Invesco (IVZ) 10-Q 1 May 24 2024 Q1 Quarterly report Financial data

Cover Page

Cover Page	3 Months Ended
	Mar. 31, 2024 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-13908
Entity Registrant Name	Invesco Ltd.
Entity Incorporation, State or Country Code	D0
Entity Tax Identification Number	98-0557567
Entity Address, Address Line One	1331 Spring Street,
Entity Address, Address Line Two	Suite 2500,
Entity Address, City or Town	Atlanta,
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30309
City Area Code	404
Local Phone Number	892-0896
Title of 12(b) Security	Common stock, $0.20 par value
Trading Symbol	IVZ
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	449,831,075
Entity Central Index Key	0000914208
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 895.7	$ 1,469.2
Accounts receivable	708.3	701.5
Investments	963.5	919.1
Assets of consolidated investment products (CIP):
Cash and cash equivalents of CIP	529.8	462.4
Accounts receivable and other assets of CIP	217.3	250.1
Investments of CIP	8,902.2	8,765.9
Assets held for policyholders	0	393.9
Other assets	823.4	832.6
Property, equipment and software, net	583.6	599.5
Intangible assets, net	5,832.4	5,848.1
Goodwill	8,621	8,691.5
Total assets	28,077.2	28,933.8
LIABILITIES
Accrued compensation and benefits	452.5	900.4
Accounts payable and accrued expenses	1,321.2	1,294.4
Debt of CIP	7,370.4	7,121.8
Other liabilities of CIP	459.1	492.1
Policyholder payables	0	393.9
Debt	1,257.5	1,489.5
Deferred tax liabilities, net	1,363.7	1,325.7
Total liabilities	12,224.4	13,017.8
Commitments and contingencies (See Note 10)
TEMPORARY EQUITY
Redeemable noncontrolling interests in consolidated entities	667.8	745.7
Equity attributable to Invesco Ltd.:
Preferred shares ($0.20 par value; $1,000 liquidation preference; 4.0 million authorized, issued and outstanding as of March 31, 2024 and December 31, 2023)	4,010.5	4,010.5
Common shares ($0.20 par value; 1,050.0 million authorized; 566.1 million shares issued as of March 31, 2024 and December 31, 2023)	113.2	113.2
Additional paid-in-capital	7,314.6	7,451.6
Treasury shares	(2,864.4)	(3,002.6)
Retained earnings	6,878	6,826.7
Accumulated other comprehensive income/(loss), net of tax	(897.1)	(801.8)
Total equity attributable to Invesco Ltd.	14,554.8	14,597.6
Equity attributable to nonredeemable noncontrolling interests in consolidated entities	630.2	572.7
Total permanent equity	15,185	15,170.3
Total liabilities, temporary and permanent equity	$ 28,077.2	$ 28,933.8

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares shares in Millions	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock par value (in USD per share)	$ 0.20	$ 0.20
Liquidation preference per share (in USD per share)	$ 1,000	$ 1,000
Preferred stock authorized (in shares)	4	4
Preferred shares issued (in shares)	4	4
Preferred shares outstanding (in shares)	4	4
Common stock par value (in USD per share)	$ 0.20	$ 0.20
Common stock authorized (in shares)	1,050	1,050
Common stock issued (in shares)	566.1	566.1

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating revenues:
Total operating revenues	$ 1,475.3	$ 1,418.2
Operating expenses:
Third-party distribution, service and advisory	504	455.1
Employee compensation	472.7	462.8
Marketing	18.1	19.6
Property, office and technology	117.6	110.5
General and administrative	138.5	105
Transaction, integration and restructuring	0	41.6
Amortization of intangible assets	11.3	14.1
Total operating expenses	1,262.2	1,208.7
Operating income	213.1	209.5
Other income/(expense):
Equity in earnings of unconsolidated affiliates	6.9	26.1
Interest and dividend income	12.4	8.6
Interest expense	(15.9)	(18)
Other gains/(losses), net	35.9	27.4
Other income/(expense) of CIP, net	30.5	(17.9)
Income before income taxes	282.9	235.7
Income tax provision	(68.7)	(69.9)
Net income	214.2	165.8
Net (income)/loss attributable to noncontrolling interests in consolidated entities	(13.5)	38.4
Dividends declared on preferred shares	(59.2)	(59.2)
Net income attributable to Invesco Ltd.	$ 141.5	$ 145
Earnings per common share:
Basic (in USD per share)	$ 0.31	$ 0.32
Diluted (in USD per share)	$ 0.31	$ 0.32
Investment management fees
Operating revenues:
Total operating revenues	$ 1,048.7	$ 1,027.9
Service and distribution fees
Operating revenues:
Total operating revenues	377	334.2
Performance fees
Operating revenues:
Total operating revenues	0.8	5.6
Other
Operating revenues:
Total operating revenues	$ 48.8	$ 50.5

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 214.2	$ 165.8
Other comprehensive income/(loss), net of tax:
Currency translation differences on investments in foreign subsidiaries	(96.3)	55.1
Other comprehensive income/(loss), net of tax	1	4.4
Other comprehensive income/(loss)	(95.3)	59.5
Total comprehensive income/(loss)	118.9	225.3
Comprehensive loss/(income) attributable to noncontrolling interests in consolidated entities	(13.5)	38.4
Dividends declared on preferred shares	(59.2)	(59.2)
Comprehensive income/(loss) attributable to Invesco Ltd.	$ 46.2	$ 204.5

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating activities:
Net income	$ 214.2	$ 165.8
Adjustments to reconcile net income to net cash provided by/(used in) operating activities:
Amortization and depreciation	45.1	46.8
Common share-based compensation expense	21.1	37.8
Other (gains)/losses, net	(35.3)	(27.4)
Other (gains)/losses of CIP, net	2.4	63.2
Equity in earnings of unconsolidated affiliates	(6.9)	(26.1)
Distributions from equity method investees	15.9	2.7
Changes in operating assets and liabilities:
(Purchase)/sale of investments by CIP, net	(3.4)	32.7
(Purchase)/sale of investments, net	16.8	2.9
(Increase)/decrease in receivables	365.1	(70.7)
Increase/(decrease) in payables	(689.4)	(326.6)
Net cash provided by/(used in) operating activities	(54.4)	(98.9)
Investing activities:
Purchase of property, equipment and software	(21)	(38.1)
Purchase of investments by CIP	(472.8)	(562.6)
Sale of investments by CIP	237.7	669.5
Purchase of investments	(36.5)	(40.7)
Sale of investments	0.1	21
Capital distribution from equity method investees	6.9	7
Net cash inflows/(outflows) upon consolidation/deconsolidation of CIP	(1.7)	(10.6)
Net cash provided by/(used in) investing activities	(287.3)	45.5
Financing activities:
Purchases of treasury shares	(20.4)	(27.7)
Dividends paid - preferred	(59.2)	(59.2)
Dividends paid - common	(90.2)	(85.7)
Third-party capital invested into CIP	98.3	27.5
Third-party capital distributed by CIP	(42.6)	(67.9)
Borrowings of debt of CIP	274.3	39.7
Repayments of debt of CIP	(76.1)	(5.2)
Borrowings of credit agreement	1,030.4	0
Repayments of credit agreement	(662.8)	0
Repayment of senior notes	(600)	0
Net cash provided by/(used in) financing activities	(148.3)	(178.5)
Increase/(decrease) in cash and cash equivalents	(490)	(231.9)
Supplemental Cash Flow Information [Abstract]
Foreign exchange movement on cash and cash equivalents	(14.1)	11.7
Foreign exchange movement on cash and cash equivalents of CIP	(2)	1
Cash and cash equivalents, beginning of period	1,931.6	1,434.1
Cash and cash equivalents, end of period	1,425.5	1,214.9
Cash and cash equivalents	895.7	889
Cash and cash equivalents of CIP	529.8	325.9
Total cash and cash equivalents per condensed consolidated statement of cash flows	$ 1,425.5	$ 1,214.9

