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Consolidated Statements of Cash Flows
$ in Millions
12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Cash flows from operating activities:      
Net income $ 100.6 $ 896.4 $ 315.5
Less: Income from discontinued operations, net of tax 0.0 (77.3) (67.8)
Adjustments to reconcile net income to net cash flows from operating activities from continuing operations:      
Impairment of goodwill 0.0 0.0  
Gain on sale of discontinued operations 0.0 (691.0) 0.0
Loss on extinguishment of debt 3.2    
Gain on sale of subsidiaries   (48.6)  
Deferred income taxes 6.4 (5.0) 71.6
Adjustments to reconcile net income (loss) attributable to non-controlling interests of consolidated Funds to net cash flows from operating activities from continuing operations of consolidated Funds:      
Net cash flows from operating activities of continuing operations           116.8 (4.4) 95.4
Net cash flows from operating activities of discontinued operations           0.0 (7.1) (4.9)
Total net cash flows from operating activities 116.8 (11.5) 90.5
Cash flows from investing activities:      
Net cash flows from investing activities of continuing operations           (13.0) 1,036.0 275.9
Net cash flows from investing activities of discontinued operations           0.0 3.1 (5.9)
Total net cash flows from investing activities (13.0) 1,039.1 270.0
Cash flows from financing activities of consolidated Funds:      
Net cash flows from financing activities of continuing operations           (233.7) (1,152.4) (80.5)
Net cash flows from financing activities of discontinued operations               0.0 (27.2) 3.1
Total net cash flows from financing activities (233.7) (1,179.6) (77.4)
Effect of foreign exchange rate changes on cash and cash equivalents (1.0) 0.0 0.0
Net increase (decrease) in cash and cash equivalents (130.9) (152.0) 283.1
Cash and cash equivalents at beginning of period (including restricted cash) 252.1 372.9 82.1
Cash and cash equivalents at beginning of period classified within assets held for sale 0.0 31.2 38.9
Cash and cash equivalents at end of period 121.2 252.1 404.1
Less: cash and cash equivalents at end of period classified within assets held for sale 0.0 0.0 31.2
Cash and cash equivalents at end of period (including restricted cash) 121.2 252.1 372.9
Supplemental disclosure of cash flow information:      
Income taxes paid 36.8 205.0 33.4
Consolidated Entity Excluding Consolidated Funds      
Adjustments to reconcile net income to net cash flows from operating activities from continuing operations:      
Impairment of goodwill 0.0 0.0 16.4
Amortization of acquired intangibles 0.1 0.1 0.3
Gain on sale of discontinued operations 0.0 (691.0) 0.0
Loss on extinguishment of debt 3.2 0.0 0.0
Gain on sale of subsidiaries 0.0 (48.6) (241.3)
Depreciation and amortization 18.5 22.1 19.8
Amortization of debt-related costs 5.6 4.6 4.3
Amortization and revaluation of non-cash compensation awards (30.3) 39.1 (2.8)
Net earnings from Affiliate accounted for using the equity method 0.0 (2.6) (2.9)
Distributions received from equity method Affiliate 0.0 4.4 3.0
Distributions from discontinued operations 0.0 52.7 63.0
Deferred income taxes 6.4 (1.5) 73.2
(Gains) losses on other investments 3.4 (8.8) (8.6)
Changes in operating assets and liabilities (excluding discontinued operations):      
(Increase) decrease in investment advisory fees receivable 44.6 (87.9) 13.6
(Increase) decrease in other receivables, prepayments, deposits and other assets (2.1) 2.2 14.4
Increase (decrease) in accrued incentive compensation, operating lease liabilities and other liabilities (33.4) 44.7 (9.7)
Increase (decrease) in accounts payable, accrued expenses and accrued income taxes 2.4 (153.0) (19.4)
Adjustments to reconcile net income (loss) attributable to non-controlling interests of consolidated Funds to net cash flows from operating activities from continuing operations of consolidated Funds:      
Net cash flows from operating activities of continuing operations           119.0 (4.4) 170.6
Cash flows from investing activities:      
Additions of fixed assets (16.1) (15.1) (25.6)
Proceeds from sale of discontinued operations 0.0 949.3 0.0
Proceeds from sale of subsidiaries 0.0 61.6 295.2
Purchase of investment securities (5.5) (2.5) (17.8)
Sale of investment securities 8.6 42.7 109.8
Cash flows from financing activities:      
Proceeds from third party and non-recourse borrowings 214.0 176.0 80.0
Repayment of third party and non-recourse borrowings (339.0) (176.0) (255.0)
Payment of debt issuance costs (0.9) (0.4) 0.0
Proceeds from stock issuance 0.0 2.7 0.0
Payment to OM plc for co-investment redemptions (1.1) (1.5) (0.3)
Repurchases of common stock (103.2) (776.7) (46.0)
Repurchases of common stock from related parties 0.0 (345.0) 0.0
Dividends paid to shareholders (0.8) (1.9) (7.2)
Dividends paid to related parties (0.4) (1.0) (3.7)
Withholding tax payments related to stock option exercise (2.3) (28.6) 0.0
Supplemental disclosure of cash flow information:      
Interest paid (excluding consolidated Funds) 16.0 19.6 24.3
Consolidated Funds      
Cash flows from operating activities:      
Less: Income from discontinued operations, net of tax 0.0 (77.3) (67.8)
Less: Net (income) loss attributable to non-controlling interests in consolidated Funds from continuing operations 0.0 0.0 (0.4)
Adjustments to reconcile net income to net cash flows from operating activities from continuing operations:      
(Gains) losses on other investments 0.0 0.0 4.9
Adjustments to reconcile net income (loss) attributable to non-controlling interests of consolidated Funds to net cash flows from operating activities from continuing operations of consolidated Funds:      
Purchase of investments (0.2) 0.0 (146.3)
Sale of investments 0.1 0.0 91.3
(Increase) decrease in receivables and other assets (2.4) 0.0 (32.2)
Increase (decrease) in accounts payable and other liabilities 0.3 0.0 6.7
Net cash flows from operating activities of continuing operations           (2.2) 0.0 (75.2)
Cash flows from investing activities:      
Consolidation (de-consolidation) of Funds 0.0 0.0 (85.7)
Cash flows from financing activities of consolidated Funds:      
Redeemable non-controlling interest capital raised 0.0 0.0 152.8
Redeemable non-controlling interest capital redeemed 0.0 0.0 (1.1)
Supplemental disclosure of non-cash investing and financing transactions:      
Consolidation (de-consolidation) of Funds $ 0.0 $ 0.0 $ (236.0)