954.4 $ 647.6 Receivables 91.6 134.0 Investments, at fair value 8,735.6 7,898.1 Total Assets $ 9,781.6 $ 8,679.7 Liabilities Accounts payable and accrued expenses $ 594.3 $ 646.9 Debt 6,164.5 5,457.7 Other liabilities 21.1 175.0 Total liabilities 6,779.9 6,279.6 Redeemable Noncontrolling Interests 1,379.7 942.2 Stockholders ’ Equity Franklin Resources, Inc.’s interests 1,052.5 960.8 Nonredeemable noncontrolling interests 569.5 497.1 Total stockholders’ equity 1,622.0 1,457.9 Total Liabilities, Redeemable Noncontrolling Interests and Stockholders ’ Equity $ 9,781.6 $ 8,679.7 The CIPs did not have a significant impact on net income attributable to the Company during the three months ended December 31, 2022 and 2021. 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. Fair Value Measurements Assets of CIPs measured at fair value on a recurring basis were as follows: (in millions) Level 1 Level 2 Level 3 NAV as a Total as of December 31, 2022 Assets Cash and cash equivalents of CLOs $ 494.3 $ — $ — $ — $ 494.3 Receivables of CLOs — 18.8 — — 18.8 Investments Equity and debt securities 360.7 1,068.3 555.8 147.6 2,132.4 Loans — 6,180.5 64.7 — 6,245.2 Real estate — — 358.0 — 358.0 Total Assets Measured at Fair Value $ 855.0 $ 7,267.6 $ 978.5 $ 147.6 $ 9,248.7 (in millions) Level 1 Level 2 Level 3 NAV as a Total as of September 30, 2022 Assets Cash and cash equivalents of CLOs $ 269.1 $ — $ — $ — $ 269.1 Receivables of CLOs — 67.4 — — 67.4 Investments Equity and debt securities 75.4 881.0 555.8 173.5 1,685.7 Loans — 5,704.4 239.4 — 5,943.8 Real estate — — 268.6 — 268.6 Total Assets Measured at Fair Value $ 344.5 $ 6,652.8 $ 1,063.8 $ 173.5 $ 8,234.6 Investments for which fair value was estimated using reported NAV as a practical expedient consist of a redeemable global hedge fund, a redeemable U.S. equity fund and nonredeemable private equity funds. These investments were as follows: (in millions) December 31, September 30, Nonredeemable investments 1 Investments with known liquidation periods $ 3.1 $ 19.5 Investments with unknown liquidation periods 20.0 12.0 Redeemable investments 2 124.5 142.0 Unfunded commitments 3 0.2 0.2 _______________ 1 The investments are expected to be returned through distributions over the life of the funds as a result of liquidations of the funds’ underlying assets. Investments with known liquidation periods have an expected weighted-average life of 0.3 years at December 31, 2022 and September 30, 2022. 2 Investments are redeemable on a monthly basis and liquidation periods are unknown. 3 Of the total unfunded commitments, the Company was contractually obligated to fund $0.1 million based on its ownership percentage in the CIPs, at December 31, 2022 and September 30, 2022. Changes in Level 3 assets were as follows: (in millions) Equity and Debt Real Estate Loans Total for the three months ended December 31, 2022 Balance at October 1, 2022 $ 555.8 $ 268.6 $ 239.4 $ 1,063.8 Realized and unrealized gains (losses) included in investment and other income (losses) of consolidated investment products, net (6.3) 3.7 0.1 (2.5) Purchases 9.0 85.7 27.5 122.2 Sales and settlements (5.6) — (0.2) (5.8) Deconsolidations 2.9 — (202.1) (199.2) Balance at December 31, 2022 $ 555.8 $ 358.0 $ 64.7 $ 978.5 Change in unrealized gains included in net income relating to assets held at December 31, 2022 $ 2.0 $ 3.7 $ 0.1 $ 5.8 (in millions) Equity and Debt Real Estate Loans Total for the three months ended December 31, 2021 Balance at October 1, 2021 $ 453.3 $ 89.4 $ 20.5 $ 563.2 Realized and unrealized gains included in investment and other income (losses) of consolidated investment products, net 92.3 8.6 0.3 101.2 Purchases 18.2 0.9 14.0 33.1 Sales and settlements (23.9) — (0.6) (24.5) Transfers into Level 3 0.1 — — 0.1 Transfers out of Level 3 (1.0) — — (1.0) Balance at December 31, 2021 $ 539.0 $ 98.9 $ 34.2 $ 672.1 Change in unrealized gains included in net income relating to assets held at December 31, 2021 $ 92.5 $ 8.6 $ 0.3 $ 101.4 Valuation techniques and significant unobservable inputs used in Level 3 fair value measurements were as follows: (in millions) as of December 31, 2022 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Equity and debt securities $ 555.8 Market pricing Private sale pricing $0.01–$1,000.00 ($39.93) per share Discount for lack of liquidity 23.5%–25.1% (24.9%) Real estate 358.0 Discounted cash flow Discount rate 5.5%–6.8% (6.2%) Exit capitalization rate 4.5%–6.3% (5.2%) Loans 64.7 Yield capitalization Credit Spread 6.0%–7.3% (6.5%) Loan to value ratio 64.6%–77.2% (70.2%) (in millions) as of September 30, 2022 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Equity and debt securities $ 555.8 Market pricing Private sale pricing $0.01-$558.45 ($33.31) per share Discount for lack of liquidity 23.5%–25.1% (24.9%) Real estate 268.6 Discounted cash flow Discount rate 4.5%–6.3% (5.1%) Exit capitalization rate 5.5%–6.8% (6.0%) Loans 147.2 Market pricing Price $0.97–$0.98 ($0.98) 60.4 Discounted cash flow Discount rate 9.9% 31.9 Yield capitalization Credit spread 6.3% Loan-to-value ratio 79.1%–88.1% (83.1%) __________________ 1 Based on the relative fair value of the instruments. If the relevant significant inputs used in the market-based valuations, other than discount for lack of marketability, were independently higher (lower) as of December 31, 2022, the resulting fair value of the assets would be higher (lower). If the relevant significant inputs used in the discounted cash flow valuations, as well as the discount for lack of marketability used in the market-based valuations, were independently higher (lower) as of December 31, 2022, 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 December 31, 2022 September 30, 2022 Carrying Estimated Carrying Estimated Financial Asset Cash and cash equivalents 1 $ 460.1 $ 460.1 $ 378.5 $ 378.5 Financial Liabilities Debt of CLOs 1 2 or 3 $ 6,102.3 $ 6,208.1 $ 5,408.0 $ 5,548.8 Other debt 3 62.2 52.3 49.7 42.4 __________________ 1 Substantially all was Level 2. Debt Debt of CIPs consisted of the following: December 31, 2022 September 30, 2022 (in millions) Amount Weighted- Amount Weighted- Debt of CLOs $ 6,102.3 4.42% $ 5,408.0 2.78% Other debt 62.2 5.18% 49.7 5.19% Total $ 6,164.5 $ 5,457.7 The debt of CIPs had fixed and floating interest rates ranging from 2.17% to 13.73% at December 31, 2022, and from 1.42% to 8.51% at September 30, 2022. The floating rates were based on Bloomberg Short-Term Bank Yield Index. The contractual maturities for the debt of CIPs at December 31, 2022 were as follows: (in millions) for the fiscal years ending September 30, Amount 2023 (remainder of year) $ 7.2 2024 42.0 2025 — 2026 — 2027 — Thereafter 6,115.3 Total $ 6,164.5 Collateralized Loan Obligations The unpaid principal balance and fair value of the investments of CLOs were as follows: (in millions) December 31, September 30, Unpaid principal balance $ 6,613.4 $ 6,118.4 Difference between unpaid principal balance and fair value (354.1) (356.1) Fair Value $ 6,259.3 $ 5,762.3 Investments 90 days or more past due were immaterial at December 31, 2022 and September 30, 2022. The Company recognized $2.3 million of net losses and $5.3 million of net gains during the three months ended December 31, 2022 and 2021, related to its own economic interests in the CLOs. The aggregate principal amount due of the debt of CLOs was $6,466.2 million and $5,781.3 million at December 31, 2022 and September 30, 2022.