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Millions	Total	Total Equity Attributable to Invesco Ltd.	Preferred Shares	Common Shares	Additional Paid-in-Capital	Treasury Shares	Retained Earnings	Accumulated Other Comprehensive Income/(Loss)	Nonredeemable Noncontrolling Interests in Consolidated Entities
Beginning balance at Dec. 31, 2022	$ 15,843.5	$ 15,213.6	$ 4,010.5	$ 113.2	$ 7,554.9	$ (3,040.9)	$ 7,518.3	$ (942.4)	$ 629.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	179.4	204.2					204.2		(24.8)
Other comprehensive income/(loss)	59.5	59.5						59.5
Change in noncontrolling interests in consolidated entities, net	(17.9)								(17.9)
Dividends declared - preferred	(59.2)	(59.2)					(59.2)
Dividends declared - common	(85.7)	(85.7)					(85.7)
Common share-based compensation	37.8	37.8			37.8
Vested common shares	0	0			(180.6)	180.6
Other common share awards	0.5	0.5			0.5	0
Purchase of common shares	(27.7)	(27.7)				(27.7)
Ending balance at Mar. 31, 2023	15,930.2	15,343	4,010.5	113.2	7,412.6	(2,888)	7,577.6	(882.9)	587.2
Beginning balance at Dec. 31, 2022	998.7
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income	(13.6)
Change in noncontrolling interests in consolidated entities, net	(105.5)
Ending balance at Mar. 31, 2023	879.6
Beginning balance at Dec. 31, 2023	15,170.3	14,597.6	4,010.5	113.2	7,451.6	(3,002.6)	6,826.7	(801.8)	572.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	238.6	200.7					200.7		37.9
Other comprehensive income/(loss)	(95.3)	(95.3)						(95.3)
Change in noncontrolling interests in consolidated entities, net	19.6								19.6
Dividends declared - preferred	(59.2)	(59.2)					(59.2)
Dividends declared - common	(90.2)	(90.2)					(90.2)
Common share-based compensation	21.1	21.1			21.1
Vested common shares	0	0			(158.4)	158.4
Other common share awards	0.5	0.5			0.3	0.2
Purchase of common shares	(20.4)	(20.4)				(20.4)
Ending balance at Mar. 31, 2024	15,185	$ 14,554.8	$ 4,010.5	$ 113.2	$ 7,314.6	$ (2,864.4)	$ 6,878	$ (897.1)	$ 630.2
Beginning balance at Dec. 31, 2023	745.7
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income	(24.4)
Change in noncontrolling interests in consolidated entities, net	(53.5)
Ending balance at Mar. 31, 2024	$ 667.8

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Preferred stock dividend declared (in USD per share)	$ 14.75	$ 14.75
Common stock dividends declared per share (in USD per share)	$ 0.20	$ 0.1875

ACCOUNTING POLICIES

ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
ACCOUNTING POLICIES	ACCOUNTING POLICIES Corporate Information Invesco Ltd. (the Parent) and its consolidated entities (collectively, the company or Invesco) provide retail and institutional clients with an array of investment management capabilities. The company operates globally and its sole business is investment management. Certain disclosures included in the company’s annual report on Form 10-K for the year ended December 31, 2023 (annual report or Form 10-K) are not required to be included on an interim basis in the company’s quarterly reports on Forms 10-Q (Report). The company has condensed or omitted these disclosures. Therefore, this Report should be read in conjunction with the company’s annual report. Basis of Accounting and Consolidation The unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) for interim financial information and with rules and regulations of the U.S. Securities and Exchange Commission (SEC) and consolidate the financial statements of the Parent and all of its controlled subsidiaries. In the opinion of management, the Condensed Consolidated Financial Statements reflect all adjustments, consisting of normal recurring accruals, which are necessary for the fair presentation of the financial condition and results of operations for the periods presented. All significant intercompany transactions, balances, revenues and expenses are eliminated upon consolidation. The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Reclassifications In the quarter ended March 31, 2024, expenses for client-related travel and entertainment and outsourced services were reclassified to General and administrative expenses. The impact of this reclassification on the Consolidated Statements of Income is as follows: • For the three months ended March 31, 2024: decreased Marketing and Property, office and technology expenses by $6.7 million and $23.6 million, respectively, and increased General and administrative by $30.3 million. • For the three months ended March 31, 2023: decreased Marketing and Property, office and technology expenses by $5.4 million and $23.9 million, respectively, and increased General and administrative by $29.3 million. The reclassification had no impact on our reported Operating revenues, Operating income, Net income, or any internal performance measure on which management is compensated. Accounting Pronouncements Recently Adopted None. Pending Accounting Pronouncements Refer to the most recent Form 10-K filed with the SEC.

FAIR VALUE OF ASSETS AND LIABIL

FAIR VALUE OF ASSETS AND LIABILITIES	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE OF ASSETS AND LIABILITIES	FAIR VALUE OF ASSETS AND LIABILITIES The fair value of financial instruments is presented in the below summary table. The fair value of financial instruments held by CIP are presented in Note 11, "Consolidated Investment Products." See the company’s most recently filed Form 10-K for additional disclosures on valuation methodology and fair value. March 31, 2024 December 31, 2023 (in millions) Fair Value Fair Value Cash and cash equivalents $ 895.7 $ 1,469.2 Equity investments 297.2 272.4 Assets held for policyholders — 393.9 Policyholder payables (1) — (393.9) Total return swap related to deferred compensation plans 8.1 4.9 ____________ (1) These financial instruments are not measured at fair value on a recurring basis. Policyholder payables were indexed to the value of the assets held for policyholders and changes in fair value were recorded and offset to zero in other operating r evenues. In January 2024, all funds were distributed to customers. The following table presents, by hierarchy levels, the carrying value of the company’s assets and liabilities, including major security type for equity and debt securities, which are measured at fair value on the company’s Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023, respectively: As of March 31, 2024 (in millions) Fair Value Measurements Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets: Cash equivalents: Money market funds (1) $ 434.7 $ 434.7 $ — $ — Investments: (2) Equity investments: Seed capital 86.0 86.0 — — Investments related to deferred compensation plans 211.2 211.2 — — Total return swap related to deferred compensation plans 8.1 — 8.1 — Total $ 740.0 $ 731.9 $ 8.1 $ — Liabilities: Contingent consideration liability $ (1.3) $ — $ — $ (1.3) Total $ (1.3) $ — $ — $ (1.3) As of December 31, 2023 (in millions) Fair Value Measurements Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets: Cash equivalents: Money market funds (1) $ 927.8 $ 927.8 $ — $ — Investments (2) : Equity investments: Seed capital 75.7 75.7 — — Investments related to deferred compensation plans 196.7 196.7 — — Assets held for policyholders (3) 393.9 393.9 — — Total return swap related to deferred compensation plans 4.9 — 4.9 — Total $ 1,599.0 $ 1,594.1 $ 4.9 $ — Liabilities: Contingent consideration liability $ (1.3) $ — $ — $ (1.3) Total $ (1.3) $ — $ — $ (1.3) ____________ ( 1) The balance primarily represents cash held in affiliated money market funds. (2) Equity method and other investments of $651.4 million and $14.9 million, respectively, are excluded from this table (December 31, 2023: $631.8 million and $14.9 million, respectively). These investments are not measured at fair value, in accordance with applicable accounting standards. (3) The majority of A ssets held for policyholders were held in affiliated funds. Total Return Swap (TRS) In addition to holding equity investments, the company has a TRS to hedge economically certain deferred compensation liabilities. The notional value of the TRS at March 31, 2024 was $424.4 million, and the fair value of the TRS was an asset of $8.1 million (December 31, 2023 notional value was $393.0 million and the fair value was an asset of $4.9 million). During the three months ended March 31, 2024, market valuation gains related to the TRS were $18.0 million (three months ended March 31, 2023: $13.1 million net gain). The fair value of the TRS was determined under the market approach using quoted prices of the underlying investments and, as such, is classified as level 2 of the valuation hierarchy. The TRS is not designated for hedge accounting.

