Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2023 | Oct. 30, 2023 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001274173 | |
Entity Registrant Name | JANUS HENDERSON GROUP PLC | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-38103 | |
Entity Incorporation, State or Country Code | Y9 | |
Entity Tax Identification Number | 98-1376360 | |
Entity Address, Address Line One | 201 Bishopsgate | |
Entity Address, City or Town | London | |
Entity Address, Country | GB | |
Entity Address, Postal Zip Code | EC2M3AE | |
City Area Code | 0 | |
Local Phone Number | 20 7818 1818 | |
Title of 12(b) Security | Common Stock, $1.50 Per Share Par Value | |
Trading Symbol | JHG | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 165,657,905 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 1,121.2 | $ 1,162.3 |
Investments | 293.1 | 261.6 |
Fees and other receivables | 232.8 | 252.9 |
OEIC and unit trust receivables | 137.5 | 65.7 |
Other current assets | 151.9 | 120.3 |
Total current assets | 2,288.1 | 2,214.8 |
Non-current assets: | ||
Property, equipment and software, net | 45.3 | 51.8 |
Intangible assets, net | 2,415.9 | 2,414.7 |
Goodwill | 1,259.8 | 1,253.1 |
Retirement benefit asset, net | 100.7 | 97.9 |
Other non-current assets | 189.9 | 205.5 |
Total assets | 6,299.7 | 6,237.8 |
Current liabilities: | ||
Accounts payable and accrued liabilities | 205 | 232.6 |
Current portion of accrued compensation, benefits and staff costs | 232.3 | 300.8 |
OEIC and unit trust payables | 144.1 | 72.8 |
Total current liabilities | 595.6 | 610.5 |
Non-current liabilities: | ||
Accrued compensation, benefits and staff costs | 35.9 | 46.9 |
Long-term debt | 305.3 | 307.5 |
Deferred tax liabilities, net | 568.7 | 574.6 |
Retirement benefit obligations, net | 2.9 | 3 |
Other non-current liabilities | 86.7 | 98.8 |
Total liabilities | 1,595.1 | 1,641.3 |
Commitments and contingencies (See Note 15) | ||
REDEEMABLE NONCONTROLLING INTERESTS | 245.9 | 233.9 |
EQUITY | ||
Common stock, $1.50 par value; 480,000,000 shares authorized, and 165,657,905 and 165,657,905 shares issued and outstanding as of September 30, 2023, and December 31, 2022, respectively | 248.5 | 248.5 |
Additional paid-in capital | 3,704.4 | 3,706.6 |
Treasury shares, 42,132 and 312,469 shares held at September 30, 2023, and December 31, 2022, respectively | (1.1) | (8.3) |
Accumulated other comprehensive loss, net of tax | (633.3) | (647.7) |
Retained earnings | 1,137.4 | 1,060.7 |
Total shareholders’ equity | 4,455.9 | 4,359.8 |
Nonredeemable noncontrolling interests | 2.8 | 2.8 |
Total equity | 4,458.7 | 4,362.6 |
Total liabilities, redeemable noncontrolling interests and equity | 6,299.7 | 6,237.8 |
Variable Interest Entity, Primary Beneficiary [Member] | ||
Current assets: | ||
Cash and cash equivalents | 19.1 | 14.1 |
Investments | 315.1 | 334.3 |
Other current assets | 17.4 | 3.6 |
Current liabilities: | ||
Accounts payable and accrued liabilities | $ 14.2 | $ 4.3 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2023 | Dec. 31, 2022 |
Common stock, par value (in dollars per share) | $ 1.50 | $ 1.50 |
Common stock, shares authorized (in shares) | 480,000,000 | 480,000,000 |
Common stock, shares issued (in shares) | 165,657,905 | 165,657,905 |
Common stock, shares outstanding (in shares) | 165,657,905 | 165,657,905 |
Treasury shares (in shares) | 42,132 | 312,469 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Total revenue | $ 521 | $ 512.9 | $ 1,533.3 | $ 1,688.4 |
Operating expenses: | ||||
Employee compensation and benefits | 149.2 | 142.5 | 437.2 | 452.1 |
Long-term incentive plans | 32.6 | 41.1 | 125.7 | 133.2 |
Distribution expenses | 116 | 118.7 | 342.6 | 388.3 |
Investment administration | 12.4 | 12.5 | 35.1 | 37.6 |
Marketing | 9.6 | 5.6 | 27.7 | 20.8 |
General, administrative and occupancy | 73.7 | 64.7 | 207 | 210.1 |
Depreciation and amortization | 5.8 | 7.1 | 18 | 24.3 |
Total operating expenses | 399.3 | 392.2 | 1,193.3 | 1,266.4 |
Operating income: | 121.7 | 120.7 | 340 | 422 |
Interest expense | (3.2) | (3.1) | (9.5) | (9.5) |
Investment gains (losses), net | (5.9) | 11 | 18.6 | (130.6) |
Other non-operating income (expense), net | (13.4) | 13.9 | 0.7 | 6.7 |
Income before taxes | 99.2 | 142.5 | 349.8 | 288.6 |
Income tax provision | (13.2) | (27.9) | (67.4) | (95.3) |
Net income | 86 | 114.6 | 282.4 | 193.3 |
Net loss (income) attributable to noncontrolling interests | 7.5 | (7) | (11.7) | 114.1 |
Net income attributable to JHG | $ 93.5 | $ 107.6 | $ 270.7 | $ 307.4 |
Earnings per share attributable to JHG common shareholders: | ||||
Basic (in dollars per share) | $ 0.56 | $ 0.65 | $ 1.64 | $ 1.84 |
Diluted (in dollars per share) | $ 0.56 | $ 0.65 | $ 1.64 | $ 1.84 |
Other comprehensive income (loss), net of tax: | ||||
Foreign currency translation gains (losses) | $ (70.7) | $ (139.2) | $ 14.3 | $ (364) |
Actuarial gains | 0.5 | 0.1 | 0.7 | 0.3 |
Other comprehensive income (loss), net of tax | (70.2) | (139.1) | 15 | (363.7) |
Other comprehensive loss (income) attributable to noncontrolling interests | 1 | (20.2) | (0.6) | 3.2 |
Other comprehensive income (loss) attributable to JHG | (69.2) | (159.3) | 14.4 | (360.5) |
Total comprehensive income (loss) | 15.8 | (24.5) | 297.4 | (170.4) |
Total comprehensive loss (income) attributable to noncontrolling interests | 8.5 | (27.2) | (12.3) | 117.3 |
Total comprehensive income (loss) attributable to JHG | 24.3 | (51.7) | 285.1 | (53.1) |
Investment Advice [Member] | ||||
Total revenue | 434.9 | 426.2 | 1,273 | 1,393.8 |
Investment Performance [Member] | ||||
Total revenue | (15.8) | (13.2) | (36.6) | (25) |
Shareholder Service [Member] | ||||
Total revenue | 54.9 | 54 | 159.7 | 172.7 |
Product and Service, Other [Member] | ||||
Total revenue | $ 47 | $ 45.9 | $ 137.2 | $ 146.9 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Operating activities: | ||
Net income | $ 282.4 | $ 193.3 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 18 | 24.3 |
Deferred income taxes | (5.2) | 9.2 |
Stock-based compensation plan expense | 59.8 | 68 |
Loss on sale of Intech | 0 | 9.1 |
Provision for credit losses and contingent consideration adjustments | 25.3 | 0 |
Investment losses (gains), net | (18.6) | 130.6 |
Contributions to pension plans in excess of costs recognized | (1.3) | 0.3 |
Other, net | (4) | (8.3) |
Changes in operating assets and liabilities: | ||
OEIC and unit trust receivables and payables | (0.5) | (1.8) |
Other assets | 49.6 | 114.7 |
Other accruals and liabilities | (125.4) | (212.1) |
Net operating activities | 280.1 | 327.3 |
Investing activities: | ||
Investments, net | (48.5) | 34.8 |
Property, equipment and software | (8.4) | (10.3) |
Investments by consolidated seeded investment products, net | (169.8) | 21.7 |
Cash received (paid) on settled seed capital hedges, net | (15.3) | 62.6 |
Dividends received from equity method investments | 0.7 | 0.5 |
Long-term note with Intech | (1) | (13.2) |
Proceeds from sale of Intech | 0 | 14.9 |
Receipt of contingent consideration payments from sale of subsidiaries | 0.2 | 0 |
Net investing activities | (242.1) | 111 |
Financing activities: | ||
Proceeds from stock-based compensation plans | 2.5 | 3.3 |
Purchase of common stock for stock-based compensation plans | (57.3) | (106.7) |
Purchase of common stock for share buyback program | 0 | (98.9) |
Dividends paid to shareholders | (194) | (194.5) |
Revolving credit facility issuance costs | (1.1) | 0 |
Distributions to noncontrolling interests | 0 | (1) |
Third-party sales (purchases) in consolidated seeded investment products, net | 174.5 | (16.2) |
Principal payments under capital lease obligations | (0.4) | (1.2) |
Net financing activities | (75.8) | (415.2) |
Cash and cash equivalents: | ||
Effect of foreign exchange rate changes | 1.7 | (106) |
Net change | (36.1) | (82.9) |
At beginning of period | 1,176.4 | 1,118.6 |
At end of period | 1,140.3 | 1,035.7 |
Supplemental cash flow information: | ||
Cash paid for interest | 14.6 | 14.6 |
Cash paid for income taxes, net of refunds | 79.1 | 122.1 |
Reconciliation of cash and cash equivalents: | ||
Total cash and cash equivalents | 1,140.3 | 1,035.7 |
Consolidated Entity, Excluding VIE [Member] | ||
Reconciliation of cash and cash equivalents: | ||
Total cash and cash equivalents | 1,121.2 | 1,022.9 |
Variable Interest Entity, Primary Beneficiary [Member] | ||
Reconciliation of cash and cash equivalents: | ||
Total cash and cash equivalents | $ 19.1 | $ 12.8 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes In Equity (Unaudited) - USD ($) shares in Millions, $ in Millions | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock, Common [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Noncontrolling Interest [Member] | Total |
Balance (in shares) at Dec. 31, 2021 | 169 | ||||||
Balance at Dec. 31, 2021 | $ 253.6 | $ 3,771.8 | $ (55.1) | $ (387) | $ 1,040.2 | $ 15.4 | $ 4,638.9 |
Net income | 0 | 0 | 0 | 0 | 307.4 | 0 | 307.4 |
Other comprehensive loss | 0 | 0 | 0 | (360.5) | 0 | 0 | (360.5) |
Dividends paid to shareholders | 0 | 0 | 0 | (194.6) | 0 | (194.5) | |
Dividends paid to shareholders | 0 | 0 | 0 | (194.6) | 0 | (194.5) | |
Purchase of common stock for stock-based compensation plans | 0 | (105.8) | (0.9) | 0 | 0 | 0 | (106.7) |
Vesting of stock-based compensation plans | 0 | (52.6) | 52.6 | 0 | 0 | 0 | 0 |