Redeemable Noncontrolling Inter

Redeemable Noncontrolling Interests	3 Months Ended
	Dec. 31, 2022
Noncontrolling Interest [Abstract]
Noncontrolling Interest Disclosure	Redeemable Noncontrolling Interests Changes in redeemable noncontrolling interests were as follows: (in millions) 2022 2021 CIPs Minority Interests Total CIPs Minority Interests Total for the three months ended December 31, Balance at beginning of period $ 942.2 $ 583.6 $ 1,525.8 $ 622.5 $ 310.5 $ 933.0 Net income (loss) (12.2) 10.7 (1.5) (4.8) 12.3 7.5 Net subscriptions (distributions) and other 178.4 5.2 183.6 166.3 (1.9) 164.4 Net consolidations (deconsolidations) 271.3 — 271.3 (121.5) — (121.5) Balance at End of Period $ 1,379.7 $ 599.5 $ 1,979.2 $ 662.5 $ 320.9 $ 983.4

Nonconsolidated Variable Intere

Nonconsolidated Variable Interest Entities	3 Months Ended
	Dec. 31, 2022
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, investment management and other fee receivables as follows: (in millions) December 31, September 30, Investments $ 1,029.5 $ 718.0 Receivables 193.0 165.4 Total $ 1,222.5 $ 883.4 While the Company has no legal or contractual obligation to do so, it routinely makes cash investments in the course of launching sponsored funds. As it has done in the past, 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 assessed as VIEs during the three months ended December 31, 2022 or fiscal year 2022.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings India Credit Fund Closure Matters . During the three months ended December 31, 2022, there were no significant changes from the disclosure in the Form 10‑K for the fiscal year ended September 30, 2022. As of December 31, 2022, the amount reported as distributed to fund unitholders in the aggregate is INR 26,843.0 crore (approximately $3.2 billion). Other Litigation Matters. The Company is from time to time involved in other litigation relating to claims arising in the normal course of business. Management is of the opinion that the ultimate resolution of such claims will not materially affect the Company’s business, financial position, results of operations or liquidity. In management’s opinion, an adequate accrual has been made as of December 31, 2022 to provide for any probable losses that may arise from such matters for which the Company could reasonably estimate an amount. Indemnifications and Guarantees In the ordinary course of business or in connection with certain acquisition agreements, the Company enters into contracts that provide for indemnifications by the Company in certain circumstances. In addition, certain Company entities guarantee certain financial and performance-related obligations of various Franklin subsidiaries. The Company is also subject to certain legal requirements and agreements providing for indemnifications of directors, officers and personnel against liabilities and expenses they may incur under certain circumstances in connection with their service. The terms of these indemnities and guarantees vary pursuant to applicable facts and circumstances, and from agreement to agreement. Future payments for claims against the Company under these indemnities or guarantees could negatively impact the Company’s financial condition. In management’s opinion, no material loss was deemed probable or reasonably possible pursuant to such indemnification agreements and/or guarantees as of December 31, 2022. Other Commitments and Contingencies At December 31, 2022, there were no material changes in the other commitments and contingencies as reported in the Company’s Annual Report on Form 10-K for fiscal year 2022.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Dec. 31, 2022
Share-based Payment Arrangement, Noncash Expense [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock and stock unit award activity was as follows: (shares in thousands) Time-Based Performance- Total Weighted- for the three months ended December 31, 2022 Nonvested balance at October 1, 2022 13,492 3,401 16,893 $ 24.04 Granted 6,848 191 7,039 22.51 Vested (1,277) (138) (1,415) 23.85 Forfeited/canceled (219) (30) (249) 26.79 Nonvested Balance at December 31, 2022 18,844 3,424 22,268 $ 23.54 Total unrecognized compensation expense related to nonvested stock and stock unit awards was $330.8 million at December 31, 2022. This expense is expected to be recognized over a remaining weighted-average vesting period of 2.0 years.

Investment and Other Income, Ne

Investment and Other Income, Net	3 Months Ended
	Dec. 31, 2022
Other Income and Expenses [Abstract]
Other Income (Expenses)	Investment and Other Income, Net Investment and other income, net consisted of the following: Three Months Ended (in millions) 2022 2021 Dividend and interest income $ 36.5 $ 6.1 Gains on investments, net 45.5 25.8 Income from investments in equity method investees 33.2 24.7 Rental income 10.6 9.7 Foreign currency exchange (losses) gains, net (27.1) 3.9 Other, net (7.6) (13.2) Investment and other income, net $ 91.1 $ 57.0 Net losses recognized on equity securities measured at fair value and trading debt securities that were held by the Company were $68.3 million for the three months ended December 31, 2022, and $4.4 million for the three months ended December 31, 2021.

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of preliminary allocation of estimated fair values	The following table summarizes the estimated fair value amounts recognized for the assets acquired and liabilities assumed and resulting goodwill as of the acquisition date: (in millions) Estimated Fair Value as of November 1, 2022 Cash and cash equivalents $ 93.6 Receivables 57.2 Investments 285.3 Goodwill 152.6 Indefinite-lived intangible assets 89.9 Definite-lived intangible assets 55.7 Other assets 9.0 Compensation and benefits and other liabilities (71.0) Total Identifiable Net Assets $ 672.3
Schedule of Definite-Lived Intangible Assets, Remaining Amortization Expense	These assets had a weighted-average remaining useful life of 5.1 years at December 31, 2022, with estimated remaining amortization expense as follows: (in millions) for the fiscal years ending September 30, Amount 2023 (remainder of year) $ 10.5 2024 14.0 2025 14.0 2026 3.9 2027 2.9 Thereafter 8.1 Total $ 53.4

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Components of basic and diluted earnings per share	The components of basic and diluted earnings per share were as follows: (in millions, except per share data) Three Months Ended 2022 2021 Net income attributable to Franklin Resources, Inc. $ 165.6 $ 453.2 Less: allocation of earnings to participating nonvested stock and stock unit awards 7.7 19.3 Net Income Available to Common Stockholders $ 157.9 $ 433.9 Weighted-average shares outstanding – basic 489.6 489.8 Dilutive effect of nonparticipating nonvested stock unit awards 0.6 0.8 Weighted-Average Shares Outstanding – Diluted 490.2 490.6 Earnings per Share Basic $ 0.32 $ 0.89 Diluted 0.32 0.88

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Operating revenues by geographic area	Operating revenues by geographic area were as follows: (in millions) United States Luxembourg Asia-Pacific Americas Europe, Total for the three months ended December 31, 2022 Investment management fees $ 1,274.8 $ 181.8 $ 67.6 $ 51.8 $ 55.8 $ 1,631.8 Sales and distribution fees 208.2 68.4 5.0 10.3 — 291.9 Shareholder servicing fees 25.3 7.7 0.4 — — 33.4 Other 9.7 — 0.3 — — 10.0 Total $ 1,518.0 $ 257.9 $ 73.3 $ 62.1 $ 55.8 $ 1,967.1 (in millions) United States Luxembourg Asia-Pacific Americas Europe, Total for the three months ended December 31, 2021 Investment management fees $ 1,284.0 $ 258.4 $ 81.8 $ 70.3 $ 66.0 $ 1,760.5 Sales and distribution fees 278.4 98.8 7.6 13.4 — 398.2 Shareholder servicing fees 36.8 10.1 0.4 0.1 0.3 47.7 Other 17.1 0.3 0.2 — — 17.6 Total $ 1,616.3 $ 367.6 $ 90.0 $ 83.8 $ 66.3 $ 2,224.0

Investments (Tables)

