Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2023 | Feb. 23, 2024 | Jun. 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 | FY | ||
Document Fiscal Year Focus | 2023 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 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 | 20 | ||
Local Phone Number | 7818 1818 | ||
Title of 12(b) Security | Common Stock, $1.50 Per Share Par Value | ||
Trading Symbol | JHG | ||
Security Exchange Name | NYSE | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
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 | ||
ICFR Auditor Attestation Flag | true | ||
Document Financial Statement Error Correction [Flag] | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 4,514,177,911 | ||
Entity Common Stock, Shares Outstanding | 161,734,074 | ||
Auditor Firm ID | 238 | ||
Auditor Name | PricewaterhouseCoopers LLP | ||
Auditor Location | Denver, Colorado |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 1,152.4 | $ 1,162.3 |
Investments | 334.2 | 261.6 |
Fees and other receivables | 294 | 252.9 |
OEIC and unit trust receivables | 94.6 | 65.7 |
Other current assets | 174.5 | 120.3 |
Total current assets | 2,455.6 | 2,214.8 |
Non-current assets: | ||
Property, equipment and software, net | 44.2 | 51.8 |
Intangible assets, net | 2,431.3 | 2,414.7 |
Goodwill | 1,290.3 | 1,253.1 |
Retirement benefit asset, net | 87.6 | 97.9 |
Other non-current assets | 187.6 | 205.5 |
Total assets | 6,496.6 | 6,237.8 |
Current liabilities: | ||
Accounts payable and accrued liabilities | 231.4 | 232.6 |
Current portion of accrued compensation, benefits and staff costs | 297.9 | 300.8 |
OEIC and unit trust payables | 98.5 | 72.8 |
Total current liabilities | 631 | 610.5 |
Non-current liabilities: | ||
Accrued compensation, benefits and staff costs | 45 | 46.9 |
Long-term debt | 304.6 | 307.5 |
Deferred tax liabilities, net | 570.8 | 574.6 |
Retirement benefit obligations, net | 2.3 | 3 |
Other non-current liabilities | 87.4 | 98.8 |
Total liabilities | 1,641.1 | 1,641.3 |
Commitments and contingencies (See Note 19) | ||
REDEEMABLE NONCONTROLLING INTERESTS | 317.2 | 233.9 |
EQUITY | ||
Common stock, $1.50 par value; 480,000,000 shares authorized, and 163,338,035 and 165,657,905 shares issued and outstanding as of December 31, 2023, and December 31, 2022, respectively | 245 | 248.5 |
Additional paid-in-capital | 3,722.3 | 3,706.6 |
Treasury shares, 41,444 and 312,469 shares held at December 31, 2023, and December 31, 2022, respectively | (1.1) | (8.3) |
Accumulated other comprehensive loss, net of tax | (563.6) | (647.7) |
Retained earnings | 1,135.5 | 1,060.7 |
Total shareholders’ equity | 4,538.1 | 4,359.8 |
Nonredeemable noncontrolling interests | 0.2 | 2.8 |
Total equity | 4,538.3 | 4,362.6 |
Total liabilities, redeemable noncontrolling interests and equity | 6,496.6 | 6,237.8 |
Variable Interest Entity, Primary Beneficiary [Member] | ||
Current assets: | ||
Cash and cash equivalents | 15.7 | 14.1 |
Investments | 382.4 | 334.3 |
Other current assets | 7.8 | 3.6 |
Current liabilities: | ||
Accounts payable and accrued liabilities | $ 3.2 | $ 4.3 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2023 | Dec. 31, 2022 |
Common stock, par value (in dollars per share) | $ 1.5 | $ 1.5 |
Common stock, shares authorized (in shares) | 480,000,000 | 480,000,000 |
Common stock, shares issued (in shares) | 163,338,035 | 165,657,905 |
Common stock, shares outstanding (in shares) | 163,338,035 | 165,657,905 |
Treasury shares (in shares) | 41,444 | 312,469 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Operating revenues | $ 2,101.8 | $ 2,203.6 | $ 2,767 |
Operating expenses: | |||
Employee compensation and benefits | 593.3 | 611.5 | 693.3 |
Total long-term incentive compensation expense | 167.4 | 180.7 | 181 |
Distribution expenses | 455.9 | 498.3 | 554.1 |
Investment administration | 47.4 | 49.4 | 51.6 |
Marketing | 36.6 | 27.1 | 31.7 |
General, administrative and occupancy | 294.6 | 279.3 | 271.8 |
Impairment of intangible assets | 0 | 35.8 | 121.9 |
Depreciation and amortization | 22.9 | 31.7 | 40.7 |
Total operating expenses | 1,618.1 | 1,713.8 | 1,946.1 |
Operating income | 483.7 | 489.8 | 820.9 |
Interest expense | (12.7) | (12.6) | (12.8) |
Investment gains (losses), net | 43.4 | (113.3) | 0.8 |
Other non-operating income, net | 12.6 | 11.5 | 8.8 |
Total income before taxes | 527 | 375.4 | 817.7 |
Income tax provision | (100.3) | (100.9) | (205.3) |
Net income | 426.7 | 274.5 | 612.4 |
Net loss (income) attributable to noncontrolling interests | (34.7) | 97.9 | 7.6 |
Net income attributable to JHG | $ 392 | $ 372.4 | $ 618.5 |
Earnings per share attributable to JHG common shareholders: | |||
Basic (in dollars per share) | $ 2.37 | $ 2.23 | $ 3.59 |
Diluted (in dollars per share) | $ 2.37 | $ 2.23 | $ 3.57 |
Other comprehensive income (loss), net of tax: | |||
Foreign currency translation gains (losses) | $ 101.5 | $ (225.1) | $ (50.1) |
Actuarial losses | (14.3) | (37.6) | (22.4) |
Other comprehensive income (loss), net of tax | 87.2 | (262.7) | (72.5) |
Other comprehensive loss (income) attributable to noncontrolling interests | (3.1) | 2 | 0.4 |
Other comprehensive income (loss) attributable to JHG | 84.1 | (260.7) | (72.1) |
Total comprehensive income | 513.9 | 11.8 | 539.9 |
Total comprehensive loss (income) attributable to noncontrolling interests | (37.8) | 99.9 | 8 |
Total comprehensive income attributable to JHG | 476.1 | 111.7 | 547.9 |
Investment Advice [Member] | |||
Operating revenues | 1,700.1 | 1,799.4 | 2,189.4 |
Investment Performance [Member] | |||
Operating revenues | 5.1 | (10.7) | 102.7 |
Shareholder Service [Member] | |||
Operating revenues | 213.3 | 224 | 260.7 |
Product and Service, Other [Member] | |||
Operating revenues | $ 183.3 | $ 190.9 | $ 214.2 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Operating activities: | |||
Net income | $ 426.7 | $ 274.5 | $ 612.4 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 22.9 | 31.7 | 40.7 |
Impairment of intangible assets | 0 | 35.8 | 121.9 |
Deferred income taxes | (6.1) | (14.3) | (2.2) |
Stock-based compensation plan expense | 77.4 | 90.6 | 68.2 |
Loss on sale of Intech | 0 | 9.1 | 0 |
Provision for credit losses and contingent consideration adjustments | 23.7 | 0 | 0 |