Stock-based compensation plan expense | 0 | 68 | 0 | 0 | 0 | 0 | 68 |
Proceeds from stock-based compensation plans | 0 | 3.3 | 0 | 0 | 0 | 0 | 3.3 |
Other comprehensive income (loss) | $ 0 | 0 | 0 | (360.5) | 0 | 0 | (360.5) |
Dividends paid to shareholders | 0.1 | ||||||
Dividends paid to shareholders | 0.1 | ||||||
Purchase of common stock from share buyback program (in shares) | (3.3) | ||||||
Purchase of common stock from share buyback program | $ (5.1) | 0 | 0 | 0 | (93.8) | 0 | (98.9) |
Distributions to noncontrolling interests | 0 | 0 | 0 | 0 | 0 | (1) | (1) |
Sale of Intech | 0 | 0 | 0 | 0 | 0 | (11.6) | (11.6) |
Fair value adjustments to redeemable noncontrolling interests | $ 0 | 0 | 0 | 0 | 1.4 | 0 | 1.4 |
Balance (in shares) at Sep. 30, 2022 | 165.7 | ||||||
Balance at Sep. 30, 2022 | $ 248.5 | 3,684.8 | (3.4) | (747.5) | 1,060.6 | 2.8 | 4,245.8 |
Balance (in shares) at Jun. 30, 2022 | 165.7 | ||||||
Balance at Jun. 30, 2022 | $ 248.5 | 3,673.6 | (5.9) | (588.2) | 1,017.8 | 2.8 | 4,348.6 |
Net income | 0 | 0 | 0 | 0 | 107.6 | 0 | 107.6 |
Other comprehensive loss | 0 | 0 | 0 | (159.3) | 0 | 0 | (159.3) |
Dividends paid to shareholders | 0 | 0 | 0 | (64.8) | 0 | (64.7) | |
Dividends paid to shareholders | 0 | 0 | 0 | (64.8) | 0 | (64.7) | |
Purchase of common stock for stock-based compensation plans | 0 | (9.4) | (0.3) | 0 | 0 | 0 | (9.7) |
Vesting of stock-based compensation plans | 0 | (2.8) | 2.8 | 0 | 0 | 0 | 0 |
Stock-based compensation plan expense | 0 | 22.2 | 0 | 0 | 0 | 0 | 22.2 |
Proceeds from stock-based compensation plans | 0 | 1.1 | 0 | 0 | 0 | 0 | 1.1 |
Other comprehensive income (loss) | $ 0 | 0 | 0 | (159.3) | 0 | 0 | (159.3) |
Dividends paid to shareholders | 0.1 | ||||||
Dividends paid to shareholders | 0.1 | ||||||
Balance (in shares) at Sep. 30, 2022 | 165.7 | ||||||
Balance at Sep. 30, 2022 | $ 248.5 | 3,684.8 | (3.4) | (747.5) | 1,060.6 | 2.8 | 4,245.8 |
Balance (in shares) at Dec. 31, 2022 | 165.7 | ||||||
Balance at Dec. 31, 2022 | $ 248.5 | 3,706.6 | (8.3) | (647.7) | 1,060.7 | 2.8 | 4,362.6 |
Net income | 0 | 0 | 0 | 0 | 270.7 | 0 | 270.7 |
Other comprehensive loss | 0 | 0 | 0 | 14.4 | 0 | 0 | 14.4 |
Dividends paid to shareholders | 0 | 0 | 0 | (194) | 0 | (194) | |
Dividends paid to shareholders | 0 | 0 | 0 | (194) | 0 | (194) | |
Purchase of common stock for stock-based compensation plans | 0 | (56.5) | (0.8) | 0 | 0 | 0 | (57.3) |
Vesting of stock-based compensation plans | 0 | (8) | 8 | 0 | 0 | 0 | 0 |
Stock-based compensation plan expense | 0 | 59.8 | 0 | 0 | 0 | 0 | 59.8 |
Proceeds from stock-based compensation plans | 0 | 2.5 | 0 | 0 | 0 | 0 | 2.5 |
Other comprehensive income (loss) | $ 0 | 0 | 0 | 14.4 | 0 | 0 | 14.4 |
Dividends paid to shareholders | 0 | ||||||
Dividends paid to shareholders | 0 | ||||||
Balance (in shares) at Sep. 30, 2023 | 165.7 | ||||||
Balance at Sep. 30, 2023 | $ 248.5 | 3,704.4 | (1.1) | (633.3) | 1,137.4 | 2.8 | 4,458.7 |
Balance (in shares) at Jun. 30, 2023 | 165.7 | ||||||
Balance at Jun. 30, 2023 | $ 248.5 | 3,687.1 | (1.1) | (564.1) | 1,108.6 | 2.8 | 4,481.8 |
Net income | 0 | 0 | 0 | 0 | 93.5 | 0 | 93.5 |
Other comprehensive loss | 0 | 0 | 0 | (69.2) | 0 | 0 | (69.2) |
Dividends paid to shareholders | 0 | 0 | 0 | 0 | (64.7) | 0 | (64.7) |
Dividends paid to shareholders | 0 | 0 | 0 | 0 | (64.7) | 0 | (64.7) |
Purchase of common stock for stock-based compensation plans | 0 | (0.3) | 0 | 0 | 0 | ||
Purchase of common stock for stock-based compensation plans | 0.5 | 0.2 | |||||
Vesting of stock-based compensation plans | 0 | (0.3) | 0.3 | 0 | 0 | 0 | 0 |
Stock-based compensation plan expense | 0 | 16.9 | 0 | 0 | 0 | 0 | 16.9 |
Proceeds from stock-based compensation plans | 0 | 0.2 | 0 | 0 | 0 | 0 | 0.2 |
Other comprehensive income (loss) | $ 0 | 0 | 0 | (69.2) | 0 | 0 | (69.2) |
Balance (in shares) at Sep. 30, 2023 | 165.7 | ||||||
Balance at Sep. 30, 2023 | $ 248.5 | $ 3,704.4 | $ (1.1) | $ (633.3) | $ 1,137.4 | $ 2.8 | $ 4,458.7 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Changes In Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Dividends paid (in dollars per share) | $ 0.39 | $ 0.39 | $ 1.17 | $ 1.16 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Note 1 Basis of Presentation Basis of Presentation In the opinion of management of Janus Henderson Group plc (“JHG,” “the Company,” “we,” “us,” “our” and similar terms), the accompanying unaudited condensed consolidated financial statements contain all normal recurring adjustments necessary to fairly state our financial position, results of operations and cash flows in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Such financial statements have been prepared in accordance with the instructions to Form 10 not 10 December 31, 2022 |
Note 2 - Dispositions
Note 2 - Dispositions | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | Note 2 Dispositions On February 3, 2022, March 31, 2022, seventh The terms of the transaction also included a $20.0 million seven first second September 30, 2023 second not September 30, 2023 first second As of September 30, 2023, nil. |
Note 3 - Consolidation
Note 3 - Consolidation | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Variable Interest Entities Voting Rights Entities Consolidation Disclosure [Text Block] | Note 3 Consolidation Variable Interest Entities Consolidated Variable Interest Entities Our consolidated variable interest entities (“VIEs”) as of September 30, 2023 December 31, 2022 not may not, third no Unconsolidated Variable Interest Entities The following table presents the carrying value of investment securities included in our Condensed Consolidated Balance Sheets pertaining to unconsolidated VIEs (in millions): September 30, December 31, 2023 2022 Unconsolidated VIEs $ 15.3 $ 1.5 Our total exposure to unconsolidated VIEs represents the value of our economic ownership interest in the investments. Voting Rights Entities Consolidated Voting Rights Entities The following table presents the balances related to consolidated voting rights entities (“VREs”) that were recorded in our Condensed Consolidated Balance Sheets, including our net interest in these products (in millions): September 30, December 31, 2023 2022 Investments $ 209.1 $ 206.0 Cash and cash equivalents 5.5 5.8 Other current assets 22.0 1.8 Accounts payable and accrued liabilities (2.9 ) (1.0 ) Total $ 233.7 $ 212.6 Redeemable noncontrolling interests in consolidated VREs (81.0 ) (35.1 ) JHG's net interest in consolidated VREs $ 152.7 $ 177.5 Third-party assets held in consolidated VREs are not may not, third no Our total exposure to consolidated VREs represents the value of our economic ownership interest in these seeded investment products. Unconsolidated Voting Rights Entities The following table presents the carrying value of investment securities included in our Condensed Consolidated Balance Sheets pertaining to unconsolidated VREs (in millions): September 30, December 31, 2023 2022 Unconsolidated VREs $ 9.2 $ 3.4 Our total exposure to unconsolidated VREs represents the value of our economic ownership interest in the investments. |
Note 4 - Investments
Note 4 - Investments | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Investment [Text Block] | Note 4 Investments Our investments as of September 30, 2023 December 31, 2022 September 30, December 31, 2023 2022 Current investments: Seeded investment products: Consolidated VIEs $ 315.1 $ 334.3 Consolidated VREs 209.1 206.0 Unconsolidated VIEs and VREs 24.5 4.9 Separately managed accounts 40.0 29.7 Total seeded investment products 588.7 574.9 Investments related to deferred compensation plans 11.1 10.7 Other investments 8.4 10.3 Total current investments $ 608.2 $ 595.9 Non-current investments: Equity method investments 30.7 18.7 Total investments $ 638.9 $ 614.6 Net unrealized gains (losses) on investments held as of September 30, 2023 and 2022, gross of noncontrolling interests, for the three and nine months ended September 30, 2023 and 2022, are summarized as follows (in millions): Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Unrealized gains (losses) on investments held at period end $ (6.5 ) $ 10.0 $ 1.1 $ (44.6 ) Investment Gains (Losses), Net Investment gains (losses), net in our Condensed Consolidated Statements of Comprehensive Income included the following for the three nine September 30, 2023 2022 Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Seeded investment products and hedges, net $ 2.5 $ 3.3 $ 17.5 $ (14.9 ) Third-party ownership interests in seeded investment products (7.5 ) 7.0 11.7 (114.1 ) Equity method investments (0.8 ) 0.2 (12.3 ) 1.9 Other (0.1 ) 0.5 1.7 (3.5 ) Investment gains (losses), net $ (5.9 ) $ 11.0 $ 18.6 $ (130.6 ) Investment gains (losses), net for the nine September 30, 2023, Gains and losses attributable to third not Equity Method Investments On June 1, 2023, Cash Flows Cash flows related to our investments for the nine September 30, 2023 2022 Nine months ended September 30, 2023 2022 Purchases Sales, Purchases Sales, and settlements and Net and settlements and Net settlements maturities cash flow settlements maturities cash flow Investments by consolidated seeded investment products $ (179.9 ) $ 10.1 $ (169.8 ) $ (18.8 ) $ 40.5 $ 21.7 Investments (150.1 ) 101.6 (48.5 ) (109.6 ) 144.4 34.8 |
Note 5 - Derivative Instruments