Investments (Tables)	3 Months Ended
	Dec. 31, 2022
Investments [Abstract]
Summary of investments	Investments consisted of the following: (in millions) December 31, September 30, Investments, at fair value Sponsored funds and separate accounts $ 708.9 $ 413.0 Investments related to long-term incentive plans 213.9 143.3 Other equity and debt investments 46.8 57.2 Total investments, at fair value 969.6 613.5 Investments in equity method investees 830.7 771.5 Other investments 245.5 266.3 Total $ 2,045.8 $ 1,651.3

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value on a recurring basis	The assets and liabilities measured at fair value on a recurring basis were as follows: (in millions) Level 1 Level 2 Level 3 NAV as a Total as of December 31, 2022 Assets Investments, at fair value Sponsored funds and separate accounts $ 366.8 $ 275.7 $ 18.7 $ 47.7 $ 708.9 Investments related to long-term incentive plans 192.2 — — 21.7 213.9 Other equity and debt investments 3.0 11.3 — 32.5 46.8 Contingent consideration asset — — 6.9 — 6.9 Total Assets Measured at Fair Value $ 562.0 $ 287.0 $ 25.6 $ 101.9 $ 976.5 Liabilities Contingent consideration liabilities $ — $ — $ 53.8 $ — $ 53.8 (in millions) Level 1 Level 2 Level 3 NAV as a Total as of September 30, 2022 Assets Investments, at fair value Sponsored funds and separate accounts $ 289.5 $ 55.4 $ 14.1 $ 54.0 $ 413.0 Investments related to long-term incentive plans 143.3 — — — 143.3 Other equity and debt investments 3.1 19.4 2.7 32.0 57.2 Contingent consideration asset — — 9.8 — 9.8 Total Assets Measured at Fair Value $ 435.9 $ 74.8 $ 26.6 $ 86.0 $ 623.3 Liabilities Contingent consideration liabilities $ — $ — $ 31.6 $ — $ 31.6
Schedule of investments measured at NAV	Investments for which fair value was estimated using reported NAV as a practical expedient primarily consist of nonredeemable private debt, equity and infrastructure funds, and redeemable global equity and private real estate funds. These investments were as follows: (in millions) December 31, September 30, Nonredeemable investments 1 Investments with known liquidation periods $ 31.7 $ 32.8 Investments with unknown liquidation periods 21.9 29.4 Redeemable investments 2 48.3 23.8 Unfunded commitments 51.4 51.4
Schedule of financial instruments not measured at fair value	Financial instruments that were not measured at fair value were as follows: (in millions) Fair Value December 31, 2022 September 30, 2022 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Assets Cash and cash equivalents 1 $ 3,547.8 $ 3,547.8 $ 4,134.9 $ 4,134.9 Other investments Time deposits 2 10.7 10.7 9.4 9.4 Equity securities 3 234.8 234.8 256.9 256.9 Financial Liability Debt 2 $ 3,370.5 $ 2,792.4 $ 3,376.4 $ 2,750.1

Consolidated Investment Produ_2

Consolidated Investment Products (Tables)	3 Months Ended
	Dec. 31, 2022
Consolidated Investment Products [Abstract]
Schedule of balances of CIPs	The balances related to CIPs included in the Company’s consolidated balance sheets were as follows: (in millions) December 31, September 30, Assets Cash and cash equivalents $ 954.4 $ 647.6 Receivables 91.6 134.0 Investments, at fair value 8,735.6 7,898.1 Total Assets $ 9,781.6 $ 8,679.7 Liabilities Accounts payable and accrued expenses $ 594.3 $ 646.9 Debt 6,164.5 5,457.7 Other liabilities 21.1 175.0 Total liabilities 6,779.9 6,279.6 Redeemable Noncontrolling Interests 1,379.7 942.2 Stockholders ’ Equity Franklin Resources, Inc.’s interests 1,052.5 960.8 Nonredeemable noncontrolling interests 569.5 497.1 Total stockholders’ equity 1,622.0 1,457.9 Total Liabilities, Redeemable Noncontrolling Interests and Stockholders ’ Equity $ 9,781.6 $ 8,679.7
Schedule of assets measured at fair value on a recurring basis	Assets of CIPs measured at fair value on a recurring basis were as follows: (in millions) Level 1 Level 2 Level 3 NAV as a Total as of December 31, 2022 Assets Cash and cash equivalents of CLOs $ 494.3 $ — $ — $ — $ 494.3 Receivables of CLOs — 18.8 — — 18.8 Investments Equity and debt securities 360.7 1,068.3 555.8 147.6 2,132.4 Loans — 6,180.5 64.7 — 6,245.2 Real estate — — 358.0 — 358.0 Total Assets Measured at Fair Value $ 855.0 $ 7,267.6 $ 978.5 $ 147.6 $ 9,248.7 (in millions) Level 1 Level 2 Level 3 NAV as a Total as of September 30, 2022 Assets Cash and cash equivalents of CLOs $ 269.1 $ — $ — $ — $ 269.1 Receivables of CLOs — 67.4 — — 67.4 Investments Equity and debt securities 75.4 881.0 555.8 173.5 1,685.7 Loans — 5,704.4 239.4 — 5,943.8 Real estate — — 268.6 — 268.6 Total Assets Measured at Fair Value $ 344.5 $ 6,652.8 $ 1,063.8 $ 173.5 $ 8,234.6
Schedule of CIPs investments measured at NAV	Investments for which fair value was estimated using reported NAV as a practical expedient consist of a redeemable global hedge fund, a redeemable U.S. equity fund and nonredeemable private equity funds. These investments were as follows: (in millions) December 31, September 30, Nonredeemable investments 1 Investments with known liquidation periods $ 3.1 $ 19.5 Investments with unknown liquidation periods 20.0 12.0 Redeemable investments 2 124.5 142.0 Unfunded commitments 3 0.2 0.2
Schedule of changes in Level 3 assets of CIPs	Changes in Level 3 assets were as follows: (in millions) Equity and Debt Real Estate Loans Total for the three months ended December 31, 2022 Balance at October 1, 2022 $ 555.8 $ 268.6 $ 239.4 $ 1,063.8 Realized and unrealized gains (losses) included in investment and other income (losses) of consolidated investment products, net (6.3) 3.7 0.1 (2.5) Purchases 9.0 85.7 27.5 122.2 Sales and settlements (5.6) — (0.2) (5.8) Deconsolidations 2.9 — (202.1) (199.2) Balance at December 31, 2022 $ 555.8 $ 358.0 $ 64.7 $ 978.5 Change in unrealized gains included in net income relating to assets held at December 31, 2022 $ 2.0 $ 3.7 $ 0.1 $ 5.8 (in millions) Equity and Debt Real Estate Loans Total for the three months ended December 31, 2021 Balance at October 1, 2021 $ 453.3 $ 89.4 $ 20.5 $ 563.2 Realized and unrealized gains included in investment and other income (losses) of consolidated investment products, net 92.3 8.6 0.3 101.2 Purchases 18.2 0.9 14.0 33.1 Sales and settlements (23.9) — (0.6) (24.5) Transfers into Level 3 0.1 — — 0.1 Transfers out of Level 3 (1.0) — — (1.0) Balance at December 31, 2021 $ 539.0 $ 98.9 $ 34.2 $ 672.1 Change in unrealized gains included in net income relating to assets held at December 31, 2021 $ 92.5 $ 8.6 $ 0.3 $ 101.4
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 December 31, 2022 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Equity and debt securities $ 555.8 Market pricing Private sale pricing $0.01–$1,000.00 ($39.93) per share Discount for lack of liquidity 23.5%–25.1% (24.9%) Real estate 358.0 Discounted cash flow Discount rate 5.5%–6.8% (6.2%) Exit capitalization rate 4.5%–6.3% (5.2%) Loans 64.7 Yield capitalization Credit Spread 6.0%–7.3% (6.5%) Loan to value ratio 64.6%–77.2% (70.2%) (in millions) as of September 30, 2022 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Equity and debt securities $ 555.8 Market pricing Private sale pricing $0.01-$558.45 ($33.31) per share Discount for lack of liquidity 23.5%–25.1% (24.9%) Real estate 268.6 Discounted cash flow Discount rate 4.5%–6.3% (5.1%) Exit capitalization rate 5.5%–6.8% (6.0%) Loans 147.2 Market pricing Price $0.97–$0.98 ($0.98) 60.4 Discounted cash flow Discount rate 9.9% 31.9 Yield capitalization Credit spread 6.3% Loan-to-value ratio 79.1%–88.1% (83.1%)
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 December 31, 2022 September 30, 2022 Carrying Estimated Carrying Estimated Financial Asset Cash and cash equivalents 1 $ 460.1 $ 460.1 $ 378.5 $ 378.5 Financial Liabilities Debt of CLOs 1 2 or 3 $ 6,102.3 $ 6,208.1 $ 5,408.0 $ 5,548.8 Other debt 3 62.2 52.3 49.7 42.4
Schedule of debt of CIPs	Debt of CIPs consisted of the following: December 31, 2022 September 30, 2022 (in millions) Amount Weighted- Amount Weighted- Debt of CLOs $ 6,102.3 4.42% $ 5,408.0 2.78% Other debt 62.2 5.18% 49.7 5.19% Total $ 6,164.5 $ 5,457.7
Schedule of contractual maturities for debt of CIPs	The contractual maturities for the debt of CIPs at December 31, 2022 were as follows: (in millions) for the fiscal years ending September 30, Amount 2023 (remainder of year) $ 7.2 2024 42.0 2025 — 2026 — 2027 — Thereafter 6,115.3 Total $ 6,164.5
Schedule of unpaid principal balance and fair value of investments of CLOs	The unpaid principal balance and fair value of the investments of CLOs were as follows: (in millions) December 31, September 30, Unpaid principal balance $ 6,613.4 $ 6,118.4 Difference between unpaid principal balance and fair value (354.1) (356.1) Fair Value $ 6,259.3 $ 5,762.3