Investment losses (gains), net | (43.4) | 113.3 | (0.8) |
Contributions to pension plans in excess of costs recognized | (3.4) | 0.9 | 1.2 |
Other, net | (5.7) | (9.1) | (8.4) |
Changes in operating assets and liabilities: | |||
OEIC and unit trust receivables and payables | (3.2) | (0.7) | 1 |
Other assets | (25.2) | 41.6 | (44.5) |
Other accruals and liabilities | (22.1) | (100.1) | 105.9 |
Net operating activities | 441.6 | 473.3 | 895.4 |
Investing activities: | |||
Investments, net | (59.7) | 44.6 | (177.1) |
Property, equipment and software | (10.8) | (17.6) | (10.4) |
Investments by consolidated seeded investment products, net | (224.9) | (43.9) | (97.4) |
Cash received (paid) on settled seed capital hedges, net | (37.5) | 75.9 | (27) |
Dividends received from equity-method investments | 0.7 | 0.5 | 1.2 |
Long-term note with Intech | 3.1 | (15.9) | 0 |
Proceeds from sale of subsidiaries | 0 | 14.9 | 0 |
Receipt of contingent consideration payments from sale of subsidiaries | 0.2 | 0 | 27.4 |
Net investing activities | (328.9) | 58.5 | (283.3) |
Financing activities: | |||
Proceeds from stock-based compensation plans | 3 | 4.3 | 12.5 |
Purchase of common stock for stock-based compensation plans | (57.4) | (113.8) | (71.8) |
Purchase of common stock for the share buyback program and from Dai-ichi Life | (61.9) | (98.9) | (372.1) |
Dividends paid to shareholders | (258.7) | (259.4) | (256) |
Revolving credit facility issuance costs | (1.1) | 0 | 0 |
Distributions to noncontrolling interests | (2.6) | (1) | (0.5) |
Third-party capital invested into consolidated seeded investment products, net | 227.2 | 51.1 | 100.3 |
Principal payments under capital lease obligations | (0.4) | (1.4) | (0.5) |
Net financing activities | (151.9) | (419.1) | (588.1) |
Cash and cash equivalents: | |||
Effect of foreign exchange rate changes | 30.9 | (54.9) | (13.5) |
Net change | (8.3) | 57.8 | 10.5 |
At beginning of period | 1,176.4 | 1,118.6 | 1,108.1 |
At end of period | 1,168.1 | 1,176.4 | 1,118.6 |
Supplemental cash flow information: | |||
Cash paid for interest | 14.6 | 14.6 | 14.6 |
Cash paid for income taxes, net of refunds | 104.3 | 140.7 | 217.6 |
Reconciliation of cash and cash equivalents: | |||
Total cash and cash equivalents | 1,168.1 | 1,176.4 | 1,118.6 |
Consolidated Entity, Excluding VIE [Member] | |||
Reconciliation of cash and cash equivalents: | |||
Total cash and cash equivalents | 1,152.4 | 1,162.3 | 1,107.3 |
Variable Interest Entity, Primary Beneficiary [Member] | |||
Reconciliation of cash and cash equivalents: | |||
Total cash and cash equivalents | $ 15.7 | $ 14.1 | $ 11.3 |
Consolidated Statements of Chan
Consolidated Statements of Changes In Equity - 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, 2020 | 180.4 | ||||||
Balance at Dec. 31, 2020 | $ 270.6 | $ 3,815 | $ (107.3) | $ (314.9) | $ 1,030.8 | $ 17.4 | $ 4,711.6 |
Net income (loss) | 0 | 0 | 0 | 0 | 620 | (1.5) | 618.5 |
Other comprehensive loss | 0 | 0 | 0 | (72.1) | 0 | 0 | (72.1) |
Dividends paid to shareholders | $ 0 | 0 | 0 | (256.1) | 0 | (256) | |
Dividends paid to shareholders | 0.1 | ||||||
Share buyback program (in shares) | (11.4) | ||||||
Share buyback program | $ (17) | (355.1) | |||||
Share buyback program | 0 | 0 | 0 | 0 | (372.1) | ||
Distributions to noncontrolling interests | 0 | 0 | 0 | 0 | 0 | (0.5) | (0.5) |
Fair value adjustments to redeemable noncontrolling interests | 0 | 0 | 0 | 0 | 0.6 | 0 | 0.6 |
Purchase of common stock for stock-based compensation plans | 0 | (70.3) | (1.5) | 0 | 0 | 0 | (71.8) |
Vesting of stock-based compensation plans | 0 | (53.7) | 53.7 | 0 | 0 | 0 | 0 |
Stock-based compensation plan expense | 0 | 68.2 | 0 | 0 | 0 | 0 | 68.2 |
Proceeds from stock-based compensation plans | 0 | 12.5 | 0 | 0 | 0 | 0 | 12.5 |
Dividends paid to shareholders | 0.1 | ||||||
Other comprehensive income | $ 0 | 0 | 0 | (72.1) | 0 | 0 | (72.1) |
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 (loss) | 0 | 0 | 0 | 0 | 372.4 | 0 | 372.4 |
Other comprehensive loss | 0 | 0 | 0 | (260.7) | 0 | 0 | (260.7) |
Dividends paid to shareholders | $ 0 | 0 | 0 | (259.5) | 0 | (259.4) | |
Dividends paid to shareholders | 0.1 | ||||||
Share buyback program (in shares) | (3.3) | ||||||
Share buyback program | $ (5.1) | (93.8) | |||||
Share buyback program | 0 | 0 | 0 | 0 | (98.9) | ||
Distributions to noncontrolling interests | 0 | 0 | 0 | 0 | 0 | (1) | (1) |
Fair value adjustments to redeemable noncontrolling interests | 0 | 0 | 0 | 0 | 1.4 | 0 | 1.4 |
Purchase of common stock for stock-based compensation plans | 0 | (105) | (8.8) | 0 | 0 | 0 | (113.8) |
Vesting of stock-based compensation plans | 0 | (55.2) | 55.6 | 0 | 0 | 0 | 0.4 |
Stock-based compensation plan expense | 0 | 90.6 | 0 | 0 | 0 | 0 | 90.6 |
Proceeds from stock-based compensation plans | 0 | 4.3 | 0 | 0 | 0 | 0 | 4.3 |
Dividends paid to shareholders | 0.1 | ||||||
Sale of Intech | 0 | 0 | 0 | 0 | 0 | (11.6) | (11.6) |
Other comprehensive income | $ 0 | 0 | 0 | (260.7) | 0 | 0 | (260.7) |
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 (loss) | 0 | 0 | 0 | 0 | 392 | 0 | 392 |
Other comprehensive loss | 0 | 0 | 0 | 84.1 | 0 | 0 | 84.1 |
Dividends paid to shareholders | $ 0 | 0 | 0 | (258.8) | 0 | (258.7) | |
Dividends paid to shareholders | 0.1 | ||||||
Share buyback program (in shares) | (2.4) | ||||||
Share buyback program | $ (3.5) | (58.4) | |||||
Share buyback program | 0 | 0 | 0 | 0 | (61.9) | ||
Distributions to noncontrolling interests | 0 | 0 | 0 | 0 | 0 | (2.6) | (2.6) |
Purchase of common stock for stock-based compensation plans | 0 | (56.4) | (1) | 0 | 0 | 0 | (57.4) |
Vesting of stock-based compensation plans | 0 | (8.4) | 8.2 | 0 | 0 | 0 | (0.2) |
Stock-based compensation plan expense | 0 | 77.4 | 0 | 0 | 0 | 0 | 77.4 |
Proceeds from stock-based compensation plans | 0 | 3 | 0 | 0 | 0 | 0 | 3 |
Dividends paid to shareholders | 0.1 | ||||||
Other comprehensive income | $ 0 | 0 | 0 | 84.1 | 0 | 0 | 84.1 |
Balance (in shares) at Dec. 31, 2023 | 163.3 | ||||||
Balance at Dec. 31, 2023 | $ 245 | $ 3,722.3 | $ (1.1) | $ (563.6) | $ 1,135.5 | $ 0.2 | $ 4,538.3 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes In Equity (Parentheticals) - $ / shares | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Dividends paid (in dollars per share) | $ 1.56 | $ 1.55 | $ 1.5 |