INVESTMENTS

INVESTMENTS	3 Months Ended
	Mar. 31, 2024
Investments [Abstract]
INVESTMENTS	INVESTMENTS The disclosures below include details of the company’s investments. Investments held by CIP are detailed in No te 11, "Consolidated Investment Products." (in millions) March 31, 2024 December 31, 2023 Equity investments: Seed capital $ 86.0 $ 75.7 Investments related to deferred compensation plans 211.2 196.7 Equity method investments 651.4 631.8 Other 14.9 14.9 Total investments (1) $ 963.5 $ 919.1 _________ (1) The majority of the company’s investment balances relate to balances held in affiliated funds and equity method investees. Equity investments The unrealized gains and losses for the three months ended March 31, 2024 that relate to equity investments still held at March 31, 2024 were a $16.2 million net gain (three months ended March 31, 2023: $6.7 million net gain).

DEBT

DEBT	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
DEBT	DEBT The disclosures below include details of the company’s debt. Debt of CIP is detailed in Note 11, "Consolidated Investment Products." March 31, 2024 December 31, 2023 (in millions) Carrying Value (3) Fair Value Carrying Value (3) Fair Value $2.0 billion floating rate credit agreement expiring April 26, 2028 $ 367.6 $ 367.6 $ — $ — Unsecured Senior Notes: (1) $600 million 4.000% - due January 30, 2024 (2) — — 599.9 599.1 $500 million 3.750% - due January 15, 2026 498.7 488.0 498.6 489.1 $400 million 5.375% - due November 30, 2043 391.2 391.7 391.0 409.6 Debt $ 1,257.5 $ 1,247.3 $ 1,489.5 $ 1,497.8 ____________ (1) The company’s senior note indentures contain certain restrictions on mergers or consolidations. Beyond these items, there are no other restrictive covenants in the indentures. (2) On January 30, 2024, the outstanding balance of the $600.0 million senior notes was paid in full. (3) The difference between the principal amounts and the carrying values of the senior notes in the table above reflect the unamortized debt issuance costs and discounts.

SHARE CAPITAL

SHARE CAPITAL	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
SHARE CAPITAL	SHARE CAPITAL The number of preferred shares issued and outstanding is represented in the table below: As of (in millions) March 31, 2024 December 31, 2023 Preferred shares issued (1) 4.0 4.0 Preferred shares outstanding (1) 4.0 4.0 ____________ (1) Substantially all the preferred shares are held by Massachusetts Mutual Life Insurance Company (MassMutual) and are subject to a lock-up period of five years, which prohibits the sale of the preferred shares by MassMutual until May 24, 2024. The number of common shares and common share equivalents issued are represented in the table below: As of (in millions) March 31, 2024 December 31, 2023 Common shares issued 566.1 566.1 Less: Treasury shares for which dividend and voting rights do not apply (116.3) (116.6) Common shares outstanding 449.8 449.5

OTHER COMPREHENSIVE INCOME_(LOS

OTHER COMPREHENSIVE INCOME/(LOSS)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
OTHER COMPREHENSIVE INCOME/(LOSS)	OTHER COMPREHENSIVE INCOME/(LOSS) The components of accumulated other comprehensive income/(loss) were as follows: Three months ended March 31, 2024 Three months ended March 31, 2023 (in millions) Foreign currency translation Employee benefit plans Total Foreign currency translation Employee benefit plans Total Other comprehensive income/(loss), net of tax: Currency translation differences on investments in foreign subsidiaries $ (96.3) $ — $ (96.3) $ 55.1 $ — $ 55.1 Other comprehensive income/(loss), net — 1.0 1.0 — 4.4 4.4 Other comprehensive income/(loss), net of tax (96.3) 1.0 (95.3) 55.1 4.4 59.5 Beginning balance (670.1) (131.7) (801.8) (815.0) (127.4) (942.4) Other comprehensive income/(loss), net of tax (96.3) 1.0 (95.3) 55.1 4.4 59.5 Ending balance $ (766.4) $ (130.7) $ (897.1) $ (759.9) $ (123.0) $ (882.9)

REVENUE

REVENUE	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE The geographic disaggregation of revenue for the three months ended March 31, 2024 and 2023 are presented below. There are no revenues attributed to the company’s country of domicile, Bermuda. Three months ended March 31, (in millions) 2024 2023 Americas $ 1,140.6 $ 1,083.4 Asia-Pacific (APAC) 68.7 69.9 Europe, Middle East and Africa (EMEA) 266.0 264.9 Total operating revenues $ 1,475.3 $ 1,418.2

COMMON SHARE-BASED COMPENSATION

COMMON SHARE-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
COMMON SHARE-BASED COMPENSATION	COMMON SHARE-BASED COMPENSATION The company recognized total compensation expense of $21.1 million and $37.8 million related to equity-settled common share-based compensation in the three months ended March 31, 2024 and 2023, respectively. Movements on employee common share awards during the periods ended March 31 are detailed below: Three months ended March 31, 2024 Three months ended March 31, 2023 (in millions of common shares, except fair values) Time- Vested Performance- Vested Weighted Average Grant Date Fair Value Time- Vested Performance- Vested Unvested at the beginning of period 10.4 1.6 $ 18.84 10.3 2.1 Granted during the period 4.9 0.9 15.13 4.3 0.7 Forfeited during the period (0.2) (0.1) 18.21 — (0.2) Vested and distributed during the period (4.4) (0.3) 18.29 (4.5) (0.5) Unvested at the end of the period 10.7 2.1 $ 17.41 10.1 2.1 The total fair value of common shares that vested during the three months ended March 31, 2024 was $67.0 million (three months ended March 31, 2023: $87.3 million). The weighted average grant date fair value of the United States (U.S.) dollar share awards that were granted during the three months ended March 31, 2024 was $15.13 (three months ended March 31, 2023: $17.74).