Redeemable Noncontrolling Int_2

Redeemable Noncontrolling Interests (Tables)	3 Months Ended
	Dec. 31, 2022
Noncontrolling Interest [Abstract]
Schedule of changes in redeemable noncontrolling interests of CIPs	Changes in redeemable noncontrolling interests were as follows: (in millions) 2022 2021 CIPs Minority Interests Total CIPs Minority Interests Total for the three months ended December 31, Balance at beginning of period $ 942.2 $ 583.6 $ 1,525.8 $ 622.5 $ 310.5 $ 933.0 Net income (loss) (12.2) 10.7 (1.5) (4.8) 12.3 7.5 Net subscriptions (distributions) and other 178.4 5.2 183.6 166.3 (1.9) 164.4 Net consolidations (deconsolidations) 271.3 — 271.3 (121.5) — (121.5) Balance at End of Period $ 1,379.7 $ 599.5 $ 1,979.2 $ 662.5 $ 320.9 $ 983.4

Nonconsolidated Variable Inte_2

Nonconsolidated Variable Interest Entities (Tables)	3 Months Ended
	Dec. 31, 2022
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, investment management and other fee receivables as follows: (in millions) December 31, September 30, Investments $ 1,029.5 $ 718.0 Receivables 193.0 165.4 Total $ 1,222.5 $ 883.4

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Dec. 31, 2022
Share-based Payment Arrangement, Noncash Expense [Abstract]
Summary of stock and stock unit award activity	Stock and stock unit award activity was as follows: (shares in thousands) Time-Based Performance- Total Weighted- for the three months ended December 31, 2022 Nonvested balance at October 1, 2022 13,492 3,401 16,893 $ 24.04 Granted 6,848 191 7,039 22.51 Vested (1,277) (138) (1,415) 23.85 Forfeited/canceled (219) (30) (249) 26.79 Nonvested Balance at December 31, 2022 18,844 3,424 22,268 $ 23.54

Investment and Other Income, _2

Investment and Other Income, Net (Tables)	3 Months Ended
	Dec. 31, 2022
Other Income and Expenses [Abstract]
Schedule of investment and other income (losses), net	Investment and other income, net consisted of the following: Three Months Ended (in millions) 2022 2021 Dividend and interest income $ 36.5 $ 6.1 Gains on investments, net 45.5 25.8 Income from investments in equity method investees 33.2 24.7 Rental income 10.6 9.7 Foreign currency exchange (losses) gains, net (27.1) 3.9 Other, net (7.6) (13.2) Investment and other income, net $ 91.1 $ 57.0

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) € in Millions, $ in Millions		3 Months Ended
	Nov. 01, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2022 EUR (€)	Sep. 30, 2022 USD ($)
Business Acquisition [Line Items]
Amortization of intangible assets		$ 83.2	$ 58.3
Goodwill		5,942.8			$ 5,778.6
Payments to Acquire Investments		234.4	$ 321.7
BNY Alcentra Group Holdings Inc
Business Acquisition [Line Items]
Cash purchase consideration	$ 587.3
PlannedPaymentsToAcquireBusinessesGross	60.4
Business Combination, Consideration Transferred, Liabilities Incurred	24.6
Amortization of intangible assets		$ 2.3
Definite-lived Intangible Assets, Weighted Average Useful Life		5 years 1 month 6 days
Acquisition Related Costs		$ 14.1
Proforma Revenue		27.7
Goodwill	152.6
Contingent consideration liabilities	350
Securities Borrowed, Fair Value of Collateral		198.9
Payments to Acquire Investments	$ 188.3
BNY Alcentra Group Holdings Inc | Alcentra's repurchase agreement - Euro
Business Acquisition [Line Items]
Securities Sold under Agreements to Repurchase		134
Total Contractual Maturity | €				€ 132.3
BNY Alcentra Group Holdings Inc | Alcentra's repurchase agreement - USD
Business Acquisition [Line Items]
Securities Sold under Agreements to Repurchase		40.8
Total Contractual Maturity		$ 42.4
BNY Alcentra Group Holdings Inc | Minimum [Member]
Business Acquisition [Line Items]
Intangible assets, estimated useful lives		3 years
BNY Alcentra Group Holdings Inc | Maximum [Member]
Business Acquisition [Line Items]
Intangible assets, estimated useful lives		10 years

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Millions	Dec. 31, 2022	Nov. 01, 2022	Sep. 30, 2022
Business Acquisition [Line Items]
Goodwill	$ 5,942.8		$ 5,778.6
BNY Alcentra Group Holdings Inc
Business Acquisition [Line Items]
Cash and cash equivalents		$ 93.6
Receivables		57.2
Investments		285.3
Goodwill		152.6
Indefinite-lived intangible assets		89.9
Definite-lived intangible assets		55.7
Other assets		9
Compensation and benefits and other liabilities		(71)
Total Identifiable Net Assets		$ 672.3
Acquired Finite-Lived Intangible Assets [Line Items]
2023 (remainder of year)	10.5
2024	14
2025	14
2026	3.9
2027	2.9
Thereafter	8.1
Total	$ 53.4

Earnings per Share - Components

Earnings per Share - Components of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share Reconciliation [Abstract]
Net income attributable to Franklin Resources, Inc.	$ 165.6	$ 453.2
Less: allocation of earnings to participating nonvested stock and stock unit awards - basic	7.7	19.3
Less: allocation of earnings to participating nonvested stock and stock unit awards - diluted	7.7	19.3
Net Income Available to Common Stockholders - basic	157.9	433.9
Net Income Available to Common Stockholders - diluted	$ 157.9	$ 433.9
Weighted-average shares outstanding – basic	489.6	489.8
Dilutive effect of nonparticipating nonvested stock unit awards	0.6	0.8
Weighted-Average Shares Outstanding – Diluted	490.2	490.6
Earnings per Share [Abstract]
Basic	$ 0.32	$ 0.89
Diluted	$ 0.32	$ 0.88

