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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Millions, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues        
Investment advisory fees $ 611.7 $ 492.0 $ 1,200.5 $ 963.8
Administrative fees 101.4 84.7 194.5 168.3
Investment income of savings bank subsidiary 1.4 1.6 2.7 3.3
Total revenues 714.5 578.3 1,397.7 1,135.4
Interest expense on savings bank deposits 0.8 0.9 1.6 1.8
Net revenues 713.7 577.4 1,396.1 1,133.6
Operating expenses        
Compensation and related costs 248.8 215.1 491.7 422.8
Advertising and promotion 20.6 20.1 46.0 43.6
Depreciation and amortization of property and equipment 17.9 15.5 34.5 30.9
Occupancy and facility costs 28.9 25.8 56.6 51.5
Other operating expenses 70.9 47.8 129.2 93.0
Total operating expenses 387.1 324.3 758.0 641.8
Net operating income 326.6 253.1 638.1 491.8
Non-operating investment income 5.6 3.9 9.5 9.2
Income before income taxes 332.2 257.0 647.6 501.0
Provision for income taxes 127.5 98.5 248.3 189.5
Net income $ 204.7 $ 158.5 $ 399.3 $ 311.5
Earnings per share on common stock        
Basic (in dollars per share) $ 0.79 $ 0.61 $ 1.54 $ 1.20
Diluted (in dollars per share) $ 0.76 $ 0.59 $ 1.49 $ 1.17
Dividends declared per share (in dollars per share) $ 0.31 $ 0.27 $ 0.62 $ 0.54