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	EARNINGS PER COMMON SHARE The calculation of earnings per common share (EPS) is as follows: Three months ended March 31, (in millions, except per share data) 2024 2023 Net income attributable to Invesco Ltd. $ 141.5 $ 145.0 Invesco Ltd: Weighted average common shares outstanding - basic 453.2 458.1 Dilutive effect of non-participating common share-based awards 0.3 0.8 Weighted average common shares outstanding - diluted 453.5 458.9 Earnings per common share: -basic $ 0.31 $ 0.32 -diluted $ 0.31 $ 0.32 See Note 8, "Common Share-Based Compensation," for a summary of common share awards outstanding under the company’s common share-based payment programs. These programs could result in the issuance of common shares that would affect the measurement of basic and diluted EPS.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Commitments and contingencies may arise in the ordinary course of business. The company has committed to co-invest in certain investment products, which may be called in future periods. At March 31, 2024, the company’s undrawn co-invest capital commitments were $664.6 million (December 31, 2023: $623.3 million). Certain of our managed investment products have entered into revolving credit facilities with financial institutions. The company provided equity commitments and guarantees to the financial institutions for certain of these revolving credit facilities that are temporary in nature. The revolving credit facilities look first to the respective investment products for repayment and servicing. The company’s equity commitment or guarantee would only be called in the event a particular investment product is unable to meet its obligation. The company believes the likelihood of being required to fund its equity commitments or guarantees under these arrangements to be remote. To date, the company has not been required to fund any equity commitments or guarantees under these arrangements. The maximum amount of future payments under the commitments is $274.6 million and under the guarantees is $30.0 million. The fair value of the guarantee liability is not significant to the consolidated financial statements. The company and some of its subsidiaries have entered into agreements with financial institutions to guarantee certain obligations of other company subsidiaries. The company would be required to perform under these guarantees in the event of certain defaults. The company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote. Legal Contingencies The company is from time to time involved in pending or threatened litigation relating to claims arising in the ordinary course of its business. The nature and progression of litigation can make it difficult to predict the impact a particular lawsuit or claim will have on the company. There are many reasons that the company cannot make these assessments, including, among others, one or more of the following: the proceeding is in its early stages (or merely threatened); the damages sought are unspecified, unsupportable, unexplained or uncertain; the claimant is seeking relief other than compensatory damages; the matter presents novel legal claims or other meaningful legal uncertainties; discovery has not started or is not complete; there are significant facts in dispute; and there are other parties who may share in any ultimate liability. The company and certain related entities have in recent years been subject to various regulatory inquiries, reviews and investigations and legal proceedings, including civil litigation, governmental investigations and enforcement actions. These actions can arise from normal business operations and/or matters that have been the subject of previous regulatory reviews. As a global company with investment products registered in numerous countries and subject to the jurisdiction of one or more regulators in each country, at any given time, our business operations may be subject to review, investigation, or disciplinary action. In assessing the impact that a legal or regulatory matter will have on the company, management evaluates the need for an accrual on a case-by-case basis. If the likelihood of a loss is deemed probable and is reasonably estimable, the estimated loss is accrued. If the likelihood of a loss is assessed as less than probable, a loss is not accrued. If a loss is deemed probable but an amount or range of loss cannot be reasonably estimated, a loss is not accrued but the matter is disclosed. In management’s opinion, adequate accrual has been made as of March 31, 2024 to provide for any such losses that may arise from matters for which the company could reasonably estimate an amount and are deemed probable. Management believes that the ultimate resolution of claims will not materially affect the company’s business, revenue, net income or liquidity. The company is cooperating with requests from the SEC in connection with their investigation of investment advisers’ compliance with record retention requirements relating to certain types of electronic business communications. At this time a range of loss related to this matter cannot be reasonably estimated.

CONSOLIDATED INVESTMENT PRODUCT

CONSOLIDATED INVESTMENT PRODUCTS	3 Months Ended
	Mar. 31, 2024
Consolidated Investment Products [Abstract]
CONSOLIDATED INVESTMENT PRODUCTS	CONSOLIDATED INVESTMENT PRODUCTS The balances related to CIP are identified on the Consolidated Balance Sheets. At March 31, 2024, the company’s net investment in and net receivables from CIP were $521.9 million (December 31, 2023: $546.2 million). The consolidation of CIP had no impact on net income attributable to the company during the three months ended March 31, 2024. The following tables present the fair value hierarchy levels of certain CIP balances which are measured at fair value as of March 31, 2024 and December 31, 2023: As of March 31, 2024 (in millions) Fair Value Measurements Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs Investments Measured at NAV as a practical expedient Assets: Bank loans $ 7,133.8 $ — $ 6,143.3 $ 990.5 $ — Bonds 624.5 11.9 612.3 0.3 — Equity securities 172.9 30.1 19.4 123.4 — Equity and fixed income mutual funds 112.9 0.2 112.7 — — Investments in other private equity funds 412.6 — — — 412.6 Real estate investments 445.5 — — — 445.5 Total assets at fair value $ 8,902.2 $ 42.2 $ 6,887.7 $ 1,114.2 $ 858.1 As of December 31, 2023 (in millions) Fair Value Measurements Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs Investments Measured at NAV as a practical expedient Assets: Bank loans $ 6,837.2 $ — $ 6,140.1 $ 697.1 $ — Bonds 669.8 13.3 656.2 0.3 — Equity securities 231.9 85.2 18.3 128.4 — Equity and fixed income mutual funds 137.9 8.0 129.9 — — Investments in other private equity funds 425.5 — — — 425.5 Real estate investments 463.6 — — — 463.6 Total assets at fair value $ 8,765.9 $ 106.5 $ 6,944.5 $ 825.8 $ 889.1 At March 31, 2024, CIP borrowings with a fair value of $565.0 million (December 31, 2023: $353.7 million) are classified as level 3 in the valuation hierarchy. The following table shows a reconciliation of the beginning and ending fair value measurements for level 3 assets using significant unobservable inputs: Three months ended March 31, 2024 2023 (in millions) Level 3 Assets Level 3 Assets Beginning Balance as of January 1 $ 825.8 $ 368.6 CIP Purchases 275.0 0.1 CIP Sales (2.3) (13.4) Deconsolidation of CIP — (0.6) Gains and losses included in the Consolidated Statements of Income (1.9) (7.6) Transfers from Level 3 into Levels 1 or 2 (16.2) (130.2) Transfers into Level 3 from Levels 1 or 2 34.0 132.2 Foreign exchange (0.2) 2.2 Ending Balance as of March 31 $ 1,114.2 $ 351.3 Non-consolidated Variable interest entities (VIEs) At March 31, 2024, the company's risk of loss with respect to VIEs in which the company is not the primary beneficiary included our investment carrying value of $141.4 million (December 31, 2023: $122.9 million) and unfunded capital commitments of $153.2 million (December 31, 2023: $142.5 million). See the company’s most recently filed Form 10-K for additional disclosures on valuation methodology and fair value.

RELATED PARTIES

RELATED PARTIES	3 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
RELATED PARTIES	RELATED PARTIES MassMutual owns approximately 18.1% in common stock of the company and owns substantially all of the outstanding $4.0 billion in perpetual, non-cumulative preferred shares as of March 31, 2024. Based on the level of shares owned by MassMutual and the corresponding customary minority shareholder rights, which includes representation on Invesco’s Board of Directors, the company considers MassMutual a related party. Additionally, certain managed funds are deemed to be affiliated entities under the related party definition in ASC 850, “Related Party Disclosures.” The majority of the company's Operating revenues and receivables are from Invesco's managed funds. Related parties also include those defined in the company’s proxy statement. Refer to Note 2, "Fair Value of Assets and Liabilities" and Note 3, "Investments" for more information on balances invested in Invesco affiliated funds.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On April 23, 2024, the company declared a first quarter 2024 dividend of $0.205 per common share, payable on June 4, 2024, to common shareholders of record at the close of business on May 14, 2024 with an ex-dividend date of May 13, 2024. On April 23, 2024, the company declared a preferred dividend of $14.75 per preferred share to the holders of preferred shares representing the period from March 1, 2024 through May 31, 2024. The preferred dividend is payable on June 3, 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income attributable to Invesco Ltd.	$ 141.5	$ 145

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

ACCOUNTING POLICIES (Policies)

ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Accounting and Consolidation	Basis of Accounting and Consolidation
Reclassifications	Reclassifications In the quarter ended March 31, 2024, expenses for client-related travel and entertainment and outsourced services were reclassified to General and administrative expenses. The impact of this reclassification on the Consolidated Statements of Income is as follows: • For the three months ended March 31, 2024: decreased Marketing and Property, office and technology expenses by $6.7 million and $23.6 million, respectively, and increased General and administrative by $30.3 million. • For the three months ended March 31, 2023: decreased Marketing and Property, office and technology expenses by $5.4 million and $23.9 million, respectively, and increased General and administrative by $29.3 million. The reclassification had no impact on our reported Operating revenues, Operating income, Net income, or any internal performance measure on which management is compensated.
Accounting Pronouncements Recently Adopted and Pending Accounting Pronouncements	Accounting Pronouncements Recently Adopted None. Pending Accounting Pronouncements Refer to the most recent Form 10-K filed with the SEC.

