FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2015

FAIR VALUE MEASUREMENTS

Schedule of assets, liabilities and redeemable noncontrolling interests presented in the financial statements or disclosed in the notes to the financial statements at fair value on a recurring basis

The following table presents assets, liabilities and redeemable noncontrolling interests presented in the financial statements or disclosed in the notes to the financial statements at fair value on a recurring basis as of December 31, 2015 (in millions):

		Fair value measurements using:
		Quoted prices in active markets for identical assets and liabilities (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total
Assets:
Cash equivalents		$	57.4	$	189.5	$	—	$	246.9
Futures			0.3		—		—		0.3
Trading securities:
Consolidated seeded investment products			70.1		60.6		—		130.7
Unconsolidated seeded investment products (1)			104.9		—		—		104.9
Investments in advised mutual funds			4.2		—		—		4.2
Investments related to deferred compensation plans			16.3		—		—		16.3
Available-for-sale securities:
Unconsolidated seeded investment products			71.0		—		—		71.0
Total investment securities			266.5		60.6		—		327.1
Total assets		$	324.2	$	250.1	$	—	$	574.3
Liabilities:
Index swaps		$	—	$	0.1	$	—	$	0.1
Futures			0.1		—		—		0.1
Credit default swaps			—		0.5		—		0.5
Current portion of long-term debt (2)			—		158.6		—		158.6
Long-term debt (1)			—		307.6		—		307.6
Kapstream contingent consideration			—		—		6.9		6.9
VelocityShares contingent consideration			—		—		13.1		13.1
Total liabilities		$	0.1	$	466.8	$	20.0	$	486.9
Redeemable noncontrolling interests:
Consolidated seeded investment products		$	6.1	$	7.7	$	—	$	13.8
INTECH			—		—		8.0		8.0
Total redeemable noncontrolling interests		$	6.1	$	7.7	$	8.0	$	21.8
(1)	Represents unconsolidated seeded investment products where JCG's ownership percentage is between 20% and 50%. The investments are classified as equity method and are carried at fair value due to the nature of the underlying investments.
(2)	Carried at amortized cost and disclosed at fair value.

The following table presents assets, liabilities and redeemable noncontrolling interests presented in the financial statements or disclosed in the notes to the financial statements at fair value on a recurring basis as of December 31, 2014 (in millions):

		Fair value measurements using:
		Quoted prices in active markets for identical assets and liabilities (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total
Assets:
Cash equivalents		$	7.7	$	292.5	$	—	$	300.2
Index swaps			—		0.3		—		0.3
Trading securities:
Consolidated seeded investment products			90.8		121.7		—		212.5
Unconsolidated seeded investment products (1)			45.8		—		—		45.8
Investments in advised mutual funds			4.4		—		—		4.4
Investments related to deferred compensation plans			13.0		—		—		13.0
Available-for-sale securities:
Unconsolidated seeded investment products			68.3		—		—		68.3
Total investment securities			222.3		121.7		—		344.0
Total assets		$	230.0	$	414.5	$	—	$	644.5
Liabilities:
Long-term debt (2)		$	—	$	558.0	$	—	$	558.0
VelocityShares contingent consideration			—		—		17.9		17.9
Futures			1.2		—		—		1.2
Total liabilities		$	1.2	$	558.0	$	17.9	$	577.1
Redeemable noncontrolling interests in INTECH		$	—	$	—	$	5.4	$	5.4
(1)	Represents unconsolidated seeded investment products where JCG's ownership percentage is between 20% and 50%. The investments are classified as equity method and are carried at fair value due to the nature of the underlying investments.
(2)	Carried at amortized cost and disclosed at fair value.

Schedule of changes in fair value of the recurring Level 3 fair value measurement

JCG's Level 3 recurring fair value measurements as of December 31, 2015 and 2014, are as follows (in millions):

	Year ended December 31,
	2015									2014
	Redeemable noncontrolling interests in INTECH			VelocityShares contingent consideration			Kapstream contingent consideration			Redeemable noncontrolling interests			VelocityShares contingent consideration
Beginning of year fair value	$	5.4		$	17.9		$	—		$	7.3		$	—
Distributions		(0.7	)		(10.0	)		—			(0.6	)		—
Current earnings		0.6			—			—			0.5			—
Purchase of redeemable noncontrolling interests		—			—			—			(0.6	)		—
Amortization of INTECH appreciation rights		3.4			—			—			—			—
Issuance		—			—			6.0			—			17.9
Foreign currency translation		—			—			(0.3	)		—			—
Change in fair value		(0.7	)		5.2			1.2			(1.2	)		—
End of year fair value	$	8.0		$	13.1		$	6.9		$	5.4		$	17.9

Schedule of transfers from Level 1 and Level 2 classifications

Transfers are recognized at the end of each reporting period. Transfers from Level 1 and Level 2 classifications for the years ended December 31, 2015 and 2014, are summarized as follows (in millions):

	Year ended December 31,
	2015		2014
Transfers from Level 1 to Level 2	$	—	$	4.9
Transfers from Level 2 to Level 1	$	44.4	$	1.2