CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities
Net income	$ 2,208.3	$ 2,135.8	$ 1,835.7
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation, amortization and impairment of property, equipment and software	405.8	254.1	254.8
Amortization and impairment of acquisition-related assets and retention arrangements	199.7	250.1	226.8
Fair value remeasurement of contingent consideration liability	0.0	(13.4)	(82.4)
Stock-based compensation expense	216.9	247.3	265.6
Net gains recognized on investments	(452.4)	(340.2)	(460.8)
Net (investments) redemptions in investment products used to economically hedge deferred compensation liabilities	8.0	(93.2)	56.1
Net change in securities held by consolidated investment products	(1,002.7)	(760.4)	(1,070.3)
Other changes in assets and liabilities	169.8	5.5	193.6
Net cash provided by operating activities	1,753.4	1,685.6	1,219.1
Cash flows from investing activities
Purchases of sponsored investment products	(112.9)	(100.1)	(85.3)
Dispositions of sponsored investment products	769.1	533.4	616.6
Net cash of investment products upon deconsolidation	(63.1)	(15.8)	(56.8)
Additions to property, equipment and software	(274.2)	(423.4)	(307.9)
Other investing activity	(88.6)	(171.6)	(38.4)
Net cash provided by (used in) investing activities	230.3	(177.5)	128.2
Cash flows from financing activities
Repurchases of common stock	(620.9)	(337.2)	(254.4)
Common share issuances under stock-based compensation plans	(22.3)	(33.3)	(18.0)
Dividends paid to common stockholders and equity-unit holders	(1,143.0)	(1,135.6)	(1,121.7)
Net distributions to non-controlling interests in consolidated entities	(34.4)	(36.7)	(43.3)
Net subscriptions from redeemable non-controlling interest holders	543.2	606.2	358.8
Net cash used in financing activities	(1,277.4)	(936.6)	(1,078.6)
Effect of exchange rate changes on cash and cash equivalents of consolidated investment products	(1.9)	(2.4)	0.4
Net change in cash and cash equivalents during year	704.4	569.1	269.1
Cash and cash equivalents at beginning of year	2,712.9	2,143.8	1,874.7
Cash and cash equivalents at end of year	$ 3,417.3	$ 2,712.9	$ 2,143.8