Note 1 - Description of the Bus
Note 1 - Description of the Business | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | N ote 1 D escription of the B usiness As used herein, “JHG,” “we,” “us,” “our” and similar terms refer to Janus Henderson Group plc and its subsidiaries, unless indicated otherwise. JHG is an independent global asset manager, specializing in active investment across all major asset classes. We actively manage a broad range of investment products for institutional and retail investors across four JHG is a public limited company incorporated in Jersey, Channel Islands, and is tax-resident and domiciled in the UK. Our common stock is traded on the NYSE. On November 1, 2023, December 6, 2023, |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | N ote 2 S ummary of S ignificant A ccounting P olicies Basis of Presentation Our consolidated financial statements have been prepared according to U.S. GAAP and include all majority-owned subsidiaries and consolidated seeded investment products. Intercompany accounts and transactions have been eliminated in consolidation. Events subsequent to the balance sheet date have been evaluated for inclusion in the accompanying consolidated financial statements through the issuance date. Recent Accounting Pronouncements In November 2023, 2023 07, 280 2023 07 January 1, 2024, January 1, 2025. not In December 2023, 2023 09, 740 2023 09 January 1, 2025. not Accounting Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates, and the differences could be material. Our significant estimates relate to investments, goodwill and intangible assets, retirement benefit assets and obligations, and income taxes. Segment Information We are a global asset manager and manage a range of investment products, operating across various product lines, distribution channels and geographic regions. However, resources are allocated and the business is managed by the chief operating decision-maker, the CEO, on an aggregated basis. Strategic and financial management decisions are determined centrally by the CEO and, on this basis, we operate as a single-segment investment management business. Consolidation of Investment Products We perform periodic consolidation analyses of our seeded investment products to determine if the product is a VIE or a VRE. Factors considered in this assessment include the product’s legal organization, the product’s capital structure and equity ownership, and any de facto agent implications of our involvement with the product. Investment products that are determined to be VIEs are consolidated if we are the primary beneficiary of the product. VREs are consolidated if we hold the majority voting interest. Upon the occurrence of certain events (such as contributions and redemptions, either by JHG or third no Variable Interest Entities Certain investment products for which a controlling financial interest is achieved through arrangements that do not not not We consolidate a VIE if we are the VIE’s primary beneficiary. The primary beneficiary of a VIE is defined as the variable interest holder that has a controlling financial interest in the VIE. A controlling financial interest is defined as (i) the power to direct the activities of the VIE that most significantly impact its economic performance and (ii) the obligation to absorb losses of the product or the right to receive benefits from the product that potentially could be significant to the VIE. We are the manager of various types of seeded investment products, which may VIEs are generally subject to consolidation by us when we hold an economic interest of greater than 9% and we deconsolidate such VIEs once equity ownership equals or falls below 9%. VIEs are subject to specific disclosure requirements. Voting Rights Entities We consolidate seeded investment products accounted for as VREs when we are considered to control such products, which generally exists if we have a greater than 50% Property, Equipment and Software Property, equipment and software are recorded at cost. Depreciation is recorded using the straight-line method over the estimated useful life of the related assets (or the lease term, if shorter). Computer software is recorded at cost and depreciated over its estimated useful life. Internal and external costs incurred in connection with researching or obtaining computer software for internal use are expensed as incurred during the preliminary project stage, as are post-implementation training and maintenance costs. Internal and external costs incurred for internal use software during the application development stage are capitalized until such time that the software is substantially complete and ready for its intended use. Application development stage costs are depreciated on a straight-line basis over the estimated useful life of the software. An impairment loss is recognized if the carrying value of the asset exceeds the fair value of the asset. The amount of the impairment loss is equal to the excess of the carrying amount over the fair value. The evaluation is based on an estimate of the future cash flows expected to result from the use of the asset and its eventual disposal. If expected future undiscounted cash flows are less than the carrying amount of the asset, an impairment loss is recognized in an amount equal to the excess of the carrying amount of the asset over the fair value of the asset. There were no December 31, 2023, 2022 2021 Cloud Computing Arrangements Costs paid to vendors for third Debt Long-term debt consists of senior notes and is stated at amortized cost using the effective interest rate method. Amortized cost is calculated by taking into account any issuance costs and any discount or premium on settlement. Debt will cease to be recognized when the obligation under the liability has been discharged or cancelled or has expired. Investments Seeded Investment Products We periodically add new investment strategies to our investment product offerings by providing the initial cash investment (“seed capital”). The primary purpose of seed capital is to generate an investment performance track record in a product to attract third not third not may third Refer to the Consolidation of Investment