XML 60 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements Of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Operating revenues:        
Investment management fees $ 780.6 $ 819.1 $ 1,572.0 $ 1,611.4
Service and distribution fees 187.1 211.4 376.1 410.1
Performance fees 15.4 7.6 35.9 11.4
Other 25.9 31.9 58.7 64.4
Total operating revenues 1,009.0 1,070.0 2,042.7 2,097.3
Operating expenses:        
Employee compensation 304.6 318.3 623.1 624.2
Third-party distribution, service and advisory 316.6 341.8 633.7 666.3
Marketing 26.6 26.1 53.3 51.8
Property, office and technology 68.5 61.9 135.3 125.9
General and administrative 88.7 77.6 162.0 151.2
Transaction and integration 1.1 11.3 2.6 19.2
Total operating expenses 806.1 837.0 1,610.0 1,638.6
Operating income 202.9 233.0 432.7 458.7
Other income/(expense):        
Equity in earnings of unconsolidated affiliates 6.9 10.8 16.6 17.5
Interest and dividend income 2.2 2.4 4.6 4.5
Interest income of consolidated investment products 68.7 79.8 137.7 154.0
Other gains/(losses) of consolidated investment products, net 77.2 (64.7) (44.7) (150.2)
Interest expense (13.4) (16.0) (27.0) (32.2)
Interest expense of consolidated investment products (46.9) (46.5) (92.5) (86.5)
Other gains and losses, net (7.7) 6.0 10.9 13.9
Income before income taxes 289.9 204.8 438.3 379.7
Income tax provision (62.3) (75.4) (135.9) (151.0)
Net income 227.6 129.4 302.4 228.7
Net (income)/loss attributable to noncontrolling interests in consolidated entities, net (73.7) 53.6 45.4 131.8
Net income attributable to common shareholders $ 153.9 $ 183.0 $ 347.8 $ 360.5
Earnings per share:        
- basic $ 0.34 $ 0.39 $ 0.77 $ 0.77
- diluted $ 0.34 $ 0.39 $ 0.76 $ 0.77
Dividends declared per share $ 0.1725 $ 0.1225 $ 0.2950 $ 0.2325