XML 75 R63.htm IDEA: XBRL DOCUMENT v3.20.2
Segments - Reconciling Adjustments (Details)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
USD ($)
segment
Sep. 30, 2019
USD ($)
segment
Sep. 30, 2020
USD ($)
segment
Sep. 30, 2019
USD ($)
segment
Segment Reporting Information [Line Items]        
Number of reportable segments (in segments) | segment 3 3 3 3
ENI revenue $ 182.4 $ 197.8 $ 539.7 $ 612.1
ENI operating expenses 86.4 89.2 229.4 260.0
Earnings before variable compensation 96.0 108.6 310.3 352.1
Variable compensation 44.5 44.1 137.7 145.8
ENI operating earnings (after variable comp) 51.5 64.5 172.6 206.3
Affiliate key employee distributions 11.0 12.6 31.8 39.8
Earnings after Affiliate key employee distributions 40.5 51.9 140.8 166.5
Net interest expense (6.9) (7.9) (21.6) (22.3)
Net investment income 6.0 7.0 17.3 25.2
Gain on sale of Affiliate 7.2   7.2  
Net income attributable to non-controlling interests in consolidated Funds 3.2 (7.6) (21.3) (9.6)
Income tax (expense) benefit (12.8) 32.0 (33.7) (3.7)
Economic net income 37.2 75.4 88.7 156.1
Reconciling Adjustments        
Segment Reporting Information [Line Items]        
ENI revenue 1.6 2.0 5.8 6.0
ENI operating expenses 12.6 5.5 0.4 4.8
Earnings before variable compensation (11.0) (3.5) 5.4 1.2
Variable compensation 3.3 0.0 17.4 4.6
ENI operating earnings (after variable comp) (14.3) (3.5) (12.0) (3.4)
Affiliate key employee distributions 0.0 0.0 0.0 0.0
Earnings after Affiliate key employee distributions (14.3) (3.5) (12.0) (3.4)
Net interest expense (1.6) (2.2) (5.1) (6.9)
Net investment income 6.0 7.0 17.3 25.2
Gain on sale of Affiliate 7.2   7.2  
Net income attributable to non-controlling interests in consolidated Funds 3.2 (7.6) (21.3) (9.6)
Income tax (expense) benefit (1.0) 44.3 (2.3) 33.2
Economic net income (0.5) 38.0 (16.2) 38.5
Quant & Solutions        
Segment Reporting Information [Line Items]        
ENI revenue 89.0 93.1 257.9 277.3
ENI operating expenses 37.2 40.8 109.3 120.4
Earnings before variable compensation 51.8 52.3 148.6 156.9
Variable compensation 18.0 18.8 52.7 57.6
ENI operating earnings (after variable comp) 33.8 33.5 95.9 99.3
Affiliate key employee distributions 0.8 1.5 2.9 4.1
Earnings after Affiliate key employee distributions 33.0 32.0 93.0 95.2
Net interest expense 0.0 0.0 0.0 0.0
Net investment income 0.0 0.0 0.0 0.0
Gain on sale of Affiliate 0.0   0.0  
Net income attributable to non-controlling interests in consolidated Funds 0.0 0.0 0.0 0.0
Income tax (expense) benefit 0.0 0.0 0.0 0.0
Economic net income 33.0 32.0 93.0 95.2
Alter-natives        
Segment Reporting Information [Line Items]        
ENI revenue 43.8 37.4 128.2 125.7
ENI operating expenses 15.3 16.1 47.6 49.4
Earnings before variable compensation 28.5 21.3 80.6 76.3
Variable compensation 10.1 7.8 29.0 28.0
ENI operating earnings (after variable comp) 18.4 13.5 51.6 48.3
Affiliate key employee distributions 7.3 5.0 20.0 17.1
Earnings after Affiliate key employee distributions 11.1 8.5 31.6 31.2
Net interest expense 0.0 0.0 0.0 0.0
Net investment income 0.0 0.0 0.0 0.0
Gain on sale of Affiliate 0.0   0.0  
Net income attributable to non-controlling interests in consolidated Funds 0.0 0.0 0.0 0.0
Income tax (expense) benefit 0.0 0.0 0.0 0.0
Economic net income 11.1 8.5 31.6 31.2
Liquid Alpha        
Segment Reporting Information [Line Items]        
ENI revenue 47.9 65.2 147.5 202.8
ENI operating expenses 15.5 18.5 52.7 60.0
Earnings before variable compensation 32.4 46.7 94.8 142.8
Variable compensation 12.3 15.6 36.0 48.1
ENI operating earnings (after variable comp) 20.1 31.1 58.8 94.7
Affiliate key employee distributions 2.9 6.1 8.9 18.6
Earnings after Affiliate key employee distributions 17.2 25.0 49.9 76.1
Net interest expense 0.0 0.0 0.0 0.0
Net investment income 0.0 0.0 0.0 0.0
Gain on sale of Affiliate 0.0   0.0  
Net income attributable to non-controlling interests in consolidated Funds 0.0 0.0 0.0 0.0
Income tax (expense) benefit 0.0 0.0 0.0 0.0
Economic net income 17.2 25.0 49.9 76.1
Other        
Segment Reporting Information [Line Items]        
ENI revenue 0.1 0.1 0.3 0.3
ENI operating expenses 5.8 8.3 19.4 25.4
Earnings before variable compensation (5.7) (8.2) (19.1) (25.1)
Variable compensation 0.8 1.9 2.6 7.5
ENI operating earnings (after variable comp) (6.5) (10.1) (21.7) (32.6)
Affiliate key employee distributions 0.0 0.0 0.0 0.0
Earnings after Affiliate key employee distributions (6.5) (10.1) (21.7) (32.6)
Net interest expense (5.3) (5.7) (16.5) (15.4)
Net investment income 0.0 0.0 0.0 0.0
Gain on sale of Affiliate 0.0   0.0  
Net income attributable to non-controlling interests in consolidated Funds 0.0 0.0 0.0 0.0
Income tax (expense) benefit (11.8) (12.3) (31.4) (36.9)
Economic net income $ (23.6) $ (28.1) $ (69.6) $ (84.9)