FAIR VALUE OF ASSETS AND LIAB_2

FAIR VALUE OF ASSETS AND LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value by Balance Sheet Grouping	The fair value of financial instruments is presented in the below summary table. The fair value of financial instruments held by CIP are presented in Note 11, "Consolidated Investment Products." See the company’s most recently filed Form 10-K for additional disclosures on valuation methodology and fair value. March 31, 2024 December 31, 2023 (in millions) Fair Value Fair Value Cash and cash equivalents $ 895.7 $ 1,469.2 Equity investments 297.2 272.4 Assets held for policyholders — 393.9 Policyholder payables (1) — (393.9) Total return swap related to deferred compensation plans 8.1 4.9 ____________ (1) These financial instruments are not measured at fair value on a recurring basis. Policyholder payables were indexed to the value of the assets held for policyholders and changes in fair value were recorded and offset to zero in other operating r
Tri-Level Hierarchy, Carrying Value	The following table presents, by hierarchy levels, the carrying value of the company’s assets and liabilities, including major security type for equity and debt securities, which are measured at fair value on the company’s Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023, respectively: As of March 31, 2024 (in millions) Fair Value Measurements Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets: Cash equivalents: Money market funds (1) $ 434.7 $ 434.7 $ — $ — Investments: (2) Equity investments: Seed capital 86.0 86.0 — — Investments related to deferred compensation plans 211.2 211.2 — — Total return swap related to deferred compensation plans 8.1 — 8.1 — Total $ 740.0 $ 731.9 $ 8.1 $ — Liabilities: Contingent consideration liability $ (1.3) $ — $ — $ (1.3) Total $ (1.3) $ — $ — $ (1.3) As of December 31, 2023 (in millions) Fair Value Measurements Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets: Cash equivalents: Money market funds (1) $ 927.8 $ 927.8 $ — $ — Investments (2) : Equity investments: Seed capital 75.7 75.7 — — Investments related to deferred compensation plans 196.7 196.7 — — Assets held for policyholders (3) 393.9 393.9 — — Total return swap related to deferred compensation plans 4.9 — 4.9 — Total $ 1,599.0 $ 1,594.1 $ 4.9 $ — Liabilities: Contingent consideration liability $ (1.3) $ — $ — $ (1.3) Total $ (1.3) $ — $ — $ (1.3) ____________ ( 1) The balance primarily represents cash held in affiliated money market funds. (2) Equity method and other investments of $651.4 million and $14.9 million, respectively, are excluded from this table (December 31, 2023: $631.8 million and $14.9 million, respectively). These investments are not measured at fair value, in accordance with applicable accounting standards. (3) The majority of A ssets held for policyholders were held in affiliated funds.

INVESTMENTS (Tables)

INVESTMENTS (Tables)	3 Months Ended
	Mar. 31, 2024
Investments [Abstract]
Marketable Securities	The disclosures below include details of the company’s investments. Investments held by CIP are detailed in No te 11, "Consolidated Investment Products." (in millions) March 31, 2024 December 31, 2023 Equity investments: Seed capital $ 86.0 $ 75.7 Investments related to deferred compensation plans 211.2 196.7 Equity method investments 651.4 631.8 Other 14.9 14.9 Total investments (1) $ 963.5 $ 919.1 _________ (1) The majority of the company’s investment balances relate to balances held in affiliated funds and equity method investees.

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Instruments	The disclosures below include details of the company’s debt. Debt of CIP is detailed in Note 11, "Consolidated Investment Products." March 31, 2024 December 31, 2023 (in millions) Carrying Value (3) Fair Value Carrying Value (3) Fair Value $2.0 billion floating rate credit agreement expiring April 26, 2028 $ 367.6 $ 367.6 $ — $ — Unsecured Senior Notes: (1) $600 million 4.000% - due January 30, 2024 (2) — — 599.9 599.1 $500 million 3.750% - due January 15, 2026 498.7 488.0 498.6 489.1 $400 million 5.375% - due November 30, 2043 391.2 391.7 391.0 409.6 Debt $ 1,257.5 $ 1,247.3 $ 1,489.5 $ 1,497.8 ____________ (1) The company’s senior note indentures contain certain restrictions on mergers or consolidations. Beyond these items, there are no other restrictive covenants in the indentures. (2) On January 30, 2024, the outstanding balance of the $600.0 million senior notes was paid in full. (3) The difference between the principal amounts and the carrying values of the senior notes in the table above reflect the unamortized debt issuance costs and discounts.

SHARE CAPITAL (Tables)

SHARE CAPITAL (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Movements in Shares Issued and Outstanding	The number of preferred shares issued and outstanding is represented in the table below: As of (in millions) March 31, 2024 December 31, 2023 Preferred shares issued (1) 4.0 4.0 Preferred shares outstanding (1) 4.0 4.0 ____________ (1) Substantially all the preferred shares are held by Massachusetts Mutual Life Insurance Company (MassMutual) and are subject to a lock-up period of five years, which prohibits the sale of the preferred shares by MassMutual until May 24, 2024. The number of common shares and common share equivalents issued are represented in the table below: As of (in millions) March 31, 2024 December 31, 2023 Common shares issued 566.1 566.1 Less: Treasury shares for which dividend and voting rights do not apply (116.3) (116.6) Common shares outstanding 449.8 449.5

OTHER COMPREHENSIVE INCOME_(L_2

OTHER COMPREHENSIVE INCOME/(LOSS) (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Accumulated Other Comprehensive Income/(Loss)	The components of accumulated other comprehensive income/(loss) were as follows: Three months ended March 31, 2024 Three months ended March 31, 2023 (in millions) Foreign currency translation Employee benefit plans Total Foreign currency translation Employee benefit plans Total Other comprehensive income/(loss), net of tax: Currency translation differences on investments in foreign subsidiaries $ (96.3) $ — $ (96.3) $ 55.1 $ — $ 55.1 Other comprehensive income/(loss), net — 1.0 1.0 — 4.4 4.4 Other comprehensive income/(loss), net of tax (96.3) 1.0 (95.3) 55.1 4.4 59.5 Beginning balance (670.1) (131.7) (801.8) (815.0) (127.4) (942.4) Other comprehensive income/(loss), net of tax (96.3) 1.0 (95.3) 55.1 4.4 59.5 Ending balance $ (766.4) $ (130.7) $ (897.1) $ (759.9) $ (123.0) $ (882.9)

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Geographic Disaggregation of Revenue	The geographic disaggregation of revenue for the three months ended March 31, 2024 and 2023 are presented below. There are no revenues attributed to the company’s country of domicile, Bermuda. Three months ended March 31, (in millions) 2024 2023 Americas $ 1,140.6 $ 1,083.4 Asia-Pacific (APAC) 68.7 69.9 Europe, Middle East and Africa (EMEA) 266.0 264.9 Total operating revenues $ 1,475.3 $ 1,418.2

COMMON SHARE-BASED COMPENSATI_2

COMMON SHARE-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Movements of Share Awards	Movements on employee common share awards during the periods ended March 31 are detailed below: Three months ended March 31, 2024 Three months ended March 31, 2023 (in millions of common shares, except fair values) Time- Vested Performance- Vested Weighted Average Grant Date Fair Value Time- Vested Performance- Vested Unvested at the beginning of period 10.4 1.6 $ 18.84 10.3 2.1 Granted during the period 4.9 0.9 15.13 4.3 0.7 Forfeited during the period (0.2) (0.1) 18.21 — (0.2) Vested and distributed during the period (4.4) (0.3) 18.29 (4.5) (0.5) Unvested at the end of the period 10.7 2.1 $ 17.41 10.1 2.1