Products section in this note for information regarding the consolidation of certain seeded investment products. We may third Investments in Advised Mutual Funds and Investments Related to the Economic Hedging of Deferred Compensation We grant mutual fund share awards to employees that are indexed to certain funds managed by us. Upon vesting, participants receive the value of the mutual fund share awards adjusted for gains or losses attributable to the mutual funds to which the award was indexed, subject to tax withholding, or participants receive shares in the mutual fund. When investments in our fund products are purchased and held against deferred compensation liabilities, any movement in the fair value of the assets and corresponding movements in the deferred compensation liability are recognized within the Consolidated Statements of Comprehensive Income. We maintain deferred compensation plans for certain highly compensated employees and members of the Board of Directors. Eligible participants may no Equity Method Investments Our investment in equity method investees, where we do not 20% 50% Investments are initially recognized at cost when purchased for cash or at the fair value of shares received where acquired as part of a wider transaction. The investments are subsequently carried at cost adjusted for our share of net income or loss and other changes in comprehensive income of the equity method investee, less any dividends or distributions received by us. The Consolidated Statements of Comprehensive Income includes our share of net income or loss for the year, or period of ownership, if shorter, within investment gains (losses), net. Trade Receivables Trade receivables are initially recognized at fair value, which is normally equivalent to the invoice amount. When the time value of money is material, the fair value is discounted. Provision for specific doubtful accounts is made when there is evidence that we may not OEIC and Unit Trust Receivables and Payables OEIC and unit trust receivables and payables are in relation to the purchase of units/shares (by investors) and the liquidation of units/shares (owned by trustees). The amounts are dependent on the level of trading and fund switches in the four Cash and Cash Equivalents Cash and cash equivalents primarily consist of cash held at banks, on-demand deposits, investments in money market instruments, highly liquid short-term debt securities and commercial paper with a maturity date of three not not Derivative Instruments We may, not Derivative instruments are measured at fair value and classified as either other current assets or accounts payable and accrued liabilities in our Consolidated Balance Sheets. Changes in the fair value of derivative instruments are recorded within investment gains (losses), net in our Consolidated Statements of Comprehensive Income. Our consolidated seed investments may Leases We determine if an arrangement is a lease at inception. Operating lease right-of-use (“ROU”) assets are included in other non-current assets within our Consolidated Balance Sheets. The current and non-current portions of operating lease liabilities are included within accounts payable and accrued liabilities and within other non-current liabilities, respectively. Finance lease ROU assets are included within property, equipment and software, net. The current and non-current portions of finance lease liabilities are included within accounts payable and accrued liabilities and within other non-current liabilities, respectively. ROU assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not may Nonredeemable Noncontrolling Interests and Redeemable Noncontrolling Interests Nonredeemable noncontrolling interests that are not Fair Value Measurements Fair value is the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. The fair value of financial instruments traded in active markets (such as publicly traded securities and derivatives) is based on quoted market prices at the reporting date. The quoted market price used for financial instruments is the last traded market price for both financial assets and financial liabilities where the last traded price falls within the bid ask spread. In circumstances where the last traded price is not not Measurements of fair value are classified within a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value based on whether the inputs to those valuation techniques are observable or unobservable. The valuation hierarchy contains three ● Level 1 ● Level 2 not ● Level 3 The valuation of an asset or liability may one Level 1 Our Level 1 Level 2 Our Level 2 2 Level 3 Our assets and liabilities measured at Level 3 Details of inputs used to calculate the fair value of contingent deferred consideration can be found in Note 10 8, Nonrecurring Fair Value Measurements Nonrecurring Level 3 3. Income Taxes We provide for current tax expense according to the tax laws in each jurisdiction in which we operate, using tax rates and laws that have been enacted by the balance sheet date. Deferred income tax assets and liabilities are recorded for temporary differences between the financial statement and income tax basis of assets and liabilities as measured by the enacted income tax rates that may We periodically assess the recoverability of our deferred tax assets and the need for valuation allowances on these assets. We make these assessments based on the weight of available evidence regarding possible sources of future taxable income and estimates relating to the future performance of the business that results in taxable income. In evaluating uncertain tax positions, we consider the probability that the tax benefit can be sustained on examination by a taxing authority on the basis of its technical merits (“the recognition threshold”). For tax positions meeting this threshold, the amount recognized within the financial statements is the benefit expected to be realized upon settlement with the taxing authority on the basis of a cumulative-probability assessment of the possible outcomes. For tax positions not no Revenue Recognition Revenue is determined based on the transaction price negotiated with the customer, net of rebates. Management fees, performance fees, shareowner servicing fees and other revenue