Revenues Narratives (Details)

Revenues Narratives (Details)	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue From Sponsored Funds	83%	81%

Revenues - Schedule of Operatin

Revenues - Schedule of Operating Revenues by Geographic Area (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	$ 1,967.1	$ 2,224
Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	1,631.8	1,760.5
Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	291.9	398.2
Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	33.4	47.7
Other [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	10	17.6
United States [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	1,518	1,616.3
United States [Member] | Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	1,274.8	1,284
United States [Member] | Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	208.2	278.4
United States [Member] | Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	25.3	36.8
United States [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	9.7	17.1
Luxembourg [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	257.9	367.6
Luxembourg [Member] | Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	181.8	258.4
Luxembourg [Member] | Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	68.4	98.8
Luxembourg [Member] | Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	7.7	10.1
Luxembourg [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	0	0.3
Asia-Pacific [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	73.3	90
Asia-Pacific [Member] | Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	67.6	81.8
Asia-Pacific [Member] | Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	5	7.6
Asia-Pacific [Member] | Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	0.4	0.4
Asia-Pacific [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	0.3	0.2
Americas Excluding United States [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	62.1	83.8
Americas Excluding United States [Member] | Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	51.8	70.3
Americas Excluding United States [Member] | Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	10.3	13.4
Americas Excluding United States [Member] | Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	0	0.1
Americas Excluding United States [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	0	0
Europe, Middle East and Africa, Excluding Luxembourg [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	55.8	66.3
Europe, Middle East and Africa, Excluding Luxembourg [Member] | Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	55.8	66
Europe, Middle East and Africa, Excluding Luxembourg [Member] | Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	0	0
Europe, Middle East and Africa, Excluding Luxembourg [Member] | Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	0	0.3
Europe, Middle East and Africa, Excluding Luxembourg [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	$ 0	$ 0

Investments - Summary of Invest

Investments - Summary of Investments (Details) - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022
Investment Holdings [Line Items]
Total investments, at fair value	$ 969.6	$ 613.5
Investments in equity method investees	830.7	771.5
Other investments	245.5	266.3
Total	2,045.8	1,651.3
Sponsored funds and separate accounts [Member]
Investment Holdings [Line Items]
Investments, at fair value	708.9	413
Investments related to long-term incentive plans [Member]
Investment Holdings [Line Items]
Investments, at fair value	213.9	143.3
Other equity and debt investments [Member]
Investment Holdings [Line Items]
Investments, at fair value	$ 46.8	$ 57.2

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022
Sponsored funds and separate accounts [Member]
Assets [Abstract]
Investments, at fair value	$ 708.9	$ 413
Investments related to long-term incentive plans [Member]
Assets [Abstract]
Investments, at fair value	213.9	143.3
Other equity and debt investments [Member]
Assets [Abstract]
Investments, at fair value	46.8	57.2
Fair Value, Recurring [Member]
Assets [Abstract]
Contingent consideration asset	6.9	9.8
Total Assets Measured at Fair Value	976.5	623.3
Liability [Abstract]
Contingent consideration liabilities	53.8	31.6
Fair Value, Recurring [Member] | Level 1 [Member]
Assets [Abstract]
Contingent consideration asset	0	0
Total Assets Measured at Fair Value	562	435.9
Liability [Abstract]
Contingent consideration liabilities	0	0
Fair Value, Recurring [Member] | Level 2 [Member]
Assets [Abstract]
Contingent consideration asset	0	0
Total Assets Measured at Fair Value	287	74.8
Liability [Abstract]
Contingent consideration liabilities	0	0
Fair Value, Recurring [Member] | Level 3 [Member]
Assets [Abstract]
Contingent consideration asset	6.9	9.8
Total Assets Measured at Fair Value	25.6	26.6
Liability [Abstract]
Contingent consideration liabilities	53.8	31.6
Fair Value, Recurring [Member] | NAV as a Practical Expedient [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	101.9	86
Fair Value, Recurring [Member] | Sponsored funds and separate accounts [Member]
Assets [Abstract]
Investments, at fair value	708.9	413
Fair Value, Recurring [Member] | Sponsored funds and separate accounts [Member] | Level 1 [Member]
Assets [Abstract]
Investments, at fair value	366.8	289.5
Fair Value, Recurring [Member] | Sponsored funds and separate accounts [Member] | Level 2 [Member]
Assets [Abstract]
Investments, at fair value	275.7	55.4
Fair Value, Recurring [Member] | Sponsored funds and separate accounts [Member] | Level 3 [Member]
Assets [Abstract]
Investments, at fair value	18.7	14.1
Fair Value, Recurring [Member] | Sponsored funds and separate accounts [Member] | NAV as a Practical Expedient [Member]
Assets [Abstract]
Investments, at fair value	47.7	54
Fair Value, Recurring [Member] | Investments related to long-term incentive plans [Member]
Assets [Abstract]
Investments, at fair value	213.9	143.3
Fair Value, Recurring [Member] | Investments related to long-term incentive plans [Member] | Level 1 [Member]
Assets [Abstract]
Investments, at fair value	192.2	143.3
Fair Value, Recurring [Member] | Investments related to long-term incentive plans [Member] | Level 2 [Member]
Assets [Abstract]
Investments, at fair value	0	0
Fair Value, Recurring [Member] | Investments related to long-term incentive plans [Member] | Level 3 [Member]
Assets [Abstract]
Investments, at fair value	0	0
Fair Value, Recurring [Member] | Investments related to long-term incentive plans [Member] | NAV as a Practical Expedient [Member]
Assets [Abstract]
Investments, at fair value	21.7	0
Fair Value, Recurring [Member] | Other equity and debt investments [Member]
Assets [Abstract]
Investments, at fair value	46.8	57.2
Fair Value, Recurring [Member] | Other equity and debt investments [Member] | Level 1 [Member]
Assets [Abstract]
Investments, at fair value	3	3.1
Fair Value, Recurring [Member] | Other equity and debt investments [Member] | Level 2 [Member]
Assets [Abstract]
Investments, at fair value	11.3	19.4
Fair Value, Recurring [Member] | Other equity and debt investments [Member] | Level 3 [Member]
Assets [Abstract]
Investments, at fair value	0	2.7
Fair Value, Recurring [Member] | Other equity and debt investments [Member] | NAV as a Practical Expedient [Member]
Assets [Abstract]
Investments, at fair value	$ 32.5	$ 32

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of investments measured at NAV (Details) - USD ($) $ in Millions		3 Months Ended	12 Months Ended
		Dec. 31, 2022	Sep. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unfunded commitments		$ 51.4	$ 51.4
Nonredeemable investments with unknown liquidation periods
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Alternative Investment	[1]	21.9	29.4
Nonredeemable investments with known liquidation periods
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Alternative Investment	[1]	$ 31.7	$ 32.8
Liquidation weighted-average period		3 years 6 months	3 years 4 months 24 days
Redeemable Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Alternative Investment	[2]	$ 48.3	$ 23.8
[1]The investments are expected to be returned through distributions over the life of the funds as a result of liquidations of the funds’ underlying assets. Investments with known liquidation periods have an expected weighted-average life of 3.5 years and 3.4 years at December 31, 2022 and September 30, 2022.[2]Investments are redeemable on a semi-monthly, monthly and quarterly basis.