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Calculation of Earnings Per Share	The calculation of earnings per common share (EPS) is as follows: Three months ended March 31, (in millions, except per share data) 2024 2023 Net income attributable to Invesco Ltd. $ 141.5 $ 145.0 Invesco Ltd: Weighted average common shares outstanding - basic 453.2 458.1 Dilutive effect of non-participating common share-based awards 0.3 0.8 Weighted average common shares outstanding - diluted 453.5 458.9 Earnings per common share: -basic $ 0.31 $ 0.32 -diluted $ 0.31 $ 0.32

CONSOLIDATED INVESTMENT PRODU_2

CONSOLIDATED INVESTMENT PRODUCTS (Tables)	3 Months Ended
	Mar. 31, 2024
Consolidated Investment Products [Abstract]
Fair Value Hierarchy Levels of Investments Held and Notes Issued by Consolidated Investment Products	The following tables present the fair value hierarchy levels of certain CIP balances which are measured at fair value as of March 31, 2024 and December 31, 2023: As of March 31, 2024 (in millions) Fair Value Measurements Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs Investments Measured at NAV as a practical expedient Assets: Bank loans $ 7,133.8 $ — $ 6,143.3 $ 990.5 $ — Bonds 624.5 11.9 612.3 0.3 — Equity securities 172.9 30.1 19.4 123.4 — Equity and fixed income mutual funds 112.9 0.2 112.7 — — Investments in other private equity funds 412.6 — — — 412.6 Real estate investments 445.5 — — — 445.5 Total assets at fair value $ 8,902.2 $ 42.2 $ 6,887.7 $ 1,114.2 $ 858.1 As of December 31, 2023 (in millions) Fair Value Measurements Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs Investments Measured at NAV as a practical expedient Assets: Bank loans $ 6,837.2 $ — $ 6,140.1 $ 697.1 $ — Bonds 669.8 13.3 656.2 0.3 — Equity securities 231.9 85.2 18.3 128.4 — Equity and fixed income mutual funds 137.9 8.0 129.9 — — Investments in other private equity funds 425.5 — — — 425.5 Real estate investments 463.6 — — — 463.6 Total assets at fair value $ 8,765.9 $ 106.5 $ 6,944.5 $ 825.8 $ 889.1
Beginning And Ending Fair Value Measurements For Level Three Assets And Liabilities Table Text Block	The following table shows a reconciliation of the beginning and ending fair value measurements for level 3 assets using significant unobservable inputs: Three months ended March 31, 2024 2023 (in millions) Level 3 Assets Level 3 Assets Beginning Balance as of January 1 $ 825.8 $ 368.6 CIP Purchases 275.0 0.1 CIP Sales (2.3) (13.4) Deconsolidation of CIP — (0.6) Gains and losses included in the Consolidated Statements of Income (1.9) (7.6) Transfers from Level 3 into Levels 1 or 2 (16.2) (130.2) Transfers into Level 3 from Levels 1 or 2 34.0 132.2 Foreign exchange (0.2) 2.2 Ending Balance as of March 31 $ 1,114.2 $ 351.3

Accounting Policies (Details)

Accounting Policies (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue from External Customer [Line Items]
Marketing expense	$ (18.1)	$ (19.6)
Property, office, and technology expense	(117.6)	(110.5)
General and administrative expense	138.5	105
Reclassification Adjustments [Member]
Revenue from External Customer [Line Items]
Marketing expense	6.7	5.4
Property, office, and technology expense	23.6	23.9
General and administrative expense	$ 30.3	$ 29.3

FAIR VALUE OF ASSETS AND LIAB_3

FAIR VALUE OF ASSETS AND LIABILITIES - Fair Value of Financial Instruments Held by Consolidated Investments (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 895.7	$ 1,469.2	$ 889
Assets held for policyholders	0	393.9
Policyholder payables	0	(393.9)
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	895.7	1,469.2
Equity investments	297.2	272.4
Assets held for policyholders	0	393.9
Policyholder payables	0	(393.9)
Fair Value | Total return swaps related to deferred compensation plans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total return swap related to deferred compensation plans	$ 8.1	$ 4.9

FAIR VALUE OF ASSETS AND LIAB_4

FAIR VALUE OF ASSETS AND LIABILITIES - Tri-Level Hierarchy, Carrying Value (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Equity investments:
Assets held for policyholders	$ 0	$ 393.9
Total return swap related to deferred compensation plans	8.1	4.9
Total	740	1,599
Liabilities:
Total	(1.3)	(1.3)
Equity method investments	651.4	631.8
Other investments	14.9	14.9
Contingent consideration liability
Liabilities:
Contingent consideration liability	(1.3)	(1.3)
Money market funds
Cash equivalents:
Money market funds	434.7	927.8
Seed capital
Equity investments:
Equity investments	86	75.7
Investments related to deferred compensation plans
Equity investments:
Equity investments	211.2	196.7
Quoted Prices in Active Markets for Identical Assets (Level 1)
Equity investments:
Assets held for policyholders		393.9
Total return swap related to deferred compensation plans	0	0
Total	731.9	1,594.1
Liabilities:
Total	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Contingent consideration liability
Liabilities:
Contingent consideration liability	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Money market funds
Cash equivalents:
Money market funds	434.7	927.8
Quoted Prices in Active Markets for Identical Assets (Level 1) | Seed capital
Equity investments:
Equity investments	86	75.7
Quoted Prices in Active Markets for Identical Assets (Level 1) | Investments related to deferred compensation plans
Equity investments:
Equity investments	211.2	196.7
Significant Other Observable Inputs (Level 2)
Equity investments:
Assets held for policyholders		0
Total return swap related to deferred compensation plans	8.1	4.9
Total	8.1	4.9
Liabilities:
Total	0	0
Significant Other Observable Inputs (Level 2) | Contingent consideration liability
Liabilities:
Contingent consideration liability	0	0
Significant Other Observable Inputs (Level 2) | Money market funds
Cash equivalents:
Money market funds	0	0
Significant Other Observable Inputs (Level 2) | Seed capital
Equity investments:
Equity investments	0	0
Significant Other Observable Inputs (Level 2) | Investments related to deferred compensation plans
Equity investments:
Equity investments	0	0
Significant Unobservable Inputs (Level 3)
Equity investments:
Assets held for policyholders		0
Total return swap related to deferred compensation plans	0	0
Total	0	0
Liabilities:
Total	(1.3)	(1.3)
Significant Unobservable Inputs (Level 3) | Contingent consideration liability
Liabilities:
Contingent consideration liability	(1.3)	(1.3)
Significant Unobservable Inputs (Level 3) | Money market funds
Cash equivalents:
Money market funds	0	0
Significant Unobservable Inputs (Level 3) | Seed capital
Equity investments:
Equity investments	0	0
Significant Unobservable Inputs (Level 3) | Investments related to deferred compensation plans
Equity investments:
Equity investments	$ 0	$ 0

FAIR VALUE OF ASSETS AND LIAB_5

FAIR VALUE OF ASSETS AND LIABILITIES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 8.1		$ 4.9
Total return swaps related to deferred compensation plans | Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative notional amount	424.4		393
Derivative asset	8.1		$ 4.9
Market valuation gain recognized	$ 18	$ 13.1

INVESTMENTS - Details of Compan

INVESTMENTS - Details of Company Investments (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Schedule of Investments [Line Items]
Equity method investments	$ 651.4	$ 631.8
Other	14.9	14.9
Total investments	963.5	919.1
Seed capital
Schedule of Investments [Line Items]
Equity investments	86	75.7
Investments related to deferred compensation plans
Schedule of Investments [Line Items]
Equity investments	$ 211.2	$ 196.7