Note 5 - Derivative Instruments | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 5 Derivative Instruments Derivative Instruments Used to Hedge Seeded Investment Products We maintain an economic hedge program that uses derivative instruments to mitigate against market exposure of certain seeded investments by using index and commodity futures (“futures”), total return swaps and credit default swaps. Certain foreign currency exposures associated with our seeded investment products are also hedged by using foreign currency forward contracts and swaps. We were party to the following derivative instruments as of September 30, 2023 December 31, 2022 Notional value September 30, 2023 December 31, 2022 Futures $ 1,095.7 $ 196.8 Credit default swaps 106.7 115.1 Total return swaps 40.9 37.2 Foreign currency forward contracts and swaps 173.8 131.7 The derivative instruments are not three nine September 30, 2023 2022 Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Futures $ 9.1 $ 8.7 $ 6.0 $ 45.7 Credit default swaps 0.8 0.2 (1.7 ) 5.8 Total return swaps 5.2 3.1 (6.5 ) 39.3 Foreign currency forward contracts and swaps (2.5 ) (3.8 ) 6.3 (13.3 ) Total gains (losses) from derivative instruments $ 12.6 $ 8.2 $ 4.1 $ 77.5 Derivative assets and liabilities are generally recognized on a gross basis and included in other current assets or in accounts payable and accrued liabilities in our Condensed Consolidated Balance Sheets. The derivative assets and liabilities as of September 30, 2023 December 31, 2022 Fair value September 30, 2023 December 31, 2022 Derivative assets $ 10.6 $ 5.3 Derivative liabilities 5.4 4.0 In addition to using derivative instruments to mitigate against market exposure of certain seeded investments, we also engage in short sales of securities to hedge seed investments. As of September 30, 2023 December 31, 2022 not Derivative Instruments Used in Consolidated Seeded Investment Products Certain of our consolidated seeded investment products use derivative instruments to contribute to the achievement of defined investment objectives. These derivative instruments are classified within other current assets or in accounts payable and accrued liabilities in our Condensed Consolidated Balance Sheets. Gains and losses on these derivative instruments are classified within investment gains (losses), net in our Condensed Consolidated Statements of Comprehensive Income. Our consolidated seeded investment products were party to the following derivative instruments as of September 30, 2023 December 31, 2022 Notional value September 30, 2023 December 31, 2022 Futures $ 1,751.3 $ 141.3 Credit default swaps 11.0 2.2 Total return swaps 0.2 10.4 Interest rate swaps 2.1 — Options — 0.1 Foreign currency forward contracts and swaps 9.7 18.3 As of September 30, 2023 December 31, 2022 Derivative Instruments Foreign Currency Hedging Program We maintain a foreign currency hedging program to take reasonable measures to minimize the income statement effects of foreign currency remeasurement of monetary balance sheet accounts. The program uses foreign currency forward contracts and swaps to achieve its objectives, and it is considered an economic hedge for accounting purposes. The notional value of the foreign currency forward contracts and swaps as of September 30, 2023 December 31, 2022 Notional value September 30, 2023 December 31, 2022 Foreign currency forward contracts and swaps $ 89.1 $ 74.7 The derivative assets and liabilities are generally recognized on a gross basis and included in other current assets or in accounts payable and accrued liabilities in our Condensed Consolidated Balance Sheets. As of September 30, 2023 December 31, 2022 Changes in fair value of the derivatives are recognized in other non-operating income (expense), net in our Condensed Consolidated Statements of Comprehensive Income. Foreign currency remeasurement is also recognized in other non-operating income (expense), net in our Condensed Consolidated Statements of Comprehensive Income. For the three nine September 30, 2023 2022 |
Note 6 - Fair Value Measurement
Note 6 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 6 Fair Value Measurements The following table presents assets and liabilities reflected in the financial statements or disclosed in the notes to the financial statements at fair value on a recurring basis as of September 30, 2023 Fair value measurements using: Quoted prices in Significant active markets for other Significant identical assets observable unobservable and liabilities inputs inputs (Level 1) (Level 2) (Level 3) Total Assets: Cash equivalents $ 825.2 $ — $ — $ 825.2 Investments: Consolidated VIEs 144.1 170.9 0.1 315.1 Other investments 227.4 65.6 0.1 293.1 Total investments 371.5 236.5 0.2 608.2 Seed hedge derivatives — 10.6 — 10.6 Derivatives used in consolidated seeded investment products — 1.2 — 1.2 Derivatives used in foreign currency hedging program — 0.6 — 0.6 Total assets $ 1,196.7 $ 248.9 $ 0.2 $ 1,445.8 Liabilities: Derivatives used in consolidated seeded investment products $ — $ 2.0 $ — $ 2.0 Derivatives used in foreign currency hedging program — 0.8 — 0.8 Securities sold, not yet purchased 1.5 — — 1.5 Seed hedge derivatives — 5.4 — 5.4 Long-term debt (1) — 293.7 — 293.7 Deferred bonuses — — 92.1 92.1 Total liabilities $ 1.5 $ 301.9 $ 92.1 $ 395.5 ( 1 Carried at amortized cost and disclosed at fair value. The following table presents assets and liabilities reflected in the financial statements or disclosed in the notes to the financial statements at fair value on a recurring basis as of December 31, 2022 Fair value measurements using: Quoted prices in Significant active markets for other Significant identical assets observable unobservable and liabilities inputs inputs (Level 1) (Level 2) (Level 3) Total Assets: Cash equivalents $ 688.4 $ — $ — $ 688.4 Investments: Consolidated VIEs 275.4 54.0 4.9 334.3 Other investments 171.9 89.4 0.3 261.6 Total investments 447.3 143.4 5.2 595.9 Seed hedge derivatives — 5.3 — 5.3 Derivatives used in consolidated seeded investment products — 0.1 — 0.1 Derivatives used in foreign currency hedging program — 0.4 — 0.4 Option agreement — — 0.8 0.8 Contingent consideration from sale of subsidiaries — — 12.3 12.3 Total assets $ 1,135.7 $ 149.2 $ 18.3 $ 1,303.2 Liabilities: Derivatives used in consolidated seeded investment products $ — $ 0.6 $ — $ 0.6 Derivatives used in foreign currency hedging program — 1.1 — 1.1 Securities sold, not yet purchased 0.5 — — 0.5 Seed hedge derivatives — 4.0 — 4.0 Long-term debt (1) — 295.4 — 295.4 Deferred bonuses — — 46.5 46.5 Total liabilities $ 0.5 $ 301.1 $ 46.5 $ 348.1 ( 1 Carried at amortized cost and disclosed at fair value. Level 1 Our Level 1 not Level 2 Our Level 2 2 Level 3 Investments As of September 30, 2023 December 31, 2022 3 Deferred Bonuses Deferred bonuses represent liabilities to employees over the vesting period that will be settled by investments in our products or cash. Upon vesting, employees receive the value of the investment product selected by the participant, adjusted for gains or losses attributable to the product. The significant unobservable inputs used to value the liabilities are investment designations and vesting periods. Changes in Fair Value Changes in fair value of our Level 3 three nine September 30, 2023 2022 Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Beginning of period fair value $ 16.6 $ 21.1 $ 18.3 $ 8.8 Option agreement — (1.8 ) — 1.3 Contingent consideration from sale of subsidiaries — (0.2 ) — 12.1 Settlement of contingent consideration — — (0.2 ) — Fair value adjustments (11.7 ) — (13.1 ) (1.8 ) Transfers from Level 1 — — 0.2 0.5 Transfers to Level 1 (4.8 ) — (4.8 ) (2.1 ) Purchases of securities — (0.1 ) — 0.9 Sales of securities 0.1 — (0.2 ) (0.3 ) Foreign currency translation — (0.2 ) — (0.6 ) End of period fair value $ 0.2 $ 18.8 $ 0.2 $ 18.8 Changes in fair value of our Level 3 three nine September 30, 2023 2022 Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Beginning of period fair value $ 78.2 $ 27.6 $ 46.5 $ 50.5 Fair value adjustments (0.7 ) (1.2 ) 1.9 (3.8 ) Vesting of deferred bonuses (0.2 ) (0.5 ) (34.5) (36.5 ) Amortization of deferred bonuses 15.9 9.6 41.8 28.8 Foreign currency translation (1.1 ) (2.6 ) 0.6 (6.1 ) Additions — — 35.8 — End of period fair value $ 92.1 $ 32.9 $ 92.1 $ 32.9 Nonrecurring Fair Value Measurements Nonrecurring Level 3 3. |
Note 7 - Goodwill and Intangibl
Note 7 - Goodwill and Intangible Assets | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 7 Goodwill and Intangible Assets The following tables present movements in our intangible assets and goodwill during the nine September 30, 2023 2022 Foreign December 31, currency September 30, 2022 Amortization Disposal translation 2023 Indefinite-lived intangible assets: Investment management agreements $ 2,046.5 $ — $ — $ 3.1 $ 2,049.6 Trademarks 360.0 — — — 360.0 Definite-lived intangible assets: Client relationships 68.9 — — (0.7 ) 68.2 Accumulated amortization (60.7 ) (1.5 ) — 0.3 (61.9 ) Net intangible assets $ 2,414.7 $ (1.5 ) $ — $ 2.7 $ 2,415.9 Goodwill $ 1,253.1 $ — $ — $ 6.7 $ 1,259.8 Foreign December 31, currency September 30, 2021 Amortization Disposal translation 2022 Indefinite-lived intangible assets: Investment management agreements $ 2,114.8 $ — $ — $ (67.1 ) $ 2,047.7 Trademarks 366.7 — (4.7 ) — 362.0 Definite-lived intangible assets: Client relationships 168.4 — (84.8 ) (11.0 ) 72.6 Accumulated amortization (107.2 ) (3.2 ) 44.7 8.9 (56.8 ) Net intangible assets $ 2,542.7 $ (3.2 ) $ (44.8 ) $ (69.2 ) $ 2,425.5 Goodwill $ 1,341.5 $ — $ (7.0 ) $ (128.5 ) $ 1,206.0 Management Buyout of Intech As detailed in Note 2 March 31, 2022, Future Amortization Expected future amortization expense related to client relationships is summarized below (in millions): Future amortization Amount 2023 (remainder of year) $ 0.2 2024 0.4 2025 0.4 2026 0.4 2027 0.4 Thereafter 4.5 Total $ 6.3 |
