UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024
Cash flows from operating activities
Net income	$ 1,747.7	$ 1,719.1
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation, amortization and impairment of property, equipment and software	203.7	188.4
Amortization and impairment of acquisition-related assets and retention arrangements	165.8	196.5
Fair value remeasurement of contingent consideration liability	0.0	(13.4)
Stock-based compensation expense	134.2	162.2
Net gains recognized on investments	(347.5)	(332.1)
Net redemptions in investment products used to economically hedge deferred compensation liabilities	110.0	29.8
Net change in securities held by consolidated investment products	(821.4)	(517.9)
Other changes in assets and liabilities	579.6	534.9
Net cash provided by operating activities	1,772.1	1,967.5
Cash flows from investing activities
Purchases of sponsored investment products	(134.9)	(89.4)
Dispositions of sponsored investment products	473.0	303.1
Net cash of investment products upon consolidation (deconsolidation)	(35.8)	(15.7)
Additions to property, equipment and software	(207.5)	(310.4)
Other investing activity	(113.7)	(42.6)
Net cash used in investing activities	(18.9)	(155.0)
Cash flows from financing activities
Repurchases of common stock	(481.8)	(269.1)
Common share issuances under stock-based compensation plans	30.2	28.1
Dividends paid to common stockholders and equity-unit holders	(858.5)	(851.0)
Net contributions (distributions) to non-controlling interests in consolidated entities	(5.6)	2.6
Net subscriptions from redeemable non-controlling interest holders	530.1	361.2
Net cash used in financing activities	(785.6)	(728.2)
Effect of exchange rate changes on cash and cash equivalents of consolidated investment products	3.4	0.5
Net change in cash and cash equivalents during period	971.0	1,084.8
Cash and cash equivalents at beginning of period, including $63.1 million at December 31, 2024, and $77.2 million at December 31, 2023, held by consolidated investment products	2,712.9	2,143.8
Cash and cash equivalents at end of period, including $49.1 million at September 30, 2025, and $55.1 million at September 30, 2024, held by consolidated investment products	$ 3,683.9	$ 3,228.6