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Investments [Abstract]
Net gains	$ 16.2	$ 6.7

DEBT - Schedule of Long-Term De

DEBT - Schedule of Long-Term Debt Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2024	Jan. 30, 2024	Dec. 31, 2023
Unsecured Senior Notes | $600 million 4.000% - due January 30, 2024
Debt Instrument [Line Items]
Debt instrument, face amount	$ 600	$ 600
Debt instrument, interest rate, stated percentage	4%
Unsecured Senior Notes | $500 million 3.750% - due January 15, 2026
Debt Instrument [Line Items]
Debt instrument, face amount	$ 500
Debt instrument, interest rate, stated percentage	3.75%
Unsecured Senior Notes | $400 million 5.375% - due November 30, 2043
Debt Instrument [Line Items]
Debt instrument, face amount	$ 400
Debt instrument, interest rate, stated percentage	5.375%
Carrying Value
Debt Instrument [Line Items]
Long-term debt	$ 1,257.5		$ 1,489.5
Carrying Value | Unsecured Senior Notes | $600 million 4.000% - due January 30, 2024
Debt Instrument [Line Items]
Long-term debt	0		599.9
Carrying Value | Unsecured Senior Notes | $500 million 3.750% - due January 15, 2026
Debt Instrument [Line Items]
Long-term debt	498.7		498.6
Carrying Value | Unsecured Senior Notes | $400 million 5.375% - due November 30, 2043
Debt Instrument [Line Items]
Long-term debt	391.2		391
Carrying Value | Floating rate credit facility
Debt Instrument [Line Items]
Credit facility capacity	2,000
Line of credit facility, amount outstanding	367.6		0
Fair Value
Debt Instrument [Line Items]
Long-term debt	1,247.3		1,497.8
Fair Value | Unsecured Senior Notes | $600 million 4.000% - due January 30, 2024
Debt Instrument [Line Items]
Long-term debt	0		599.1
Fair Value | Unsecured Senior Notes | $500 million 3.750% - due January 15, 2026
Debt Instrument [Line Items]
Long-term debt	488		489.1
Fair Value | Unsecured Senior Notes | $400 million 5.375% - due November 30, 2043
Debt Instrument [Line Items]
Long-term debt	391.7		409.6
Fair Value | Floating rate credit facility
Debt Instrument [Line Items]
Line of credit facility, amount outstanding	$ 367.6		$ 0

SHARE CAPITAL - Movements In Sh

SHARE CAPITAL - Movements In Shares Issued and Outstanding (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Equity [Abstract]
Preferred shares issued (in shares)	4	4
Preferred shares outstanding (in shares)	4	4
Lock up, term	5 years
Common shares issued	566.1	566.1
Less: Treasury shares for which dividend and voting rights do not apply	(116.3)	(116.6)
Common shares outstanding	449.8	449.5

OTHER COMPREHENSIVE INCOME_(L_3

OTHER COMPREHENSIVE INCOME/(LOSS) - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Currency translation differences on investments in foreign subsidiaries	$ (96.3)	$ 55.1
Other comprehensive income/(loss), net	1	4.4
Other comprehensive income/(loss)	(95.3)	59.5
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	15,170.3	15,843.5
Other comprehensive income/(loss), net of tax	(95.3)	59.5
Ending balance	15,185	15,930.2
Foreign currency translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Currency translation differences on investments in foreign subsidiaries	(96.3)	55.1
Other comprehensive income/(loss), net	0	0
Other comprehensive income/(loss)	(96.3)	55.1
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(670.1)	(815)
Other comprehensive income/(loss), net of tax	(96.3)	55.1
Ending balance	(766.4)	(759.9)
Employee benefit plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Currency translation differences on investments in foreign subsidiaries	0	0
Other comprehensive income/(loss), net	1	4.4
Other comprehensive income/(loss)	1	4.4
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(131.7)	(127.4)
Other comprehensive income/(loss), net of tax	1	4.4
Ending balance	(130.7)	(123)
Total
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income/(loss)	(95.3)	59.5
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(801.8)	(942.4)
Other comprehensive income/(loss), net of tax	(95.3)	59.5
Ending balance	$ (897.1)	$ (882.9)

REVENUE - Disaggregation of Rev

REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue, Major Customer [Line Items]
Total operating revenues	$ 1,475.3	$ 1,418.2
Bermuda
Revenue, Major Customer [Line Items]
Total operating revenues	0	0
Americas
Revenue, Major Customer [Line Items]
Total operating revenues	1,140.6	1,083.4
Asia-Pacific (APAC)
Revenue, Major Customer [Line Items]
Total operating revenues	68.7	69.9
Europe, Middle East and Africa (EMEA)
Revenue, Major Customer [Line Items]
Total operating revenues	$ 266	$ 264.9

COMMON SHARE-BASED COMPENSATI_3

COMMON SHARE-BASED COMPENSATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Common share-based compensation expense	$ 21.1	$ 37.8
Fair value of vested shares	$ 67	$ 87.3
Weighted average fair value of shares granted (in USD per share)	$ 15.13	$ 17.74
Unrecognized compensation cost related to non-vested shares	$ 182.5
Weighted average non-vested shares compensation cost expected to recognize	2 years 11 months 8 days

COMMON SHARE-BASED COMPENSATI_4

COMMON SHARE-BASED COMPENSATION - Movements on Share Awards (Details) - $ / shares shares in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Weighted Average Grant Date Fair Value
Unvested at the beginning of period (in USD per share)	$ 18.84
Granted during the period (in USD per share)	15.13	$ 17.74
Forfeited during the period (in USD per share)	18.21
Vested and distributed during the period (in USD per share)	18.29
Unvested at the end of the period (in USD per share)	$ 17.41
Time- Vested
Number of Shares
Unvested at the beginning of period (in shares)	10.4	10.3
Granted during the period (in shares)	4.9	4.3
Forfeited during the period (in shares)	(0.2)	0
Vested and distributed during the period (in shares)	(4.4)	(4.5)
Unvested at the end of the period (in shares)	10.7	10.1
Performance- Vested
Number of Shares
Unvested at the beginning of period (in shares)	1.6	2.1
Granted during the period (in shares)	0.9	0.7
Forfeited during the period (in shares)	(0.1)	(0.2)
Vested and distributed during the period (in shares)	(0.3)	(0.5)
Unvested at the end of the period (in shares)	2.1	2.1

EARNINGS PER COMMON SHARE (Deta

EARNINGS PER COMMON SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Net income attributable to Invesco Ltd.	$ 141.5	$ 145
Weighted average common shares outstanding - basic (shares)	453.2	458.1
Dilutive effect of non-participating common share-based awards (shares)	0.3	0.8
Weighted average common shares outstanding - diluted (shares)	453.5	458.9
Earnings per common share:
Basic (in USD per share)	$ 0.31	$ 0.32
Diluted (in USD per share)	$ 0.31	$ 0.32

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Loss Contingencies [Line Items]
Undrawn capital commitments	$ 664.6	$ 623.3
Equity Commitment
Loss Contingencies [Line Items]
Maximum guarantee	30
Equity Commitment | Maximum
Loss Contingencies [Line Items]
Commitments	$ 274.6

CONSOLIDATED INVESTMENT PRODU_3

CONSOLIDATED INVESTMENT PRODUCTS - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Net interests in consolidated investment products	$ 521.9	$ 546.2
Debt of CIP	7,370.4	7,121.8
Variable interest entity, unfunded capital commitments	153.2	142.5
Fair Value, Inputs, Level 3 [Member]
Variable Interest Entity [Line Items]
Debt of CIP	565	353.7
De-consolidated
Variable Interest Entity [Line Items]
Carrying value and maximum risk of loss with respect to VIEs in which the Company is not primary beneficiary	$ 141.4	$ 122.9