Note 8 - Debt
Note 8 - Debt | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 8 Debt Our debt as of September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022 Carrying Fair Carrying Fair value value value value 4.875% Senior Notes due 2025 $ 305.3 $ 293.7 $ 307.5 $ 295.4 4.875% 2025 The 4.875% Senior Notes due 2025 “2025 February 1 August 1 August 1, 2025. 2025 September 30, 2023 2025 Credit Facility On June 30, 2023, June 30, 2028, two one first second may 3.00x September 30, 2023 |
Note 9 - Income Taxes
Note 9 - Income Taxes | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 9 Income Taxes Our effective tax rates for the three nine September 30, 2023 2022 Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Effective tax rate 13.2 % 19.6 % 19.3 % 33.0 % The effective tax rates for the three nine September 30, 2023 2022, nine September 30, 2023 As of September 30, 2023 12 |
Note 10 - Noncontrolling Intere
Note 10 - Noncontrolling Interests | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Noncontrolling Interest Disclosure [Text Block] | Note 10 Noncontrolling Interests Redeemable Noncontrolling Interests Redeemable noncontrolling interests as of September 30, 2023 December 31, 2022 September 30, December 31, 2023 2022 Consolidated seeded investment products $ 245.9 $ 233.9 Consolidated Seeded Investment Products Noncontrolling interests in consolidated seeded investment products are classified as redeemable noncontrolling interests when there is an obligation to repurchase units at the investor’s request. Redeemable noncontrolling interests in consolidated seeded investment products may third The following table presents the movement in redeemable noncontrolling interests in consolidated seeded investment products for the three nine September 30, 2023 2022 Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Opening balance $ 389.8 $ 921.1 $ 233.9 $ 148.5 Changes in market value (7.5 ) 7.0 11.7 (114.1 ) Changes in ownership (135.4 ) (795.3 ) 0.8 121.9 Foreign currency translation (1.0 ) 20.3 (0.5 ) (3.2 ) Closing balance $ 245.9 $ 153.1 $ 245.9 $ 153.1 |
Note 11 - Long-Term Incentive a
Note 11 - Long-Term Incentive and Employee Compensation | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | Note 11 Long-Term Incentive and Employee Compensation The following table presents restricted stock and mutual fund awards granted during the three nine September 30, 2023 Three months ended Nine months ended September 30, September 30, 2023 2023 Restricted stock $ 3.7 $ 66.1 Mutual fund awards 0.1 54.1 Total $ 3.8 $ 120.2 Restricted stock and mutual fund awards generally vest and will be recognized using a graded vesting method over a three |
Note 12 - Retirement Benefit Pl
Note 12 - Retirement Benefit Plans | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | Note 12 Retirement Benefit Plans We operate defined contribution retirement benefit plans and defined benefit pension plans. Our primary defined benefit pension plan is the defined benefit section of the Janus Henderson Group UK Pension Scheme (“JHGPS”). Net Periodic Benefit Cost The components of net periodic benefit cost in respect of defined benefit plans for the three nine September 30, 2023 2022 Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Interest cost $ (7.0 ) $ (3.9 ) $ (20.7 ) $ (12.5 ) Amortization of prior service cost (0.1 ) (0.1 ) (0.3 ) (0.3 ) Amortization of net loss (0.4 ) — (0.4 ) — Expected return on plan assets 6.9 3.3 20.3 10.5 Net periodic benefit cost $ (0.6 ) $ (0.7 ) $ (1.1 ) $ (2.3 ) |
Note 13 - Accumulated Other Com
Note 13 - Accumulated Other Comprehensive Loss | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 13 Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss, net of tax for the three nine September 30, 2023 2022 Three months ended September 30, 2023 2022 Retirement Retirement Foreign benefit Foreign benefit currency asset, net Total currency asset, net Total Beginning balance $ (493.9 ) $ (70.2 ) $ (564.1 ) $ (555.6 ) $ (32.6 ) $ (588.2 ) Other comprehensive loss (67.9 ) — (67.9 ) (129.4 ) — (129.4 ) Reclassifications to net income (2.8 ) 0.5 (2.3 ) (9.8 ) 0.1 (9.7 ) Total other comprehensive income (loss) (70.7 ) 0.5 (70.2 ) (139.2 ) 0.1 (139.1 ) Less: other comprehensive loss (income) attributable to noncontrolling interests 1.0 — 1.0 (20.2 ) — (20.2 ) Ending balance $ (563.6 ) $ (69.7 ) $ (633.3 ) $ (715.0 ) $ (32.5 ) $ (747.5 ) Nine months ended September 30, 2023 2022 Retirement Retirement Foreign benefit Foreign benefit currency asset, net Total currency asset, net Total Beginning balance $ (577.3 ) $ (70.4 ) $ (647.7 ) $ (354.2 ) $ (32.8 ) $ (387.0 ) Other comprehensive income (loss) 15.0 — 15.0 (359.9 ) — (359.9 ) Reclassifications to net income (0.7 ) 0.7 — (4.1 ) 0.3 (3.8 ) Total other comprehensive income (loss) 14.3 0.7 15.0 (364.0 ) 0.3 (363.7 ) Less: other comprehensive loss (income) attributable to noncontrolling interests (0.6 ) — (0.6 ) 3.2 — 3.2 Ending balance $ (563.6 ) $ (69.7 ) $ (633.3 ) $ (715.0 ) $ (32.5 ) $ (747.5 ) The components of other comprehensive income (loss), net of tax for the three nine September 30, 2023 2022 Three months ended September 30, 2023 2022 Pre-tax Tax Net Pre-tax Tax Net amount impact amount amount impact amount Foreign currency translation adjustments $ (68.8 ) $ 0.9 $ (67.9 ) $ (130.8 ) $ 1.4 $ (129.4 ) Reclassifications to net income (2.3 ) — (2.3 ) (9.7 ) — (9.7 ) Total other comprehensive income (loss) $ (71.1 ) $ 0.9 $ (70.2 ) $ (140.5 ) $ 1.4 $ (139.1 ) Nine months ended September 30, 2023 2022 Pre-tax Tax Net Pre-tax Tax Net amount impact amount amount impact amount Foreign currency translation adjustments $ 11.5 $ 3.5 $ 15.0 $ (364.5 ) $ 4.6 $ (359.9 ) Reclassifications to net income — — — (3.8 ) — (3.8 ) Total other comprehensive income (loss) $ 11.5 $ 3.5 $ 15.0 $ (368.3 ) $ 4.6 $ (363.7 ) |
Note 14 - Earnings and Dividend
Note 14 - Earnings and Dividends Per Share | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Earnings and Dividends Per Share [Text Block] | Note 14 Earnings and Dividends Per Share Earnings Per Share The following is a summary of the earnings per share calculation for the three nine September 30, 2023 2022 Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Net income attributable to JHG $ 93.5 $ 107.6 $ 270.7 $ 307.4 Allocation of earnings to participating stock-based awards (2.8 ) (3.5 ) (7.8 ) (9.0 ) Net income attributable to JHG common shareholders $ 90.7 $ 104.1 $ 262.9 $ 298.4 Weighted-average common shares outstanding — basic 160.8 160.5 160.5 162.2 Dilutive effect of nonparticipating stock-based awards 0.1 0.4 0.2 0.4 Weighted-average common shares outstanding — diluted 160.9 160.9 160.7 162.6 Earnings per share: Basic $ 0.56 $ 0.65 $ 1.64 $ 1.84 Diluted $ 0.56 $ 0.65 $ 1.64 $ 1.84 Dividends Per Share The payment of cash dividends is within the discretion of our Board of Directors and depends on many factors, including, but not The following is a summary of cash dividends declared and paid during the nine September 30, 2023 Dividend Date Dividends paid Date per share declared (in US$ millions) paid $ 0.39 February 1, 2023 $ 64.7 February 28, 2023 $ 0.39 May 2, 2023 $ 64.6 May 31, 2023 $ 0.39 August 1, 2023 $ 64.7 August 30, 2023 On October 31, 2023 third 2023 November 30, 2023 November 13, 2023 |
Note 15 - Commitments and Conti
Note 15 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 15 Commitments and Contingencies Commitments and contingencies may Litigation and Other Regulatory Matters We are periodically involved in various legal proceedings and other regulatory matters. Sandra Schissler v Janus Henderson US (Holdings) Inc., Janus Henderson Advisory Committee, and John and Jane Does 1 30 On September 9, 2022, Schissler v. Janus Henderson US (Holdings) Inc., et al. 401 September 9, 2016. January 10, 2023, November 23, 2022, two September 9, 2016, September 9, 2022, February 9, 2023, March 13, 2023, March 28, 2023. September 7, 2023, September 21, 2023, October 12, 2023. |
Item 5 - Other Information
Item 5 - Other Information | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Issuer Rule 10b5-1, Material Terms [Text Block] | 5. Other Information Trading Plans of Directors and Officers During the quarter ended September 30, 2023 no 16 10b5–1 10b5–1 408 |
Note 3 - Consolidation (Tables)
Note 3 - Consolidation (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Variable Interest Entities [Table Text Block] | September 30, December 31, 2023 2022 Unconsolidated VIEs $ 15.3 $ 1.5 |
Consolidated Voting Right Entities VRE [Table Text Block] | September 30, December 31, 2023 2022 Investments $ 209.1 $ 206.0 Cash and cash equivalents 5.5 5.8 Other current assets 22.0 1.8 Accounts payable and accrued liabilities (2.9 ) (1.0 ) Total $ 233.7 $ 212.6 Redeemable noncontrolling interests in consolidated VREs (81.0 ) (35.1 ) JHG's net interest in consolidated VREs $ 152.7 $ 177.5 |
