Equity Accounted Investees

12 Months Ended

Dec. 31, 2019

Equity Method Investments and Joint Ventures [Abstract]

The following tables present summarized financial information for Affiliates and Funds accounted for under the equity method (in millions):



	For the year ended December 31,
Statements of Income	2019		2018		2017
Net revenues⁽¹⁾	$	13.5	$	12.9	$	318.9
Operating income	4.7		4.5		94.1
Other income, net	—		—		197.4
Income before income taxes	4.7		4.5		291.5
Less income tax expense	—		—		5.5
Exclude: non-controlling interests income	1.9		1.8		247.6
Net income attributable to controlling interests	$	2.8	$	2.7	$	38.4
BSIG equity in net income of equity method investees⁽²⁾	$	2.8	$	2.7	$	16.3



	As of December 31,
Balance Sheets	2019		2018
Total assets	$	4.2	$	3.8
Total liabilities	1.9		1.7
Non-controlling interests in subsidiaries	0.3		0.2
Members’ equity	$	2.0	$	1.9
BSIG equity investment and undistributed earnings of affiliated companies, before consolidating and reconciling adjustments	$	2.0	$	1.9
BSIG investment in equity method investees	$	2.0	$	1.9


(1)	Net revenues include advisory fees for asset management services and investment income, including interest and dividends from consolidated investment partnerships.


(2)	ICM, an equity-accounted Affiliate, uses a revenue share model.

As disclosed in Note 4, as of November 30, 2017, the Company reclassified its investment in Heitman to a cost-method investment. Heitman contributed to the Company’s financial results of operations for the eleven-month period from January 1, 2017 through November 30, 2017. The financial results of operations from Heitman for this eleven-month period are therefore included in the summarized statements of income table above.