Acquisitions (Tables)

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of estimated fair values of the assets acquired and liabilities

The acquisition-date fair value of the consideration transferred and the estimated fair values of the assets acquired and liabilities assumed at the acquisition date are as follows (Dollars in millions):

Acquisition-date fair value of consideration transferred
Cash	$	161.2
Shares of common stock (see Note 15)	25.0
Total consideration transferred	$	186.2
Estimated fair value of assets acquired and liabilities assumed
Cash and receivables	$	11.0
Investments in Abingworth funds	3.8
Lease right-of-use assets, fixed assets, and other assets, net	3.7
Deferred tax assets	6.4
Finite-lived intangible assets	88.0
Goodwill	91.1
Lease liabilities	(2.7)
Accrued expenses, accrued compensation and benefits, and other liabilities	(10.9)
Non-controlling interests in Abingworth entities(1)	(4.2)
Total	$	186.2

(1)    Represents assets held by Abingworth entities which are consolidated VIEs. These assets are attributable to employees and are therefore reflected as non-controlling interests, and include investments in funds in which the Company did not acquire direct economic interests, which are presented as investments in Abingworth funds above.

Schedule of acquisition-date fair value of consideration transferred and estimated fair values of assets acquired and liabilities assumed

The acquisition-date fair value of the consideration transferred and the allocation of cost to the assets acquired and liabilities assumed at the acquisition date are as follows (Dollars in millions):

Acquisition-date fair value of consideration transferred
Cash	$	618.4
Shares of common stock (see Note 15)	194.5
Total consideration transferred	$	812.9
Allocation of cost to assets acquired and liabilities assumed
Acquired contractual rights	$	794.3
Acquired CLO senior and subordinated notes	175.9
Assumed CLO borrowings outstanding (see Note 8)	(157.3)
Total cost of assets acquired, net of liabilities assumed	$	812.9