Unconsolidated Voting Right Entities VRE [Table Text Block] | September 30, December 31, 2023 2022 Unconsolidated VREs $ 9.2 $ 3.4 |
Note 4 - Investments (Tables)
Note 4 - Investments (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Investment [Table Text Block] | September 30, December 31, 2023 2022 Current investments: Seeded investment products: Consolidated VIEs $ 315.1 $ 334.3 Consolidated VREs 209.1 206.0 Unconsolidated VIEs and VREs 24.5 4.9 Separately managed accounts 40.0 29.7 Total seeded investment products 588.7 574.9 Investments related to deferred compensation plans 11.1 10.7 Other investments 8.4 10.3 Total current investments $ 608.2 $ 595.9 Non-current investments: Equity method investments 30.7 18.7 Total investments $ 638.9 $ 614.6 Net unrealized gains (losses) on investments held as of September 30, 2023 and 2022, gross of noncontrolling interests, for the three and nine months ended September 30, 2023 and 2022, are summarized as follows (in millions): |
Unrealized Gain (Loss) on Investments [Table Text Block] | Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Unrealized gains (losses) on investments held at period end $ (6.5 ) $ 10.0 $ 1.1 $ (44.6 ) |
Gain (Loss) on Securities [Table Text Block] | Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Seeded investment products and hedges, net $ 2.5 $ 3.3 $ 17.5 $ (14.9 ) Third-party ownership interests in seeded investment products (7.5 ) 7.0 11.7 (114.1 ) Equity method investments (0.8 ) 0.2 (12.3 ) 1.9 Other (0.1 ) 0.5 1.7 (3.5 ) Investment gains (losses), net $ (5.9 ) $ 11.0 $ 18.6 $ (130.6 ) |
Cash Flows Related to Investment Securities and Other Assets [Table Text Block] | Nine months ended September 30, 2023 2022 Purchases Sales, Purchases Sales, and settlements and Net and settlements and Net settlements maturities cash flow settlements maturities cash flow Investments by consolidated seeded investment products $ (179.9 ) $ 10.1 $ (169.8 ) $ (18.8 ) $ 40.5 $ 21.7 Investments (150.1 ) 101.6 (48.5 ) (109.6 ) 144.4 34.8 |
Note 5 - Derivative Instrumen_2
Note 5 - Derivative Instruments (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | Notional value September 30, 2023 December 31, 2022 Futures $ 1,095.7 $ 196.8 Credit default swaps 106.7 115.1 Total return swaps 40.9 37.2 Foreign currency forward contracts and swaps 173.8 131.7 Notional value September 30, 2023 December 31, 2022 Futures $ 1,751.3 $ 141.3 Credit default swaps 11.0 2.2 Total return swaps 0.2 10.4 Interest rate swaps 2.1 — Options — 0.1 Foreign currency forward contracts and swaps 9.7 18.3 Notional value September 30, 2023 December 31, 2022 Foreign currency forward contracts and swaps $ 89.1 $ 74.7 |
Derivative Instruments, Gain (Loss) [Table Text Block] | Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Futures $ 9.1 $ 8.7 $ 6.0 $ 45.7 Credit default swaps 0.8 0.2 (1.7 ) 5.8 Total return swaps 5.2 3.1 (6.5 ) 39.3 Foreign currency forward contracts and swaps (2.5 ) (3.8 ) 6.3 (13.3 ) Total gains (losses) from derivative instruments $ 12.6 $ 8.2 $ 4.1 $ 77.5 |
Schedule of Derivative Instruments [Table Text Block] | Fair value September 30, 2023 December 31, 2022 Derivative assets $ 10.6 $ 5.3 Derivative liabilities 5.4 4.0 |
Note 6 - Fair Value Measureme_2
Note 6 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair value measurements using: Quoted prices in Significant active markets for other Significant identical assets observable unobservable and liabilities inputs inputs (Level 1) (Level 2) (Level 3) Total Assets: Cash equivalents $ 825.2 $ — $ — $ 825.2 Investments: Consolidated VIEs 144.1 170.9 0.1 315.1 Other investments 227.4 65.6 0.1 293.1 Total investments 371.5 236.5 0.2 608.2 Seed hedge derivatives — 10.6 — 10.6 Derivatives used in consolidated seeded investment products — 1.2 — 1.2 Derivatives used in foreign currency hedging program — 0.6 — 0.6 Total assets $ 1,196.7 $ 248.9 $ 0.2 $ 1,445.8 Liabilities: Derivatives used in consolidated seeded investment products $ — $ 2.0 $ — $ 2.0 Derivatives used in foreign currency hedging program — 0.8 — 0.8 Securities sold, not yet purchased 1.5 — — 1.5 Seed hedge derivatives — 5.4 — 5.4 Long-term debt (1) — 293.7 — 293.7 Deferred bonuses — — 92.1 92.1 Total liabilities $ 1.5 $ 301.9 $ 92.1 $ 395.5 Fair value measurements using: Quoted prices in Significant active markets for other Significant identical assets observable unobservable and liabilities inputs inputs (Level 1) (Level 2) (Level 3) Total Assets: Cash equivalents $ 688.4 $ — $ — $ 688.4 Investments: Consolidated VIEs 275.4 54.0 4.9 334.3 Other investments 171.9 89.4 0.3 261.6 Total investments 447.3 143.4 5.2 595.9 Seed hedge derivatives — 5.3 — 5.3 Derivatives used in consolidated seeded investment products — 0.1 — 0.1 Derivatives used in foreign currency hedging program — 0.4 — 0.4 Option agreement — — 0.8 0.8 Contingent consideration from sale of subsidiaries — — 12.3 12.3 Total assets $ 1,135.7 $ 149.2 $ 18.3 $ 1,303.2 Liabilities: Derivatives used in consolidated seeded investment products $ — $ 0.6 $ — $ 0.6 Derivatives used in foreign currency hedging program — 1.1 — 1.1 Securities sold, not yet purchased 0.5 — — 0.5 Seed hedge derivatives — 4.0 — 4.0 Long-term debt (1) — 295.4 — 295.4 Deferred bonuses — — 46.5 46.5 Total liabilities $ 0.5 $ 301.1 $ 46.5 $ 348.1 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Beginning of period fair value $ 16.6 $ 21.1 $ 18.3 $ 8.8 Option agreement — (1.8 ) — 1.3 Contingent consideration from sale of subsidiaries — (0.2 ) — 12.1 Settlement of contingent consideration — — (0.2 ) — Fair value adjustments (11.7 ) — (13.1 ) (1.8 ) Transfers from Level 1 — — 0.2 0.5 Transfers to Level 1 (4.8 ) — (4.8 ) (2.1 ) Purchases of securities — (0.1 ) — 0.9 Sales of securities 0.1 — (0.2 ) (0.3 ) Foreign currency translation — (0.2 ) — (0.6 ) End of period fair value $ 0.2 $ 18.8 $ 0.2 $ 18.8 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Beginning of period fair value $ 78.2 $ 27.6 $ 46.5 $ 50.5 Fair value adjustments (0.7 ) (1.2 ) 1.9 (3.8 ) Vesting of deferred bonuses (0.2 ) (0.5 ) (34.5) (36.5 ) Amortization of deferred bonuses 15.9 9.6 41.8 28.8 Foreign currency translation (1.1 ) (2.6 ) 0.6 (6.1 ) Additions — — 35.8 — End of period fair value $ 92.1 $ 32.9 $ 92.1 $ 32.9 |
Note 7 - Goodwill and Intangi_2
Note 7 - Goodwill and Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | Foreign December 31, currency September 30, 2022 Amortization Disposal translation 2023 Indefinite-lived intangible assets: Investment management agreements $ 2,046.5 $ — $ — $ 3.1 $ 2,049.6 Trademarks 360.0 — — — 360.0 Definite-lived intangible assets: Client relationships 68.9 — — (0.7 ) 68.2 Accumulated amortization (60.7 ) (1.5 ) — 0.3 (61.9 ) Net intangible assets $ 2,414.7 $ (1.5 ) $ — $ 2.7 $ 2,415.9 Goodwill $ 1,253.1 $ — $ — $ 6.7 $ 1,259.8 Foreign December 31, currency September 30, 2021 Amortization Disposal translation 2022 Indefinite-lived intangible assets: Investment management agreements $ 2,114.8 $ — $ — $ (67.1 ) $ 2,047.7 Trademarks 366.7 — (4.7 ) — 362.0 Definite-lived intangible assets: Client relationships 168.4 — (84.8 ) (11.0 ) 72.6 Accumulated amortization (107.2 ) (3.2 ) 44.7 8.9 (56.8 ) Net intangible assets $ 2,542.7 $ (3.2 ) $ (44.8 ) $ (69.2 ) $ 2,425.5 Goodwill $ 1,341.5 $ — $ (7.0 ) $ (128.5 ) $ 1,206.0 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Future amortization Amount 2023 (remainder of year) $ 0.2 2024 0.4 2025 0.4 2026 0.4 2027 0.4 Thereafter 4.5 Total $ 6.3 |
Note 8 - Debt (Tables)
Note 8 - Debt (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Long-Term Debt Instruments [Table Text Block] | September 30, 2023 December 31, 2022 Carrying Fair Carrying Fair value value value value 4.875% Senior Notes due 2025 $ 305.3 $ 293.7 $ 307.5 $ 295.4 |
Note 9 - Income Taxes (Tables)
Note 9 - Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Effective tax rate 13.2 % 19.6 % 19.3 % 33.0 % |
Note 10 - Noncontrolling Inte_2
Note 10 - Noncontrolling Interests (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Redeemable Noncontrolling Interest [Table Text Block] | September 30, December 31, 2023 2022 Consolidated seeded investment products $ 245.9 $ 233.9 |
Noncontrolling Interest Increase (Decrease) [Table Text Block] | Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Opening balance $ 389.8 $ 921.1 $ 233.9 $ 148.5 Changes in market value (7.5 ) 7.0 11.7 (114.1 ) Changes in ownership (135.4 ) (795.3 ) 0.8 121.9 Foreign currency translation (1.0 ) 20.3 (0.5 ) (3.2 ) Closing balance $ 245.9 $ 153.1 $ 245.9 $ 153.1 |
Note 11 - Long-Term Incentive_2
Note 11 - Long-Term Incentive and Employee Compensation (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Share-Based Payment Arrangement, Activity [Table Text Block] | Three months ended Nine months ended September 30, September 30, 2023 2023 Restricted stock $ 3.7 $ 66.1 Mutual fund awards 0.1 54.1 Total $ 3.8 $ 120.2 |
Note 12 - Retirement Benefit _2
Note 12 - Retirement Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Net Benefit Costs [Table Text Block] | Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Interest cost $ (7.0 ) $ (3.9 ) $ (20.7 ) $ (12.5 ) Amortization of prior service cost (0.1 ) (0.1 ) (0.3 ) (0.3 ) Amortization of net loss (0.4 ) — (0.4 ) — Expected return on plan assets 6.9 3.3 20.3 10.5 Net periodic benefit cost $ (0.6 ) $ (0.7 ) $ (1.1 ) $ (2.3 ) |