are derived from providing professional services to manage investment products. Management fees are earned over time as services are provided and are generally based on a percentage of the market value of AUM. These fees are calculated as a percentage of either the daily, month-end or quarter-end average asset balance in accordance with contractual agreements. Performance fees are specified in certain fund and client contracts and are based on investment performance either on an absolute basis or compared to an established index over a specified period of time. Performance fees are generated on certain management contracts when performance hurdles or other specified criteria are achieved. Performance fees for all fund ranges and other investment products are recognized when it is probable that a significant reversal of revenue recognized will not no no Management fees are primarily earned monthly or quarterly, while performance fees are usually earned monthly, quarterly or annually, although the frequency of receipt varies between agreements. Management and performance fee revenue earned but not Shareowner servicing fees are earned for services rendered related to transfer agent and administrative activities performed for investment products. These services are transferred over time and are generally based on a percentage of the market value of AUM. Other revenue includes distribution and servicing fees earned from U.S. mutual funds associated with mutual fund transfer agent, accounting, shareholder servicing and participant recordkeeping activities. These services are transferred over time and are generally based on a percentage of the market value of AUM. U.S. Mutual Fund Performance Fees The investment management fee paid by each U.S. mutual fund subject to a performance fee is the base management fee plus or minus a performance fee adjustment as determined by the relative investment performance of the fund compared to a specified benchmark index. Under the performance-based fee structure, the investment advisory fee paid by each fund consists of two The addition of performance fees to all funds without such fees is subject to the approval of both a majority of the shareholders of such funds and the funds’ independent board of trustees. Principal Versus Agent We use third third third third Operating Expenses Operating expenses are accrued and recognized as incurred. Stock-Based Compensation We grant stock-based awards to certain employees, all of which are classified as equity settled stock-based payments. Equity settled stock-based payments are measured at the fair value of the shares at the grant date. The awards are expensed, with a corresponding increase in equity, on a graded basis over the vesting period. Forfeitures are recognized as they occur. The grant date fair value for stock options is determined using the Black-Scholes option pricing model, and the grant date fair value of restricted stock is determined from the market price on the date of grant. The Black-Scholes model requires management to determine certain variables; the assumptions used in the Black-Scholes option pricing model include dividend yield, expected volatility, risk-free interest rate and expected life. The dividend yield and expected volatility are determined using historical Company data. The risk-free interest rate for options granted is based on the three three We generally use the Monte Carlo model to determine the fair value of performance-based awards with market conditions. The assumptions used in the Monte Carlo model include dividend yield, share price volatility and discount rate. Commissions Commissions on management fees are accounted for on an accrual basis and are recognized in the accounting period in which the associated management fee is earned. Earnings Per Share Basic earnings per share attributable to our shareholders is calculated by dividing net income (adjusted for the allocation of earnings to participating restricted stock awards) by the weighted-average number of shares outstanding. We have calculated earnings per share using the two two Diluted earnings per share is calculated in a similar way to basic earnings per share but is adjusted for the effect of potential common shares unless they are anti-dilutive. Goodwill and Intangible Assets Goodwill represents the excess of cost over the fair value of the identifiable net assets of acquired companies and is capitalized within the Consolidated Balance Sheets. Intangible assets consist primarily of investment management contracts and trademarks acquired as part of business combinations. Investment management contracts have been identified as separately identifiable intangible assets arising on the acquisition of subsidiaries or businesses. Such contracts are recognized at the present value of the expected future cash flows of the investment management contracts at the date of acquisition. Investment management contracts may Indefinite-lived intangible assets comprise investment management agreements where the agreements are with investment companies themselves and not not Definite-lived client relationships are amortized on a straight-line basis over their remaining useful lives. Goodwill and indefinite-lived intangible assets are reviewed for impairment annually or more frequently if changes in circumstances indicate that the carrying value may may not may first Goodwill and intangible assets require significant management estimates and judgment, including the valuation and expected life determination upon inception and the ongoing evaluation for impairment. Foreign Currency Transactions in foreign currencies are recorded at the appropriate exchange rate prevailing at the date of the transaction. Foreign currency monetary balances at the reporting date are converted at the prevailing exchange rate. Foreign currency non-monetary balances carried at fair value or cost are translated at the rates prevailing at the date when the fair value or cost is determined. Gains and losses arising on retranslation are recognized as a component of other comprehensive income. On consolidation, the assets and liabilities of our operations for which the functional currency is not Post-Employment Retirement Benefits We provide employees with