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Financial Instruments not Measured at Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022
Financial Assets [Abstract]
Other investments	$ 245.5	$ 266.3
Financial Liability [Abstract]
Debt	3,370.5	3,376.4
Carrying Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	3,547.8	4,134.9
Time deposits	10.7	9.4
Financial Liability [Abstract]
Debt	3,370.5	3,376.4
Estimated Fair Value [Member] | Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	3,547.8	4,134.9
Estimated Fair Value [Member] | Level 2 [Member]
Financial Assets [Abstract]
Time deposits	10.7	9.4
Financial Liability [Abstract]
Debt	2,792.4	2,750.1
Equity securities [Member] | Carrying Value [Member]
Financial Assets [Abstract]
Other investments	234.8	256.9
Equity securities [Member] | Estimated Fair Value [Member] | Level 3 [Member]
Financial Assets [Abstract]
Other investments	$ 234.8	$ 256.9

Consolidated Investment Produ_3

Consolidated Investment Products - Narrative (Details) $ in Millions	3 Months Ended
	Dec. 31, 2022 USD ($) CIPs	Dec. 31, 2021 USD ($)	Sep. 30, 2022 USD ($) CIPs
Consolidated Investment Products [Abstract]
Number of consolidated investment products | CIPs	62		59
Number of CLOs | CIPs	16		15
Collateralized loan obligations [Member]
Schedule Of Consolidated Investment Products [Line Items]
Net losses/gains related to its own economic interests. | $	$ 2.3	$ 5.3
Debt, unpaid principal balance | $	$ 6,466.2		$ 5,781.3
Collateralized loan obligations [Member] | CIPs [Member] | Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Stated interest rate	2.17%		1.42%
Collateralized loan obligations [Member] | CIPs [Member] | Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Stated interest rate	13.73%		8.51%

Consolidated Investment Produ_4

Consolidated Investment Products - Schedule of Balances of CIPs (Details) - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Assets [Abstract]
Receivables	$ 1,291.8	$ 1,264.8
Investments, at fair value	969.6	613.5
Total Assets	29,335.1	28,060.6
Liabilities [Abstract]
Accounts payable and accrued expenses	604.9	466.2
Debt	3,370.5	3,376.4
Other liabilities	1,545.7	1,425
Total liabilities	14,800.4	14,235.9
Redeemable Noncontrolling Interests	1,979.2	1,525.8
Stockholders' Equity [Abstract]
Franklin Resources, Inc.’s interests	11,666.3	11,474.6
Nonredeemable noncontrolling interests	889.2	824.3
Total stockholders’ equity	12,555.5	12,298.9	$ 12,196.4	$ 11,810.6
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	29,335.1	28,060.6
CIPs [Member]
Assets [Abstract]
Cash and cash equivalents	954.4	647.6
Receivables	91.6	134
Investments, at fair value	8,735.6	7,898.1
Total Assets	9,781.6	8,679.7
Liabilities [Abstract]
Accounts payable and accrued expenses	594.3	646.9
Debt	6,164.5	5,457.7
Other liabilities	21.1	175
Total liabilities	6,779.9	6,279.6
Redeemable Noncontrolling Interests	1,379.7	942.2	$ 662.5	$ 622.5
Stockholders' Equity [Abstract]
Franklin Resources, Inc.’s interests	1,052.5	960.8
Nonredeemable noncontrolling interests	569.5	497.1
Total stockholders’ equity	1,622	1,457.9
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	$ 9,781.6	$ 8,679.7

Consolidated Investment Produ_5

Consolidated Investment Products - Schedule of Balances of Assets and Liabilities of CIPs Measured at Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022
Assets [Abstract]
Investments, at fair value	$ 969.6	$ 613.5
CIPs [Member]
Assets [Abstract]
Investments, at fair value	8,735.6	7,898.1
Fair Value, Recurring [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	976.5	623.3
Fair Value, Recurring [Member] | Level 1 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	562	435.9
Fair Value, Recurring [Member] | Level 2 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	287	74.8
Fair Value, Recurring [Member] | Level 3 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	25.6	26.6
Fair Value, Recurring [Member] | NAV as a Practical Expedient [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	101.9	86
Fair Value, Recurring [Member] | CIPs [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	9,248.7	8,234.6
Fair Value, Recurring [Member] | CIPs [Member] | Level 1 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	855	344.5
Fair Value, Recurring [Member] | CIPs [Member] | Level 2 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	7,267.6	6,652.8
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	978.5	1,063.8
Fair Value, Recurring [Member] | CIPs [Member] | NAV as a Practical Expedient [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	147.6	173.5
Equity and debt securities [Member] | Fair Value, Recurring [Member] | CIPs [Member]
Assets [Abstract]
Investments, at fair value	2,132.4	1,685.7
Equity and debt securities [Member] | Fair Value, Recurring [Member] | CIPs [Member] | Level 1 [Member]
Assets [Abstract]
Investments, at fair value	360.7	75.4
Equity and debt securities [Member] | Fair Value, Recurring [Member] | CIPs [Member] | Level 2 [Member]
Assets [Abstract]
Investments, at fair value	1,068.3	881
Equity and debt securities [Member] | Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member]
Assets [Abstract]
Investments, at fair value	555.8	555.8
Equity and debt securities [Member] | Fair Value, Recurring [Member] | CIPs [Member] | NAV as a Practical Expedient [Member]
Assets [Abstract]
Investments, at fair value	147.6	173.5
Loans [Member] | Fair Value, Recurring [Member] | CIPs [Member]
Assets [Abstract]
Investments, at fair value	6,245.2	5,943.8
Loans [Member] | Fair Value, Recurring [Member] | CIPs [Member] | Level 1 [Member]
Assets [Abstract]
Investments, at fair value	0	0
Loans [Member] | Fair Value, Recurring [Member] | CIPs [Member] | Level 2 [Member]
Assets [Abstract]
Investments, at fair value	6,180.5	5,704.4
Loans [Member] | Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member]
Assets [Abstract]
Investments, at fair value	64.7	239.4
Real Estate [Member] | Fair Value, Recurring [Member] | CIPs [Member]
Assets [Abstract]
Investments, at fair value	358	268.6
Real Estate [Member] | Fair Value, Recurring [Member] | CIPs [Member] | Level 1 [Member]
Assets [Abstract]
Investments, at fair value	0	0
Real Estate [Member] | Fair Value, Recurring [Member] | CIPs [Member] | Level 2 [Member]
Assets [Abstract]
Investments, at fair value	0	0
Real Estate [Member] | Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member]
Assets [Abstract]
Investments, at fair value	358	268.6
Collateralized loan obligations [Member]
Assets [Abstract]
Investments, at fair value	6,259.3	5,762.3
Collateralized loan obligations [Member] | Fair Value, Recurring [Member]
Assets [Abstract]
Cash and cash equivalents of CLOs	494.3	269.1
Receivables of CLOs	18.8	67.4
Collateralized loan obligations [Member] | Fair Value, Recurring [Member] | Level 1 [Member]
Assets [Abstract]
Cash and cash equivalents of CLOs	494.3	269.1
Receivables of CLOs	0	0
Collateralized loan obligations [Member] | Fair Value, Recurring [Member] | Level 2 [Member]
Assets [Abstract]
Cash and cash equivalents of CLOs	0	0
Receivables of CLOs	18.8	67.4
Collateralized loan obligations [Member] | Fair Value, Recurring [Member] | Level 3 [Member]
Assets [Abstract]
Cash and cash equivalents of CLOs	0	0
Receivables of CLOs	$ 0	$ 0