Note 13 - Accumulated Other C_2
Note 13 - Accumulated Other Comprehensive Loss (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Three months ended September 30, 2023 2022 Retirement Retirement Foreign benefit Foreign benefit currency asset, net Total currency asset, net Total Beginning balance $ (493.9 ) $ (70.2 ) $ (564.1 ) $ (555.6 ) $ (32.6 ) $ (588.2 ) Other comprehensive loss (67.9 ) — (67.9 ) (129.4 ) — (129.4 ) Reclassifications to net income (2.8 ) 0.5 (2.3 ) (9.8 ) 0.1 (9.7 ) Total other comprehensive income (loss) (70.7 ) 0.5 (70.2 ) (139.2 ) 0.1 (139.1 ) Less: other comprehensive loss (income) attributable to noncontrolling interests 1.0 — 1.0 (20.2 ) — (20.2 ) Ending balance $ (563.6 ) $ (69.7 ) $ (633.3 ) $ (715.0 ) $ (32.5 ) $ (747.5 ) Nine months ended September 30, 2023 2022 Retirement Retirement Foreign benefit Foreign benefit currency asset, net Total currency asset, net Total Beginning balance $ (577.3 ) $ (70.4 ) $ (647.7 ) $ (354.2 ) $ (32.8 ) $ (387.0 ) Other comprehensive income (loss) 15.0 — 15.0 (359.9 ) — (359.9 ) Reclassifications to net income (0.7 ) 0.7 — (4.1 ) 0.3 (3.8 ) Total other comprehensive income (loss) 14.3 0.7 15.0 (364.0 ) 0.3 (363.7 ) Less: other comprehensive loss (income) attributable to noncontrolling interests (0.6 ) — (0.6 ) 3.2 — 3.2 Ending balance $ (563.6 ) $ (69.7 ) $ (633.3 ) $ (715.0 ) $ (32.5 ) $ (747.5 ) |
Comprehensive Income (Loss) [Table Text Block] | Three months ended September 30, 2023 2022 Pre-tax Tax Net Pre-tax Tax Net amount impact amount amount impact amount Foreign currency translation adjustments $ (68.8 ) $ 0.9 $ (67.9 ) $ (130.8 ) $ 1.4 $ (129.4 ) Reclassifications to net income (2.3 ) — (2.3 ) (9.7 ) — (9.7 ) Total other comprehensive income (loss) $ (71.1 ) $ 0.9 $ (70.2 ) $ (140.5 ) $ 1.4 $ (139.1 ) Nine months ended September 30, 2023 2022 Pre-tax Tax Net Pre-tax Tax Net amount impact amount amount impact amount Foreign currency translation adjustments $ 11.5 $ 3.5 $ 15.0 $ (364.5 ) $ 4.6 $ (359.9 ) Reclassifications to net income — — — (3.8 ) — (3.8 ) Total other comprehensive income (loss) $ 11.5 $ 3.5 $ 15.0 $ (368.3 ) $ 4.6 $ (363.7 ) |
Note 14 - Earnings and Divide_2
Note 14 - Earnings and Dividends Per Share (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Net income attributable to JHG $ 93.5 $ 107.6 $ 270.7 $ 307.4 Allocation of earnings to participating stock-based awards (2.8 ) (3.5 ) (7.8 ) (9.0 ) Net income attributable to JHG common shareholders $ 90.7 $ 104.1 $ 262.9 $ 298.4 Weighted-average common shares outstanding — basic 160.8 160.5 160.5 162.2 Dilutive effect of nonparticipating stock-based awards 0.1 0.4 0.2 0.4 Weighted-average common shares outstanding — diluted 160.9 160.9 160.7 162.6 Earnings per share: Basic $ 0.56 $ 0.65 $ 1.64 $ 1.84 Diluted $ 0.56 $ 0.65 $ 1.64 $ 1.84 |
Dividends Declared [Table Text Block] | Dividend Date Dividends paid Date per share declared (in US$ millions) paid $ 0.39 February 1, 2023 $ 64.7 February 28, 2023 $ 0.39 May 2, 2023 $ 64.6 May 31, 2023 $ 0.39 August 1, 2023 $ 64.7 August 30, 2023 |
Note 2 - Dispositions (Details
Note 2 - Dispositions (Details Textual) $ in Thousands | 9 Months Ended | |||
Mar. 31, 2022 USD ($) | Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Feb. 03, 2022 | |
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | $ 0 | $ (9,100) | ||
Proceeds from Divestiture of Businesses | 0 | $ 14,900 | ||
Intech Investment Management LLC [Member] | Term Note [Member] | ||||
Financing Receivable, before Allowance for Credit Loss | $ 20,000 | 15,900 | ||
Financing Receivable Term (Year) | 7 years | |||
Number Of Tranches | 2 | |||
Interest Receivable | 900 | |||
Intech Investment Management LLC [Member] | Term Note, Tranche One [Member] | ||||
Financing Receivable, before Allowance for Credit Loss | $ 10,000 | |||
Investment Interest Rate | 5.50% | |||
Intech Investment Management LLC [Member] | Term Note, Tranche Two [Member] | ||||
Investment Interest Rate | 6% | |||
Financing Receivable, Allowance for Credit Loss | $ 0 | |||
Intech Investment Management LLC [Member] | ||||
Percentage Of Ownership Sold | 97% | |||
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | $ 9,100 | |||
Proceeds from Divestiture of Businesses | 14,900 | |||
Disposal Group Including Discontinued Operation Contingent Consideration | $ 17,500 |
Note 3 - Consolidation - VIEs (
Note 3 - Consolidation - VIEs (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Variable Interest Entity, Primary Beneficiary [Member] | ||
Unconsolidated VIEs | $ 15.3 | $ 1.5 |
Note 3 - Consolidation - VREs (
Note 3 - Consolidation - VREs (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Investments | $ 293.1 | $ 261.6 |
Cash and cash equivalents | 1,121.2 | 1,162.3 |
Other current assets | 151.9 | 120.3 |
Accounts payable and accrued liabilities | (205) | (232.6) |
Variable Rights Entity, Primary Beneficiary, Aggregated Disclosure [Member] | ||
Investments | 209.1 | 206 |
Cash and cash equivalents | 5.5 | 5.8 |
Other current assets | 22 | 1.8 |
Accounts payable and accrued liabilities | (2.9) | (1) |
Total | 233.7 | 212.6 |
Redeemable noncontrolling interests in consolidated VREs | (81) | (35.1) |
JHG's net interest in consolidated VREs | $ 152.7 | $ 177.5 |
Note 3 - Consolidation - Uncons
Note 3 - Consolidation - Unconsolidated VREs (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Unconsolidated VREs [Member] | ||
JHG's net interest in consolidated VREs | $ 9.2 | $ 3.4 |
Note 4 - Investments (Details T
Note 4 - Investments (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Jun. 01, 2023 | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Gain (Loss) on Investments | $ (5.9) | $ 11 | $ 18.6 | $ (130.6) | |
Privacore [Member] | |||||
Payments to Acquire Equity Method Investments | $ 25 | ||||
Equity Method Investment, Ownership Percentage | 49% | 49% | |||
Long Tail Alpha Investment [Member] | |||||
Equity Method Investment, Ownership Percentage | 20% | 20% | |||
Reclassification of Earnings from an Equity Method Investment [Member] | |||||
Gain (Loss) on Investments | $ 12.5 |
Note 4 - Investment - General D
Note 4 - Investment - General Disclosure (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Seeded investment products | $ 588.7 | $ 574.9 |
Estimated Fair Value | 638.9 | 614.6 |
Equity method investments | 30.7 | 18.7 |
Unconsolidated VIEs and VREs [Member] | ||
Seeded investment products | 24.5 | 4.9 |
Separately Managed Accounts [Member] | ||
Seeded investment products | 40 | 29.7 |
Investments Related to Deferred Compensation Plans [Member] | ||
Estimated Fair Value | 11.1 | 10.7 |
Other Security Investments [Member] | ||
Estimated Fair Value | 8.4 | 10.3 |
Current Investments [Member] | ||
Estimated Fair Value | 608.2 | 595.9 |
Variable Interest Entity, Primary Beneficiary [Member] | ||
Seeded investment products | 315.1 | 334.3 |
Voting Rights Entity, Primary Beneficiary Aggregated Disclosure [Member] | ||
Seeded investment products | $ 209.1 | $ 206 |
Note 4 - Investment Securities
Note 4 - Investment Securities - Net Unrealized Gains (Losses) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Unrealized gains (losses) on investments held at period end | $ (6.5) | $ 10 | $ 1.1 | $ (44.6) |
Note 4 - Investment Securitie_2
Note 4 - Investment Securities - Investment Gains (Losses), Net (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Investment gains (losses), net | $ (5.9) | $ 11 | $ 18.6 | $ (130.6) |
Seeded Investment Products and Hedges, Net [Member] | ||||
Investment gains (losses), net | 2.5 | 3.3 | 17.5 | (14.9) |
Third-party Ownership Interests in Seeded Investment Products [Member] | ||||
Investment gains (losses), net | (7.5) | 7 | 11.7 | (114.1) |
Equity Method Investments [Member] | ||||
Investment gains (losses), net | (0.8) | 0.2 | (12.3) | 1.9 |
Other Security Investments [Member] | ||||
Investment gains (losses), net | $ (0.1) | $ 0.5 | $ 1.7 | $ (3.5) |
Note 4 - Investment Securitie_3
Note 4 - Investment Securities - Cash Flows (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Investments, net | $ (48.5) | $ 34.8 |
Seeded Investment Products [Member] | ||
Purchases and settlements | (179.9) | (18.8) |
Sales, settlements and maturities | 10.1 | 40.5 |
Investments, net | (169.8) | 21.7 |
Securities Investment [Member] | ||
Purchases and settlements | (150.1) | (109.6) |
Sales, settlements and maturities | 101.6 | 144.4 |
Investments, net | $ (48.5) | $ 34.8 |
Note 5 - Derivative Instrumen_3
Note 5 - Derivative Instruments (Details Textual) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Financial Instruments Sold, Not yet Purchased, Derivatives and Other Contracts | $ 1.5 | $ 0.5 |
Note 5 - Derivative Instrumen_4
Note 5 - Derivative Instruments - Derivative Instruments (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Futures [Member] | ||
Notional value of derivative | $ 1,095.7 | $ 196.8 |
Futures [Member] | Seeded Investment Products [Member] | ||
Notional value of derivative | 1,751.3 | 141.3 |
Foreign Currency, Forward Contracts and Swaps [Member] | ||
Notional value of derivative | 173.8 | 131.7 |