retirement benefits through both defined benefit and defined contribution plans. The assets of these plans are held separately from our general assets in trustee-administered funds. Contributions to the defined contribution plan are expensed to employee compensation and benefits on the Consolidated Statements of Comprehensive Income when they become payable. Defined benefit obligations and the cost of providing benefits are determined annually by independent qualified actuaries using the projected unit credit method. Our annual measurement date of the defined benefit plan is December 31. Actuarial gains and losses arise as a result of the difference between actual experience and actuarial assumptions. We have adopted the 10% 10% no no Net periodic benefit cost is recorded as a component of net income within the Consolidated Statements of Comprehensive Income and includes service cost, interest cost, expected return on plan assets and any actuarial gains and losses previously recognized as a component of other comprehensive income that have been amortized in the period. Net periodic benefit costs, with the exception of service costs, are recognized within other non-operating income, net on the Consolidated Statements of Comprehensive Income; service costs are recognized within employee compensation and benefits. Common Stock JHG’s ordinary shares, par value $1.50 per share, are classified as equity instruments. Equity shares issued by us are recorded at the fair value of the proceeds received or the market price on the day of issue. Direct issue costs, net of tax, are deducted from additional paid-in-capital within equity. Treasury shares held are equity shares of JHG acquired by or issued to employee benefit trusts. Treasury shares held are recorded at cost and are deducted from equity. No |
Note 3 - Dispositions
Note 3 - Dispositions | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | N ote 3 Dispositions Management-Led Buyout of Quantitative Equities Subsidiary Intech On February 3, 2022, March 31, 2022, seventh The terms of the transaction also included a $20.0 million seven two first second December 31, 2023 second not December 31, 2023 December 31, 2023, nil. Geneva On December 3, 2019, March 17, 2020. Consideration included aggregate cash consideration of $38.4 million and contingent consideration (“Earnout”) based on future revenue. Payments under the Earnout are to be made quarterly over a five December 31, 2021 In November 2021, December 31, 2022 |
Note 4 - Consolidation
Note 4 - Consolidation | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Variable Interest Entities Voting Rights Entities Consolidation Disclosure [Text Block] | Note 4 Consolidation Variable Interest Entities Consolidated Variable Interest Entities Our consolidated VIEs as of December 31, 2023 2022 not may not, third no Unconsolidated Variable Interest Entities The following table presents the carrying value of investments included in our Consolidated Balance Sheets pertaining to unconsolidated VIEs as of December 31, 2023 2022 December 31, December 31, 2023 2022 Unconsolidated VIEs $ 17.2 $ 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 VREs that were recorded in our Consolidated Balance Sheets, including our net interest in these products, as of December 31, 2023 2022 December 31, December 31, 2023 2022 Investments $ 242.9 $ 206.0 Cash and cash equivalents 6.5 5.8 Other current assets 21.6 1.8 Accounts payable and accrued liabilities (1.1 ) (1.0 ) Total $ 269.9 $ 212.6 Redeemable noncontrolling interests in consolidated VREs (100.9 ) (35.1 ) JHG’s net interest in consolidated VREs $ 169.0 $ 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 investments included in our Consolidated Balance Sheets pertaining to unconsolidated VREs as of December 31, 2023 2022 December 31, December 31, 2023 2022 Unconsolidated VREs $ 9.9 $ 3.4 Our total exposure to unconsolidated VREs represents the value of our economic ownership interest in the investments. |
Note 5 - Investments
Note 5 - Investments | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Investment [Text Block] | N ote 5 I nvestments Our investments as of December 31, 2023 2022 December 31, December 31, 2023 2022 Current investments: Seeded investment products: Consolidated VIEs $ 382.4 $ 334.3 Consolidated VREs 242.9 206.0 Unconsolidated VIEs and VREs 27.1 4.9 Separately managed accounts 44.1 29.7 Total seeded investment products 696.5 574.9 Investments related to deferred compensation plans 12.0 10.7 Other investments 8.1 10.3 Total current investments $ 716.6 $ 595.9 Non-current investments: Equity method investments 29.5 18.7 Total investments $ 746.1 $ 614.6 Investment Gains (Losses), Net Investment gains (losses), net in our Consolidated Statements of Comprehensive Income included the following for the years ended December 31, 2023, 2022 2021 Year ended December 31, 2023 2022 2021 Seeded investment products and hedges, net $ 20.3 $ (15.2 ) $ 2.0 Third-party ownership interests in seeded investment products 34.7 (97.9 ) (8.0 ) Equity method investments (13.5 ) 2.9 3.0 Other 1.9 (3.1 ) 3.8 Investment gains (losses), net $ 43.4 $ (113.3 ) $ 0.8 Investment gain (losses), net for the year ended December 31, 2023 Net unrealized gains (losses), excluding noncontrolling interests, on seeded investments products and associated derivative instruments still held at period end for the years ended December 31, 2023, 2022 2021 Gains and losses attributable to third not Equity Method Investments Our equity method investment (other than investments in seeded investment products) includes Privacore Capital (“Privacore”). On June 1, 2023, January 1, 2025, 60 not 99% not 1% Cash Flows Cash flows related to our investments for the years ended December 31, 2023, 2022 2021 Year ended December 31, 2023 2022 2021 Purchases Sales, Purchases Sales, Purchases Sales, and settlements and Net and settlements and Net and settlements and Net settlements maturities cash flow settlements maturities cash flow settlements maturities cash flow Investments by consolidated seeded investment products $ (227.3 ) $ 2.4 $ (224.9 ) $ (88.4 ) $ 44.5 $ (43.9 ) $ (100.4 ) $ 3.0 $ (97.4 ) Investments (180.6 ) 120.9 (59.7 ) (143.1 ) 187.7 44.6 (303.0 ) 125.9 (177.1 ) |