Consolidated Investment Produ_6

Consolidated Investment Products - Schedule of Investments measured at NAV (Details) - USD ($) $ in Millions		3 Months Ended	12 Months Ended
		Dec. 31, 2022	Sep. 30, 2022
Schedule Of Consolidated Investment Products [Line Items]
Unfunded commitments		$ 51.4	$ 51.4
Nonredeemable investments with known liquidation periods
Schedule Of Consolidated Investment Products [Line Items]
Alternative Investment	[1]	$ 31.7	$ 32.8
Liquidation weighted-average period		3 years 6 months	3 years 4 months 24 days
Nonredeemable investments with unknown liquidation periods
Schedule Of Consolidated Investment Products [Line Items]
Alternative Investment	[1]	$ 21.9	$ 29.4
Redeemable Funds
Schedule Of Consolidated Investment Products [Line Items]
Alternative Investment	[2]	48.3	23.8
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Unfunded commitments	[3]	0.2	0.2
Unfunded commitments Company contractually obligated to fund		0.1
CIPs [Member] | Nonredeemable investments with known liquidation periods
Schedule Of Consolidated Investment Products [Line Items]
Alternative Investment	[4]	3.1	19.5
CIPs [Member] | Nonredeemable investments with unknown liquidation periods
Schedule Of Consolidated Investment Products [Line Items]
Alternative Investment	[4]	20	12
CIPs [Member] | Redeemable Funds
Schedule Of Consolidated Investment Products [Line Items]
Alternative Investment	[5]	$ 124.5	$ 142
CIPs [Member] | Nonredeemable Private Debt, Equity and Infrastructure Funds [Member]
Schedule Of Consolidated Investment Products [Line Items]
Liquidation weighted-average period		3 months 18 days
[1]The investments are expected to be returned through distributions over the life of the funds as a result of liquidations of the funds’ underlying assets. Investments with known liquidation periods have an expected weighted-average life of 3.5 years and 3.4 years at December 31, 2022 and September 30, 2022.[2]Investments are redeemable on a semi-monthly, monthly and quarterly basis.[3]Of the total unfunded commitments, the Company was contractually obligated to fund $0.1 million based on its ownership percentage in the CIPs, at December 31, 2022 and September 30, 2022.[4]The investments are expected to be returned through distributions over the life of the funds as a result of liquidations of the funds’ underlying assets. Investments with known liquidation periods have an expected weighted-average life of 0.3 years at December 31, 2022 and September 30, 2022.[5]Investments are redeemable on a monthly basis and liquidation periods are unknown.

Consolidated Investment Produ_7

Consolidated Investment Products - Schedule of Changes in Level 3 Assets of CIPs (Details) - CIPs [Member] - Level 3 [Member] - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of period - assets	$ 1,063.8	$ 563.2
Realized and unrealized gains (losses) included in investment and other income (losses) of consolidated investment products, net	(2.5)	101.2
Purchases	122.2	33.1
Sales and settlements	(5.8)	(24.5)
Deconsolidations	(199.2)
Transfers Into Level 3		0.1
Transfers out of Level 3 - assets		(1)
Balance at End of Period - assets	978.5	672.1
Change in unrealized gains included in net income relating to assets held at December 31, 2022	5.8	101.4
Equity and debt securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of period - assets	555.8	453.3
Realized and unrealized gains (losses) included in investment and other income (losses) of consolidated investment products, net	(6.3)	92.3
Purchases	9	18.2
Sales and settlements	(5.6)	(23.9)
Deconsolidations	2.9
Transfers Into Level 3		0.1
Transfers out of Level 3 - assets		(1)
Balance at End of Period - assets	555.8	539
Change in unrealized gains included in net income relating to assets held at December 31, 2022	2	92.5
Real Estate [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of period - assets	268.6	89.4
Realized and unrealized gains (losses) included in investment and other income (losses) of consolidated investment products, net	3.7	8.6
Purchases	85.7	0.9
Sales and settlements	0	0
Deconsolidations	0
Transfers Into Level 3		0
Transfers out of Level 3 - assets		0
Balance at End of Period - assets	358	98.9
Change in unrealized gains included in net income relating to assets held at December 31, 2022	3.7	8.6
Loans [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of period - assets	239.4	20.5
Realized and unrealized gains (losses) included in investment and other income (losses) of consolidated investment products, net	0.1	0.3
Purchases	27.5	14
Sales and settlements	(0.2)	(0.6)
Deconsolidations	(202.1)
Transfers Into Level 3		0
Transfers out of Level 3 - assets		0
Balance at End of Period - assets	64.7	34.2
Change in unrealized gains included in net income relating to assets held at December 31, 2022	$ 0.1	$ 0.3

Consolidated Investment Produ_8

Consolidated Investment Products - Schedule of Valuation Techniques and Significant Unobservable Inputs used in Level 3 Fair Value Measurements (Details) $ in Millions		Dec. 31, 2022 USD ($) $ / shares	Sep. 30, 2022 USD ($) $ / shares
Schedule Of Consolidated Investment Products [Line Items]
Total investments, at fair value		$ 969.6	$ 613.5
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Total investments, at fair value		8,735.6	7,898.1
Fair Value, Recurring [Member] | CIPs [Member] | Equity and debt securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Total investments, at fair value		2,132.4	1,685.7
Fair Value, Recurring [Member] | CIPs [Member] | Real Estate [Member]
Schedule Of Consolidated Investment Products [Line Items]
Total investments, at fair value		358	268.6
Fair Value, Recurring [Member] | CIPs [Member] | Loans [Member]
Schedule Of Consolidated Investment Products [Line Items]
Total investments, at fair value		6,245.2	5,943.8
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity and debt securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Total investments, at fair value		555.8	555.8
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity and debt securities [Member] | Market pricing [Member]
Schedule Of Consolidated Investment Products [Line Items]
Total investments, at fair value		$ 555.8	$ 555.8
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity and debt securities [Member] | Market pricing [Member] | Private sale pricing [Member] | Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input | $ / shares		0.01	0.01
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity and debt securities [Member] | Market pricing [Member] | Private sale pricing [Member] | Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input | $ / shares		1,000	558.45
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity and debt securities [Member] | Market pricing [Member] | Private sale pricing [Member] | Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input | $ / shares	[1]	39.93	33.31
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity and debt securities [Member] | Market comparable companies [Member] | Measurement Input, Discount for lack of liquidity | Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.235	0.235
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity and debt securities [Member] | Market comparable companies [Member] | Measurement Input, Discount for lack of liquidity | Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.251	0.251
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Equity and debt securities [Member] | Market comparable companies [Member] | Measurement Input, Discount for lack of liquidity | Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.249	0.249
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Real Estate [Member]
Schedule Of Consolidated Investment Products [Line Items]
Total investments, at fair value		$ 358	$ 268.6
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Real Estate [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Total investments, at fair value		$ 358	$ 268.6
Fair Value, 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		0.055	0.045
Fair Value, 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		0.068	0.063
Fair Value, 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]	0.062	0.051
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Real Estate [Member] | Discounted cash flow [Member] | Exit Capitalization Rate [Member] | Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.045	0.055
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Real Estate [Member] | Discounted cash flow [Member] | Exit Capitalization Rate [Member] | Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.063	0.068
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Real Estate [Member] | Discounted cash flow [Member] | Exit Capitalization Rate [Member] | Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	0.052	0.060
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Loans [Member]
Schedule Of Consolidated Investment Products [Line Items]
Total investments, at fair value		$ 64.7	$ 239.4
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Loans [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Total investments, at fair value			$ 60.4
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Loans [Member] | Discounted cash flow [Member] | Discount rate [Member] | Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input			9.9
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Loans [Member] | Market pricing [Member]
Schedule Of Consolidated Investment Products [Line Items]
Total investments, at fair value			$ 147.2
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Loans [Member] | Market pricing [Member] | Private sale pricing [Member] | Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input | $ / shares			0.97
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Loans [Member] | Market pricing [Member] | Private sale pricing [Member] | Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input | $ / shares			0.98
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Loans [Member] | Market pricing [Member] | Private sale pricing [Member] | Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input | $ / shares			0.98
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Loans [Member] | Yield capitalization [Member]
Schedule Of Consolidated Investment Products [Line Items]
Total investments, at fair value			$ 31.9
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Loans [Member] | Yield capitalization [Member] | Measurement Input, Credit Spread | Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.060
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Loans [Member] | Yield capitalization [Member] | Measurement Input, Credit Spread | Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.073
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Loans [Member] | Yield capitalization [Member] | Measurement Input, Credit Spread | Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.065	6.3
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Loans [Member] | Yield capitalization [Member] | Measurement Input, Loan-to-value ratio | Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.646	0.791
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Loans [Member] | Yield capitalization [Member] | Measurement Input, Loan-to-value ratio | Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.772	0.881
Fair Value, Recurring [Member] | CIPs [Member] | Level 3 [Member] | Loans [Member] | Yield capitalization [Member] | Measurement Input, Loan-to-value ratio | Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.702	0.831
[1]Based on the relative fair value of the instruments.