CONSOLIDATED INVESTMENT PRODU_4

CONSOLIDATED INVESTMENT PRODUCTS - Fair Value Hierarchy Levels of Investments Held and Notes Issued by Consolidated Investment Products (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Segment Reporting, Other Significant Reconciling Items [Line Items]
Total assets at fair value	$ 8,902.2	$ 8,765.9
Consolidated
Segment Reporting, Other Significant Reconciling Items [Line Items]
Real estate investments	445.5	463.6
Total assets at fair value	8,902.2	8,765.9
Consolidated | Quoted Prices in Active Markets for Identical Assets (Level 1)
Segment Reporting, Other Significant Reconciling Items [Line Items]
Real estate investments	0	0
Total assets at fair value	42.2	106.5
Consolidated | Significant Other Observable Inputs (Level 2)
Segment Reporting, Other Significant Reconciling Items [Line Items]
Real estate investments	0	0
Total assets at fair value	6,887.7	6,944.5
Consolidated | Significant Unobservable Inputs (Level 3)
Segment Reporting, Other Significant Reconciling Items [Line Items]
Real estate investments	0	0
Total assets at fair value	1,114.2	825.8
Consolidated | Investments Measured at NAV as a practical expedient
Segment Reporting, Other Significant Reconciling Items [Line Items]
Real estate investments	445.5	463.6
Total assets at fair value	858.1	889.1
Consolidated | Bank loans
Segment Reporting, Other Significant Reconciling Items [Line Items]
Bank loan, bonds and equity securities	7,133.8	6,837.2
Consolidated | Bank loans | Quoted Prices in Active Markets for Identical Assets (Level 1)
Segment Reporting, Other Significant Reconciling Items [Line Items]
Bank loan, bonds and equity securities	0	0
Consolidated | Bank loans | Significant Other Observable Inputs (Level 2)
Segment Reporting, Other Significant Reconciling Items [Line Items]
Bank loan, bonds and equity securities	6,143.3	6,140.1
Consolidated | Bank loans | Significant Unobservable Inputs (Level 3)
Segment Reporting, Other Significant Reconciling Items [Line Items]
Bank loan, bonds and equity securities	990.5	697.1
Consolidated | Bank loans | Investments Measured at NAV as a practical expedient
Segment Reporting, Other Significant Reconciling Items [Line Items]
Bank loan, bonds and equity securities	0	0
Consolidated | Bonds
Segment Reporting, Other Significant Reconciling Items [Line Items]
Bank loan, bonds and equity securities	624.5	669.8
Consolidated | Bonds | Quoted Prices in Active Markets for Identical Assets (Level 1)
Segment Reporting, Other Significant Reconciling Items [Line Items]
Bank loan, bonds and equity securities	11.9	13.3
Consolidated | Bonds | Significant Other Observable Inputs (Level 2)
Segment Reporting, Other Significant Reconciling Items [Line Items]
Bank loan, bonds and equity securities	612.3	656.2
Consolidated | Bonds | Significant Unobservable Inputs (Level 3)
Segment Reporting, Other Significant Reconciling Items [Line Items]
Bank loan, bonds and equity securities	0.3	0.3
Consolidated | Bonds | Investments Measured at NAV as a practical expedient
Segment Reporting, Other Significant Reconciling Items [Line Items]
Bank loan, bonds and equity securities	0	0
Consolidated | Equity securities, Equity and fixed income mutual funds
Segment Reporting, Other Significant Reconciling Items [Line Items]
Bank loan, bonds and equity securities	172.9	231.9
Equity and fixed income mutual funds, and investments in other private equity funds	112.9	137.9
Consolidated | Equity securities, Equity and fixed income mutual funds | Quoted Prices in Active Markets for Identical Assets (Level 1)
Segment Reporting, Other Significant Reconciling Items [Line Items]
Bank loan, bonds and equity securities	30.1	85.2
Equity and fixed income mutual funds, and investments in other private equity funds	0.2	8
Consolidated | Equity securities, Equity and fixed income mutual funds | Significant Other Observable Inputs (Level 2)
Segment Reporting, Other Significant Reconciling Items [Line Items]
Bank loan, bonds and equity securities	19.4	18.3
Equity and fixed income mutual funds, and investments in other private equity funds	112.7	129.9
Consolidated | Equity securities, Equity and fixed income mutual funds | Significant Unobservable Inputs (Level 3)
Segment Reporting, Other Significant Reconciling Items [Line Items]
Bank loan, bonds and equity securities	123.4	128.4
Equity and fixed income mutual funds, and investments in other private equity funds	0	0
Consolidated | Equity securities, Equity and fixed income mutual funds | Investments Measured at NAV as a practical expedient
Segment Reporting, Other Significant Reconciling Items [Line Items]
Bank loan, bonds and equity securities	0	0
Equity and fixed income mutual funds, and investments in other private equity funds	0	0
Consolidated | Investments in other private equity funds
Segment Reporting, Other Significant Reconciling Items [Line Items]
Equity and fixed income mutual funds, and investments in other private equity funds	412.6	425.5
Consolidated | Investments in other private equity funds | Quoted Prices in Active Markets for Identical Assets (Level 1)
Segment Reporting, Other Significant Reconciling Items [Line Items]
Equity and fixed income mutual funds, and investments in other private equity funds	0	0
Consolidated | Investments in other private equity funds | Significant Other Observable Inputs (Level 2)
Segment Reporting, Other Significant Reconciling Items [Line Items]
Equity and fixed income mutual funds, and investments in other private equity funds	0	0
Consolidated | Investments in other private equity funds | Significant Unobservable Inputs (Level 3)
Segment Reporting, Other Significant Reconciling Items [Line Items]
Equity and fixed income mutual funds, and investments in other private equity funds	0	0
Consolidated | Investments in other private equity funds | Investments Measured at NAV as a practical expedient
Segment Reporting, Other Significant Reconciling Items [Line Items]
Equity and fixed income mutual funds, and investments in other private equity funds	$ 412.6	$ 425.5

CONSOLIDATED INVESTMENT PRODU_5

CONSOLIDATED INVESTMENT PRODUCTS - Beginning and Ending Fair Value Measurements for Level 3 Assets and Liabilities (Details) - Significant Unobservable Inputs (Level 3) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance as of January 1	$ 825.8	$ 368.6
CIP Purchases	275	0.1
CIP Sales	(2.3)	(13.4)
Deconsolidation of CIP	0	(0.6)
Gains and losses included in the Consolidated Statements of Income	(1.9)	(7.6)
Transfers from Level 3 into Levels 1 or 2	(16.2)	(130.2)
Transfers into Level 3 from Levels 1 or 2	34	132.2
Foreign exchange	(0.2)	2.2
Ending Balance as of March 31	$ 1,114.2	$ 351.3

RELATED PARTIES (Details)

RELATED PARTIES (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Related Party Transactions [Line Items]
Stock consideration	$ 4,010.5	$ 4,010.5
MassMutual | Invesco | MassMutual
Related Party Transactions [Line Items]
Approximate stake help in common stock of combined firm (percent)	18.10%

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - $ / shares		3 Months Ended
	Apr. 23, 2024	Mar. 31, 2024	Mar. 31, 2023
Subsequent Event [Line Items]
Common stock dividends declared per share (in USD per share)		$ 0.20	$ 0.1875
Preferred stock dividend declared (in USD per share)		$ 14.75	$ 14.75
Subsequent Event
Subsequent Event [Line Items]
Common stock dividends declared per share (in USD per share)	$ 0.205
Preferred stock dividend declared (in USD per share)	$ 14.75