Note 6 - Derivative Instruments
Note 6 - Derivative Instruments | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | N ote 6 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 December 31, 2023 2022 Notional value December 31, 2023 December 31, 2022 Futures $ 1,018.0 $ 196.8 Credit default swaps 199.7 115.1 Total return swaps 51.8 37.2 Foreign currency forward contracts and swaps 176.2 131.7 The derivative instruments are not December 31, 2023, 2022 2021 Year ended December 31, 2023 2022 2021 Futures $ (7.0 ) $ 40.8 $ (24.6 ) Credit default swaps (6.5 ) 3.7 (1.6 ) Total return swaps (12.8 ) 21.3 (13.3 ) Foreign currency forward contracts and swaps 8.4 (9.6 ) 11.6 Total gains (losses) from derivative instruments $ (17.9 ) $ 56.2 $ (27.9 ) 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 Consolidated Balance Sheets. The derivative assets and liabilities as of December 31, 2023 2022 Fair value December 31, 2023 December 31, 2022 Derivative assets $ 1.8 $ 5.3 Derivative liabilities 16.7 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 certain seed investments. As of December 31, 2023 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 Consolidated Balance Sheets. Gains and losses on these derivative instruments are classified within investment gains (losses), net in our Consolidated Statements of Comprehensive Income. Our consolidated seeded investment products were party to the following derivative instruments as of December 31, 2023 2022 Notional value December 31, 2023 December 31, 2022 Futures $ 1,555.1 $ 141.3 Credit default swaps 13.2 2.2 Total return swaps 0.3 10.4 Interest rate swaps 2.2 — Options — 0.1 Swaptions 3.0 — Foreign currency forward contracts and swaps 135.3 18.3 The majority of the notional value associated with futures contracts is related to a certain hedge fund that uses futures contracts to contribute to the achievement of defined investment objectives. The derivative assets and liabilities as of December 31, 2023 2022 Fair value December 31, 2023 December 31, 2022 Derivative asset $ 6.7 $ 0.1 Derivative liabilities 1.2 0.6 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 December 31, 2023 2022 Notional value December 31, 2023 December 31, 2022 Foreign currency forward contracts and swaps $ 65.3 $ 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 Consolidated Balance Sheets. As of December 31, 2023 2022 Changes in fair value of the derivatives are recognized in other non-operating income, net in our Consolidated Statements of Comprehensive Income. Foreign currency remeasurement is also recognized in other non-operating income, net in our Consolidated Statements of Comprehensive Income. For the years ended December 31, 2023, 2022 2021 |
Note 7 - Property, Equipment an
Note 7 - Property, Equipment and Software | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 7 Property, Equipment and Software The following table presents depreciation expense for the years ended December 31, 2023, 2022 2021 Year ended December 31, 2023 2022 2021 Depreciation expense $ 18.4 $ 21.6 $ 23.5 Property, equipment and software as of December 31, 2023 2022 Depreciation December 31, period 2023 2022 Furniture, fixtures and computer equipment 3 - 10 years $ 50.1 $ 23.9 Leasehold improvements Over the shorter of the useful life or the lease term 47.7 27.6 Computer software 3 - 7 years 103.3 90.6 Property, equipment and software, gross $ 201.1 $ 142.1 Accumulated depreciation (156.9 ) (90.3 ) Property, equipment and software, net $ 44.2 $ 51.8 |
Note 8 - Goodwill and Intangibl
Note 8 - Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | N ote 8 G oodwill and I ntangible A ssets The following tables present movements in our intangible assets and goodwill during years ended December 31, 2023 2022 Foreign December 31, currency December 31, 2022 Amortization Disposal Impairment translation 2023 Indefinite-lived intangible assets: Investment management agreements $ 2,046.5 $ — $ — $ — $ 18.3 $ 2,064.8 Trademarks 360.0 — — — — 360.0 Definite-lived intangible assets: Client relationships 68.9 — (2.6 ) — 2.3 68.6 Accumulated amortization (60.7 ) (1.7 ) 2.6 — (2.3 ) (62.1 ) Net intangible assets $ 2,414.7 $ (1.7 ) $ — $ — $ 18.3 $ 2,431.3 Goodwill $ 1,253.1 $ — $ — $ — $ 37.2 $ 1,290.3 Foreign December 31, currency December 31, 2021 Amortization Disposal Impairment translation 2022 Indefinite-lived intangible assets: Investment management agreements $ 2,114.8 $ — $ — $ (25.9 ) $ (42.4 ) $ 2,046.5 Trademarks 366.7 — (4.7 ) (2.0 ) — 360.0 Definite-lived intangible assets: Client relationships 168.4 — (84.8 ) (7.9 ) (6.8 ) 68.9 Accumulated amortization (107.2 ) (3.7 ) 44.7 — 5.5 (60.7 ) Net intangible assets $ 2,542.7 $ (3.7 ) $ (44.8 ) $ (35.8 ) $ (43.7 ) $ 2,414.7 Goodwill $ 1,341.5 $ — $ (7.0 ) $ — $ (81.4 ) $ 1,253.1 Indefinite-lived intangible assets represent certain investment management contracts where we expect both the renewal of the contracts and the cash flows generated by them to continue indefinitely. Trademarks relate to the Janus brand, which was acquired as a result of the Merger and subsequently rebranded as Janus Henderson. Definite-lived intangible assets represent client relationships, which are amortized over their estimated lives using the straight-line method. The remaining estimated useful life of the client relationships is 15 years. Foreign currency translation movements in the table primarily relate to the translation of the intangible assets and goodwill balances denominated in non-USD currencies to our functional and presentational currency of USD using the closing foreign currency exchange rate at the end of each reporting period. Management Buyout of Intech As detailed in Note 3 8, March 31, 2022, Impairment Assessment Goodwill and indefinite-lived intangible assets are reviewed for impairment annually or more frequently if changes in circumstances indicate that the carrying value may October 1 0 not not no Our definite-lived intangible assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not no Future Amortization Expected future amortization expense related to definite-lived intangible assets is immaterial on an annual basis and in the aggregate is $6.5 million. |
Note 9 - Leases