Foreign Currency, Forward Contracts and Swaps [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member] | ||
Notional value of derivative | 89.1 | 74.7 |
Foreign Currency, Forward Contracts and Swaps [Member] | Seeded Investment Products [Member] | ||
Notional value of derivative | 9.7 | 18.3 |
Credit Default Swaps [Member] | ||
Notional value of derivative | 106.7 | 115.1 |
Credit Default Swaps [Member] | Seeded Investment Products [Member] | ||
Notional value of derivative | 11 | 2.2 |
Total Return Swaps [Member] | ||
Notional value of derivative | 40.9 | 37.2 |
Total Return Swaps [Member] | Seeded Investment Products [Member] | ||
Notional value of derivative | 0.2 | 10.4 |
Interest Rate Swap [Member] | Seeded Investment Products [Member] | ||
Notional value of derivative | 2.1 | 0 |
Options [Member] | Seeded Investment Products [Member] | ||
Notional value of derivative | $ 0 | $ 0.1 |
Note 5 - Derivative Instrumen_5
Note 5 - Derivative Instruments - Change in Fair Value of Derivatives (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Gain (losses) from derivative instruments | $ 12.6 | $ 8.2 | $ 4.1 | $ 77.5 |
Futures [Member] | ||||
Gain (losses) from derivative instruments | 9.1 | 8.7 | 6 | 45.7 |
Credit Default Swaps [Member] | ||||
Gain (losses) from derivative instruments | 0.8 | 0.2 | (1.7) | 5.8 |
Total Return Swaps [Member] | ||||
Gain (losses) from derivative instruments | 5.2 | 3.1 | (6.5) | 39.3 |
Foreign Currency, Forward Contracts and Swaps [Member] | ||||
Gain (losses) from derivative instruments | $ (2.5) | $ (3.8) | $ 6.3 | $ (13.3) |
Note 5 - Derivative Instrumen_6
Note 5 - Derivative Instruments - Derivative Assets and Liabilities (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Derivative assets | $ 10.6 | $ 5.3 |
Derivative liabilities | $ 5.4 | $ 4 |
Note 6 - Fair Value Measureme_3
Note 6 - Fair Value Measurements - Level of Fair Value (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 | ||
Total investment securities | $ 293.1 | $ 261.6 | ||
Securities sold, not yet purchased | 1.5 | 0.5 | ||
Variable Interest Entity, Primary Beneficiary [Member] | ||||
Total investment securities | 315.1 | 334.3 | ||
Fair Value, Recurring [Member] | ||||
Cash equivalents | 825.2 | 688.4 | ||
Total investment securities | 608.2 | 595.9 | ||
Total assets | 1,445.8 | 1,303.2 | ||
Securities sold, not yet purchased | 1.5 | 0.5 | ||
Long-term debt | 293.7 | 295.4 | ||
Total liabilities | 395.5 | 348.1 | ||
Contingent consideration from sale of subsidiaries | 12.3 | |||
Fair Value, Recurring [Member] | Seed Hedge Derivatives [Member] | ||||
Derivative assets | 10.6 | 5.3 | ||
Derivative liabilities | 5.4 | 4 | ||
Fair Value, Recurring [Member] | Derivatives Used in Consolidated Seeded Investment Products [Member] | ||||
Derivative assets | 1.2 | 0.1 | ||
Derivative liabilities | 2 | 0.6 | ||
Fair Value, Recurring [Member] | Foreign Currency, Forward Contracts and Swaps [Member] | ||||
Derivative assets | 0.6 | 0.4 | ||
Derivative liabilities | 0.8 | 1.1 | ||
Fair Value, Recurring [Member] | Options [Member] | ||||
Derivative assets | 0.8 | |||
Fair Value, Recurring [Member] | Deferred Bonuses Hedge [Member] | ||||
Derivative liabilities | 92.1 | 46.5 | ||
Fair Value, Recurring [Member] | Other Investment Securities [Member] | ||||
Total investment securities | 293.1 | 261.6 | ||
Fair Value, Recurring [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||||
Total investment securities | 315.1 | 334.3 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Cash equivalents | 825.2 | 688.4 | ||
Total investment securities | 371.5 | 447.3 | ||
Total assets | 1,196.7 | 1,135.7 | ||
Securities sold, not yet purchased | 1.5 | 0.5 | ||
Long-term debt | 0 | 0 | [1] | |
Total liabilities | 1.5 | 0.5 | ||
Contingent consideration from sale of subsidiaries | 0 | |||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Seed Hedge Derivatives [Member] | ||||
Derivative assets | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Derivatives Used in Consolidated Seeded Investment Products [Member] | ||||
Derivative assets | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Foreign Currency, Forward Contracts and Swaps [Member] | ||||
Derivative assets | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Options [Member] | ||||
Derivative assets | 0 | |||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Deferred Bonuses Hedge [Member] | ||||
Derivative liabilities | 0 | 0 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other Investment Securities [Member] | ||||
Total investment securities | 227.4 | 171.9 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||||
Total investment securities | 144.1 | 275.4 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Cash equivalents | 0 | 0 | ||
Total investment securities | 236.5 | 143.4 | ||
Total assets | 248.9 | 149.2 | ||
Securities sold, not yet purchased | 0 | 0 | ||
Long-term debt | 293.7 | [1] | 295.4 | |
Total liabilities | 301.9 | 301.1 | ||
Contingent consideration from sale of subsidiaries | 0 | |||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Seed Hedge Derivatives [Member] | ||||
Derivative assets | 10.6 | 5.3 | ||
Derivative liabilities | 5.4 | 4 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Derivatives Used in Consolidated Seeded Investment Products [Member] | ||||
Derivative assets | 1.2 | 0.1 | ||
Derivative liabilities | 2 | 0.6 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Foreign Currency, Forward Contracts and Swaps [Member] | ||||
Derivative assets | 0.6 | 0.4 | ||
Derivative liabilities | 0.8 | 1.1 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Options [Member] | ||||
Derivative assets | 0 | |||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Deferred Bonuses Hedge [Member] | ||||
Derivative liabilities | 0 | 0 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other Investment Securities [Member] | ||||
Total investment securities | 65.6 | 89.4 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||||
Total investment securities | 170.9 | 54 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Cash equivalents | 0 | 0 | ||
Total investment securities | 0.2 | 5.2 | ||
Total assets | 0.2 | 18.3 | ||
Securities sold, not yet purchased | 0 | 0 | ||
Long-term debt | 0 | 0 | ||
Total liabilities | 92.1 | 46.5 | ||
Contingent consideration from sale of subsidiaries | 12.3 | |||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Seed Hedge Derivatives [Member] | ||||
Derivative assets | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Derivatives Used in Consolidated Seeded Investment Products [Member] | ||||
Derivative assets | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Foreign Currency, Forward Contracts and Swaps [Member] | ||||
Derivative assets | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Options [Member] | ||||
Derivative assets | 0.8 | |||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Deferred Bonuses Hedge [Member] | ||||
Derivative liabilities | 92.1 | 46.5 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other Investment Securities [Member] | ||||
Total investment securities | 0.1 | 0.3 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||||
Total investment securities | $ 0.1 | $ 4.9 | ||
[1]Carried at amortized cost and disclosed at fair value. |
Note 6 - Fair Value Measureme_4
Note 6 - Fair Value Measurements - Changes in Level 3 Assets (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Beginning of period fair value | $ 16.6 | $ 21.1 | $ 18.3 | $ 8.8 |
Option agreement | 0 | (1.8) | 0 | 1.3 |
Contingent consideration from sale of subsidiaries | 0 | (0.2) | 0 | 12.1 |
Settlement of contingent consideration | 0 | 0 | (0.2) | 0 |
Fair value adjustments | (11.7) | 0 | (13.1) | (1.8) |
Transfers from Level 1 | 0 | 0 | 0.2 | 0.5 |
Transfers to Level 1 | (4.8) | 0 | (4.8) | (2.1) |
Purchases of securities | 0 | (0.1) | 0 | 0.9 |
Sales of securities | 0.1 | 0 | (0.2) | (0.3) |
Foreign currency translation | 0 | (0.2) | 0 | (0.6) |
End of period fair value | $ 0.2 | $ 18.8 | $ 0.2 | $ 18.8 |
Note 6 - Fair Value Measureme_5
Note 6 - Fair Value Measurements - Changes in Level 3 Liabilities (Details) - Deferred Bonuses [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Beginning of period fair value | $ 78.2 | $ 27.6 | $ 46.5 | $ 50.5 |
Fair value adjustments | (0.7) | (1.2) | 1.9 | (3.8) |
Vesting of deferred bonuses | (0.2) | (0.5) | (34.5) | (36.5) |
Amortization of deferred bonuses | 15.9 | 9.6 | 41.8 | 28.8 |
Foreign currency translation | (1.1) | (2.6) | 0.6 | (6.1) |
Additions | 0 | 0 | 35.8 | 0 |
End of period fair value | $ 92.1 | $ 32.9 | $ 92.1 | $ 32.9 |
Note 7 - Goodwill and Intangi_3
Note 7 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Millions | Sep. 30, 2023 | Sep. 30, 2022 | Mar. 31, 2022 |
Disposal Group, Including Discontinued Operation, Goodwill | $ 0 | ||
Intech Investment Management LLC [Member] | |||
Disposal Group, Including Discontinued Operation, Goodwill | $ 7 | ||
Trademarks [Member] | Intech Investment Management LLC [Member] | |||
Disposal Group, Including Discontinued Operation, Intangible Assets | 4.7 | ||
Client Relationships [Member] | |||
Disposal Group, Including Discontinued Operation, Intangible Assets | $ 0 | $ 84.8 | |
Client Relationships [Member] | Intech Investment Management LLC [Member] | |||
Disposal Group, Including Discontinued Operation, Intangible Assets | $ 40.1 |
