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Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenue:        
Revenue $ 170.7 $ 205.9 $ 349.2 $ 413.4
Total revenue 174.7 207.1 357.3 414.3
Operating expenses:        
Impairment of goodwill 0.0 0.0 16.4 0.0
Amortization of acquired intangibles 1.9 1.7 3.5 3.3
Total operating expenses 148.5 160.5 257.0 299.7
Operating income 26.2 46.6 100.3 114.6
Non-operating income and (expense):        
Net consolidated Funds’ investment gains (losses) 42.2 (2.4) 11.3 18.2
Total non-operating income (loss) 35.0 (10.9) (3.4) 3.8
Income from continuing operations before taxes 61.2 35.7 96.9 118.4
Income tax expense 7.3 14.1 20.9 35.7
Income from continuing operations 53.9 21.6 76.0 82.7
Gain (loss) on disposal of discontinued operations, net of tax 0.0 0.0 0.0 0.0
Net income 53.9 21.6 76.0 82.7
Net income (loss) attributable to non-controlling interests in consolidated Funds 35.0 (6.4) 24.5 2.0
Net income attributable to controlling interests $ 18.9 $ 28.0 $ 51.5 $ 80.7
Earnings per share (basic) attributable to controlling interests (in dollars per share) $ 0.23 $ 0.31 $ 0.62 $ 0.85
Earnings per share (diluted) attributable to controlling interests (in dollars per share) 0.23 0.31 0.62 0.85
Continuing operations earnings per share (basic) attributable to controlling interests (in dollars per share) 0.23 0.31 0.62 0.85
Continuing operations earnings per share (diluted) attributable to controlling interests (in dollars per share) $ 0.23 $ 0.31 $ 0.62 $ 0.85
Weighted average ordinary shares outstanding (in shares) 80,435,389 91,457,301 82,758,277 94,550,527
Weighted average diluted ordinary shares outstanding (in shares) 80,449,124 91,495,633 82,774,091 94,669,475
Investments in unconsolidated Funds        
Revenue:        
Other revenue $ 2.0 $ 1.5 $ 3.6 $ 2.9
Operating expenses:        
Compensation and benefits 116.9 123.7 174.3 224.8
General and administrative expense 24.5 31.1 52.2 63.6
Impairment of goodwill     16.4 0.0
Amortization of acquired intangibles 1.9 1.7 3.5 3.3
Depreciation and other amortization 5.1 4.0 10.4 7.8
Non-operating income and (expense):        
Investment income (loss) 6.6 2.1 (7.1) 9.1
Interest income 0.2 0.3 0.5 1.4
Interest expense (7.4) (8.8) (15.2) (15.8)
Consolidated Funds        
Revenue:        
Total revenue 1.7 1.9 3.2 3.0
Operating expenses:        
Total operating expenses 0.1 0.0 0.2 0.2
Non-operating income and (expense):        
Net consolidated Funds’ investment gains (losses) 35.6 (4.5) 18.4 9.1
Net income (loss) attributable to non-controlling interests in consolidated Funds 35.0 (6.4) 24.5 2.0
Management fees        
Revenue:        
Revenue 170.7 205.9 349.2 413.4
Management fees | Investments in unconsolidated Funds        
Revenue:        
Revenue 170.7 205.9 349.2 413.4
Performance fees | Investments in unconsolidated Funds        
Revenue:        
Revenue $ 0.3 $ (2.2) $ 1.3 $ (5.0)