Consolidated Investment Produ_9

Consolidated Investment Products - Schedule of Financial Instruments of CIPs not Measured at Fair Value (Details) - USD ($) $ in Millions		Dec. 31, 2022	Sep. 30, 2022
Carrying Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents		$ 3,547.8	$ 4,134.9
Financial Liability [Abstract]
Debt of CLOs1		3,370.5	3,376.4
Carrying Value [Member] | CIPs [Member]
Financial Assets [Abstract]
Cash and cash equivalents		460.1	378.5
Financial Liability [Abstract]
Other debt		62.2	49.7
Estimated Fair Value [Member] | Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents		3,547.8	4,134.9
Estimated Fair Value [Member] | Level 2 [Member]
Financial Liability [Abstract]
Debt of CLOs1		2,792.4	2,750.1
Estimated Fair Value [Member] | CIPs [Member] | Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents		460.1	378.5
Estimated Fair Value [Member] | CIPs [Member] | Level 3 [Member]
Financial Liability [Abstract]
Other debt		52.3	42.4
Receivables		1,291.8	1,264.8
Debt of CLOs1		3,370.5	3,376.4
CIPs [Member]
Financial Assets [Abstract]
Cash and cash equivalents		954.4	647.6
Receivables		91.6	134
Financial Liability [Abstract]
Debt of CLOs1		6,164.5	5,457.7
Other debt		62.2	49.7
Collateralized loan obligations [Member] | Carrying Value [Member] | CIPs [Member]
Financial Liability [Abstract]
Debt of CLOs1	[1]	6,102.3	5,408
Collateralized loan obligations [Member] | Estimated Fair Value [Member] | CIPs [Member] | Level 2 [Member]
Financial Liability [Abstract]
Debt of CLOs1	[1]	6,208.1	5,548.8
Collateralized loan obligations [Member] | CIPs [Member]
Financial Liability [Abstract]
Debt of CLOs1		$ 6,102.3	$ 5,408
[1]Substantially all was Level 2.

Consolidated Investment Prod_10

Consolidated Investment Products - Schedule of Debt of CIPs (Details) - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022
Schedule Of Consolidated Investment Products [Line Items]
Debt	$ 3,370.5	$ 3,376.4
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Debt	6,164.5	5,457.7
Other debt	$ 62.2	$ 49.7
Effective interest rate	5.18%	5.19%
Collateralized loan obligations [Member] | CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Debt	$ 6,102.3	$ 5,408
Effective interest rate	4.42%	2.78%
Collateralized loan obligations [Member] | CIPs [Member] | Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Stated interest rate	2.17%	1.42%
Collateralized loan obligations [Member] | CIPs [Member] | Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Stated interest rate	13.73%	8.51%

Consolidated Investment Prod_11

Consolidated Investment Products - Schedule of Contractual Maturities for Debt of CIPs (Details) - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022
Schedule Of Consolidated Investment Products [Line Items]
Total	$ 3,370.5	$ 3,376.4
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
2023 (remainder of year)	7.2
2023	42
2024	0
2025	0
2026	0
Thereafter	6,115.3
Total	$ 6,164.5

Consolidated Investment Prod_12

Consolidated Investment Products - Schedule of Unpaid Principal Balance and Fair Value of Investments (Details) - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022
Schedule Of Consolidated Investment Products [Line Items]
Unpaid principal balance	$ 2,045.8	$ 1,651.3
Total investments, at fair value	969.6	613.5
Collateralized loan obligations [Member]
Schedule Of Consolidated Investment Products [Line Items]
Unpaid principal balance	6,613.4	6,118.4
Difference between unpaid principal balance and fair value	(354.1)	(356.1)
Total investments, at fair value	$ 6,259.3	$ 5,762.3

Redeemable Noncontrolling Int_3

Redeemable Noncontrolling Interests (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Noncontrolling Interest [Line Items]
Balance at beginning of period	$ 1,525.8
Net income (loss)	(1.5)	$ 7.5
Net subscriptions (distributions) and other	95.9	(27.8)
Net consolidations (deconsolidations)	(35.7)
Balance at End of Period	1,979.2
Minority Interests [Member]
Noncontrolling Interest [Line Items]
Balance at beginning of period	583.6	310.5
Net income (loss)	10.7	12.3
Net subscriptions (distributions) and other	5.2	(1.9)
Net consolidations (deconsolidations)	0	0
Balance at End of Period	599.5	320.9
Redeemable Noncontrolling Interests [Member]
Noncontrolling Interest [Line Items]
Balance at beginning of period	1,525.8	933
Net income (loss)	(1.5)	7.5
Net subscriptions (distributions) and other	183.6	164.4
Net consolidations (deconsolidations)	271.3	(121.5)
Balance at End of Period	1,979.2	983.4
CIPs [Member]
Noncontrolling Interest [Line Items]
Balance at beginning of period	942.2	622.5
Net income (loss)	(12.2)	(4.8)
Net subscriptions (distributions) and other	178.4	166.3
Net consolidations (deconsolidations)	271.3	(121.5)
Balance at End of Period	$ 1,379.7	$ 662.5

Nonconsolidated Variable Inte_3

Nonconsolidated Variable Interest Entities - Schedule of Maximum Exposure to Loss (Details) - Variable Interest Entity, Not Primary Beneficiary - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022
Variable Interest Entity [Line Items]
Maximum exposure to loss	$ 1,222.5	$ 883.4
Investments [Member]
Variable Interest Entity [Line Items]
Maximum exposure to loss	1,029.5	718
Receivables [Member]
Variable Interest Entity [Line Items]
Maximum exposure to loss	$ 193	$ 165.4

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	Dec. 31, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Distribution to Unitholders of India Fixed Income Mutual Funds	$ 3,200

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ in Millions	3 Months Ended
	Dec. 31, 2022 USD ($)
Share-based Payment Arrangement, Noncash Expense [Abstract]
Unrecognized compensation expense related to nonvested stock and stock unit awards	$ 330.8
Remaining weighted-average vesting period	2 years

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock and Stock Unit Award Activity (Details) shares in Thousands	3 Months Ended
	Dec. 31, 2022 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested balance at October 1, 2022	16,893
Granted	7,039
Vested	(1,415)
Forfeited/canceled	(249)
Nonvested Balance at December 31, 2022	22,268
Nonvested beginning balance, Weighted Average Grant Date Fair Value | $ / shares	$ 24.04
Weighted Average Grant Date Fair Value of shares granted | $ / shares	22.51
Weighted Average Grant Date Fair Value of shares vested | $ / shares	23.85
Weighted Average Grant Date Fair Value of shares forfeited/canceled | $ / shares	26.79
Nonvested ending balance, Weighted Average Grant Date Fair Value | $ / shares	$ 23.54
Time-Based Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested balance at October 1, 2022	13,492
Granted	6,848
Vested	(1,277)
Forfeited/canceled	(219)
Nonvested Balance at December 31, 2022	18,844
Performance-Based Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested balance at October 1, 2022	3,401
Granted	191
Vested	(138)
Forfeited/canceled	(30)
Nonvested Balance at December 31, 2022	3,424

Investment and Other Income, _3

Investment and Other Income, net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Other Income and Expenses [Abstract]
Net gains (losses) recognized on equity securities measured at fair value and trading debt securities	$ (68.3)	$ (4.4)

Investment and Other Income , N

Investment and Other Income , Net - Schedule of Investment and Other Income, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Other Income and Expenses [Abstract]
Dividend and interest income	$ 36.5	$ 6.1
Gains on investments, net	45.5	25.8
Income from investments in equity method investees	33.2	24.7
Rental income	10.6	9.7
Foreign currency exchange (losses) gains, net	(27.1)	3.9
Other, net	(7.6)	(13.2)
Investment and other income, net	$ 91.1	$ 57