Note 7 - Goodwill and Intangi_4
Note 7 - Goodwill and Intangible Assets - Intangible Assets and Goodwill (Details) - USD ($) $ in Millions | 6 Months Ended | 9 Months Ended | |
Jun. 30, 2023 | Sep. 30, 2023 | Sep. 30, 2022 | |
Intangible assets, amortization | $ (1.5) | $ (3.2) | |
Accumulated amortization, balance | $ (60.7) | (60.7) | (107.2) |
Accumulated amortization, disposals | 0 | ||
Foreign currency translation | 0.3 | 8.9 | |
Accumulated amortization, balance | (61.9) | (56.8) | |
Net intangible assets, balance | 2,414.7 | 2,414.7 | 2,542.7 |
Net intangible assets, disposals | 0 | ||
Net intangible assets | 2.7 | (69.2) | |
Net intangible assets, balance | 2,415.9 | 2,425.5 | |
Goodwill, balance | 1,253.1 | 1,253.1 | 1,341.5 |
Goodwill, disposals | 0 | ||
Goodwill, foreign currency translation | 6.7 | (128.5) | |
Goodwill, balance | 1,259.8 | 1,206 | |
Intangible assets, impairment | (44.8) | ||
Goodwill impairment | (7) | ||
Client Relationships [Member] | |||
Intangible assets, disposals | 0 | (84.8) | |
Foreign currency translation | (0.7) | (11) | |
Balance | 68.9 | 68.9 | 168.4 |
Intangible assets, amortization | 0 | 0 | |
Client relationships | (0.7) | (11) | |
Balance | 68.2 | 72.6 | |
Investment Management Agreements [Member] | |||
Balance | 2,046.5 | 2,046.5 | 2,114.8 |
Intangible assets, disposals | 0 | ||
Foreign currency translation | 3.1 | (67.1) | |
Balance | 2,049.6 | 2,047.7 | |
Client relationships | 3.1 | (67.1) | |
Intangible assets, impairment | 0 | ||
Trademarks [Member] | |||
Balance | 360 | 360 | 366.7 |
Intangible assets, disposals | 0 | ||
Foreign currency translation | 0 | 0 | |
Balance | $ 360 | 362 | |
Client relationships | $ 0 | 0 | |
Intangible assets, impairment | $ (4.7) |
Note 7 - Goodwill and Intangi_5
Note 7 - Goodwill and Intangible Assets - Schedule of Future Amortization (Details) $ in Millions | Sep. 30, 2023 USD ($) |
2023 (remainder of year) | $ 0.2 |
2024 | 0.4 |
2025 | 0.4 |
2026 | 0.4 |
2027 | 0.4 |
Thereafter | 4.5 |
Total | $ 6.3 |
Note 8 - Debt (Details Textual)
Note 8 - Debt (Details Textual) $ in Thousands | 9 Months Ended |
Sep. 30, 2023 USD ($) | |
Revolving Credit Facility [Member] | |
Line of Credit Facility, Maximum Borrowing Capacity | $ 200,000 |
Line of Credit Facility, Option for Additional Capacity, Additional Borrowing Capacity | $ 50,000 |
Line of Credit Facility, Covenant Terms Financing Leverage Ratio, Upper Range Limit | 3 |
Long-Term Line of Credit, Total | $ 0 |
Senior Notes, 4.876 Percent, Due 2025 [Member] | |
Debt Instrument, Interest Rate, Stated Percentage | 4.875% |
Debt Instrument, Face Amount | $ 300,000 |
Debt Instrument, Unamortized Premium | $ 5,300 |
Note 8 - Debt - Schedule of Deb
Note 8 - Debt - Schedule of Debt (Details) - Senior Notes, 4.876 Percent, Due 2025 [Member] - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Long-term debt | $ 305.3 | $ 307.5 |
Long-term debt, fair value | $ 293.7 | $ 295.4 |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent | 23.90% | 23.50% | 23.90% | 23.50% |
Non Cash Deferred Tax Expense (Benefit) | $ (8.8) | |||
Unrecognized Tax Benefits | $ 23.6 | 23.6 | ||
Maximum [Member] | ||||
Decrease in Unrecognized Tax Benefits is Reasonably Possible | $ 6.7 | $ 6.7 |
Note 9 - Income Taxes - Schedul
Note 9 - Income Taxes - Schedule of Effective Income Tax Rate (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Effective tax rate | 13.20% | 19.60% | 19.30% | 33% |
Note 10 - Noncontrolling Inte_3
Note 10 - Noncontrolling Interests - Redeemable Noncontrolling Interest (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2021 |
Total redeemable noncontrolling interests | $ 245.9 | $ 389.8 | $ 233.9 | $ 153.1 | $ 921.1 | $ 148.5 |
Consolidated Entity, Excluding VIE [Member] | ||||||
Total redeemable noncontrolling interests | $ 245.9 | $ 233.9 |
Note 10 - Noncontrolling Inte_4
Note 10 - Noncontrolling Interests - Schedule of Changes in Noncontrolling Interests (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Opening balance | $ 389.8 | $ 921.1 | $ 233.9 | $ 148.5 |
Changes in market value | (7.5) | 7 | 11.7 | (114.1) |
Changes in ownership | (135.4) | (795.3) | 0.8 | 121.9 |
Foreign currency translation | (1) | 20.3 | (0.5) | (3.2) |
Closing balance | $ 245.9 | $ 153.1 | $ 245.9 | $ 153.1 |
Note 11 - Long-Term Incentive_3
Note 11 - Long-Term Incentive and Employee Compensation - Award Activity (Details) - shares shares in Millions | 3 Months Ended | 9 Months Ended |
Sep. 30, 2023 | Sep. 30, 2023 | |
Awards granted (in shares) | 3.8 | 120.2 |
Restricted Stock [Member] | ||
Awards granted (in shares) | 3.7 | 66.1 |
Mutual Fund Awards [Member] | ||
Awards granted (in shares) | 0.1 | 54.1 |
Note 12 - Retirement Benefit _3
Note 12 - Retirement Benefit Plans - Actuarial Gains (Losses), Benefit Cost, Cash Flows (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Interest cost | $ (7) | $ (3.9) | $ (20.7) | $ (12.5) |
Amortization of prior service cost | (0.1) | (0.1) | (0.3) | (0.3) |
Amortization of net loss | (0.4) | 0 | (0.4) | 0 |
Expected return on plan assets | 6.9 | 3.3 | 20.3 | 10.5 |
Net periodic benefit cost | $ (0.6) | $ (0.7) | $ (1.1) | $ (2.3) |
Note 13 - Accumulated Other C_3
Note 13 - Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Beginning balance | $ 4,359.8 | |||
Total other comprehensive income (loss) | $ (70.2) | $ (139.1) | 15 | $ (363.7) |
Less: other comprehensive loss (income) attributable to noncontrolling interests | (1) | 20.2 | 0.6 | (3.2) |
Ending balance | 4,455.9 | 4,455.9 | ||
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | ||||
Beginning balance | (493.9) | (555.6) | (577.3) | (354.2) |
Other comprehensive loss | (67.9) | (129.4) | 15 | (359.9) |
Reclassifications to net income | (2.8) | (9.8) | (0.7) | (4.1) |
Total other comprehensive income (loss) | (70.7) | (139.2) | 14.3 | (364) |
Less: other comprehensive loss (income) attributable to noncontrolling interests | 1 | (20.2) | (0.6) | 3.2 |
Ending balance | (563.6) | (715) | (563.6) | (715) |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||
Beginning balance | (70.2) | (32.6) | (70.4) | (32.8) |
Other comprehensive loss | 0 | 0 | 0 | 0 |
Reclassifications to net income | 0.5 | 0.1 | 0.7 | 0.3 |
Total other comprehensive income (loss) | 0.5 | 0.1 | 0.7 | 0.3 |
Less: other comprehensive loss (income) attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Ending balance | (69.7) | (32.5) | (69.7) | (32.5) |
AOCI Attributable to Parent [Member] | ||||
Beginning balance | (564.1) | (588.2) | (647.7) | (387) |
Other comprehensive loss | (67.9) | (129.4) | 15 | (359.9) |
Reclassifications to net income | (2.3) | (9.7) | 0 | (3.8) |
Total other comprehensive income (loss) | (70.2) | (139.1) | 15 | (363.7) |
Less: other comprehensive loss (income) attributable to noncontrolling interests | 1 | (20.2) | (0.6) | 3.2 |
Ending balance | $ (633.3) | $ (747.5) | $ (633.3) | $ (747.5) |
Note 13 - Accumulated Other C_4
Note 13 - Accumulated Other Comprehensive Loss - Schedule of Comprehensive Loss (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Total other comprehensive loss, pre tax | $ (71.1) | $ (140.5) | $ 11.5 | $ (368.3) |
Total other comprehensive loss, tax | 0.9 | 1.4 | 3.5 | 4.6 |
Total other comprehensive loss, net | (70.2) | (139.1) | 15 | (363.7) |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | ||||
Total other comprehensive loss, pre tax | (68.8) | (130.8) | 11.5 | (364.5) |
Total other comprehensive loss, tax | 0.9 | 1.4 | 3.5 | 4.6 |
Total other comprehensive loss, net | (67.9) | (129.4) | 15 | (359.9) |
Reclassification to Net Income [Member] | ||||
Total other comprehensive loss, pre tax | (2.3) | (9.7) | 0 | (3.8) |
Total other comprehensive loss, tax | 0 | 0 | 0 | 0 |
Total other comprehensive loss, net | $ (2.3) | $ (9.7) | $ 0 | $ (3.8) |
Note 14 - Earnings and Divide_3
Note 14 - Earnings and Dividends Per Share (Details Textual) - $ / shares | Oct. 31, 2023 | Aug. 01, 2023 | May 02, 2023 | Feb. 28, 2023 |
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.39 | $ 0.39 | $ 0.39 | |
Subsequent Event [Member] | ||||
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.39 |
Note 14 - Earnings and Divide_4
Note 14 - Earnings and Dividends Per Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net income attributable to JHG | $ 93.5 | $ 107.6 | $ 270.7 | $ 307.4 |
Allocation of earnings to participating stock-based awards | (2.8) | (3.5) | (7.8) | (9) |
Net income attributable to JHG common shareholders | $ 90.7 | $ 104.1 | $ 262.9 | $ 298.4 |
Weighted-average common shares outstanding — basic (in shares) | 160.8 | 160.5 | 160.5 | 162.2 |
Dilutive effect of nonparticipating stock-based awards (in shares) | 0.1 | 0.4 | 0.2 | 0.4 |
Weighted-average common shares outstanding — diluted (in shares) | 160.9 | 160.9 | 160.7 | 162.6 |
Basic (in dollars per share) | $ 0.56 | $ 0.65 | $ 1.64 | $ 1.84 |
Diluted (in dollars per share) | $ 0.56 | $ 0.65 | $ 1.64 | $ 1.84 |
Note 14 - Earnings and Divide_5
Note 14 - Earnings and Dividends Per Share - Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Millions | 9 Months Ended | ||||
Aug. 01, 2023 | May 02, 2023 | Feb. 28, 2023 | Sep. 30, 2023 | Sep. 30, 2022 | |
Dividend per share (in dollars per share) | $ 0.39 | $ 0.39 | $ 0.39 | ||
Dividends paid | $ 64.7 | $ 64.6 | $ 64.7 | $ 194 | $ 194.5 |