Note 9 - Leases | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Lease Disclosure [Text Block] | Note 9 Leases Our leases include operating and finance leases for property and equipment. Property leases include office space in the UK, Europe, the U.S. and the Asia Pacific region. Equipment leases include copiers and server equipment located throughout our office space and off-site. Our leases have remaining lease terms of one not not Balance Sheet Operating and financing lease assets and liabilities in our Consolidated Balance Sheets as of December 31, 2023 2022 Operating lease ROU assets: December 31, 2023 December 31, 2022 Other non-current assets $ 69.5 $ 79.7 Operating lease liabilities: Accounts payable and accrued liabilities $ 23.0 $ 23.7 Other non-current liabilities 54.8 67.1 Total operating lease liabilities $ 77.8 $ 90.8 Finance lease ROU assets: Property and equipment, cost $ 0.6 $ 16.3 Accumulated depreciation (0.3 ) (14.2 ) Property and equipment, net $ 0.3 $ 2.1 Finance lease liabilities: Accounts payable and accrued liabilities $ 0.1 $ 0.8 Other non-current liabilities 0.2 1.4 Total finance lease liabilities $ 0.3 $ 2.2 Statement of Comprehensive Income The components of lease expense in our Consolidated Statements of Comprehensive Income during the years ended December 31, 2023, 2022 2021 Year ended Year ended Year ended December 31, 2023 December 31, 2022 December 31, 2021 Operating lease cost (1) $ 22.6 $ 27.5 $ 30.2 Finance lease cost: Amortization of ROU asset (2) $ 0.5 $ 0.8 $ 0.5 ( 1 Included in general, administrative and occupancy in our Consolidated Statements of Comprehensive Income. ( 2 Included in depreciation and amortization in our Consolidated Statements of Comprehensive Income. We sublease certain office buildings in the UK. During the years ended December 31, 2023, 2022 2021 Year ended Year ended Year ended December 31, 2023 December 31, 2022 December 31, 2021 Sublease income $ 4.3 $ 5.9 $ 7.2 For the years ended December 31, 2023, 2022 2021 Supplemental Information Cash payments for operating and finance leases included in our Consolidated Statements of Cash Flows for the years ended December 31, 2023, 2022 2021 Year ended Year ended Year ended December 31, 2023 December 31, 2022 December 31, 2021 Operating cash flows from operating leases $ 29.4 $ 26.9 $ 27.9 Financing cash flows from finance leases $ 0.4 $ 0.9 $ 0.4 Supplemental non-cash lease information for the years ended December 31, 2023, 2022 2021 Year ended Year ended Year ended December 31, 2023 December 31, 2022 December 31, 2021 Increase (decrease) in ROU assets related to modified operating lease liabilities $ 2.7 $ (3.2 ) $ 11.4 The weighted-average remaining lease term, weighted-average discount rate and future lease obligations are summarized below. Year ended Year ended Weighted-average remaining lease term (in months): December 31, 2023 December 31, 2022 Operating leases 51 57 Finance leases 37 38 Year ended Year ended Weighted-average discount rate (1) December 31, 2023 December 31, 2022 Operating leases 2.5 % 4.3 % Finance leases 4.0 % 2.2 % ( 1 Discounted using incremental borrowing rates determined for each lease as of the date of adoption, including consideration for specific interest rate environments. Future lease obligations (in millions) (1) Operating leases 2024 $ 24.1 2025 18.1 2026 14.5 2027 13.4 2028 10.3 Thereafter 1.7 Total lease payments 82.1 Less interest 4.3 Total $ 77.8 (1) The future lease obligations for finance leases are immaterial as of December 31, 2023. On January 31, 2024, we amended our lease agreement associated with our primary office building in Denver, Colorado. The term of the lease was extended for a period of 91 months commencing on February 1, 2025, and expiring on August 31, 2032. |
Note 10 - Fair Value Measuremen
Note 10 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | N ote 10 F air V alue M easurements The following table presents assets and liabilities in our consolidated financial statements or disclosed in the notes to our consolidated financial statements at fair value on a recurring basis as of December 31, 2023 Fair value measurements using: Quoted prices in active Significant markets for other Significant identical assets observable unobservable and liabilities inputs inputs (Level 1) (Level 2) (Level 3) Total Assets: Cash equivalents $ 894.4 $ — $ — $ 894.4 Current investments: Consolidated VIEs 317.6 64.7 0.1 382.4 Other investments 212.2 122.0 — 334.2 Total current investments 529.8 186.7 0.1 716.6 Seed hedge derivatives — 1.8 — 1.8 Derivatives used in consolidated seeded investment products — 6.7 — 6.7 Privacore option agreement — — 1.0 1.0 Total assets $ 1,424.2 $ 195.2 $ 1.1 $ 1,620.5 Liabilities: Derivatives used in consolidated seeded investment products $ — $ 1.2 $ — $ 1.2 Derivatives used in foreign currency hedging program — 0.7 — 0.7 Securities sold, not yet purchased 1.7 — — 1.7 Seed hedge derivatives — 16.7 — 16.7 Long-term debt (1) — 298.0 — 298.0 Deferred bonuses — — 117.6 117.6 Total liabilities $ 1.7 $ 316.6 $ 117.6 $ 435.9 ( 1 Carried at amortized cost in our Consolidated Balance Sheets and disclosed in this table at fair value. The following table presents assets and liabilities in our consolidated financial statements or disclosed in the notes to the consolidated financial statements at fair value on a recurring basis as of December 31, 2022 Fair value measurements using: Quoted prices in active Significant 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 Current investments: Consolidated VIEs 275.4 54.0 4.9 334.3 Other investments 171.9 89.4 0.3 261.6 Total current 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 in our Consolidated Balance Sheets and disclosed in this table at fair value. Level 1 Our Level 1 Level 2 Our Level 2 2 Level 3 Investments As of December 31, 2023 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 December 31, 2023 2022 Year ended December 31, 2023 2022 Beginning of period fair value $ 18.3 $ 8.8 Contingent consideration from sale of subsidiaries — 12.1 Settlement of contingent consideration (0.2 ) — Fair value adjustments (12.1 ) (1.2 ) Transfers from Level 1 0.2 0.3 Transfers to Level 1 (4.8 ) (2.1 ) Purchases of securities — 1.0 Sales of securities (0.3 ) (0.3 ) Foreign currency translation — (0.3 ) End of period fair value $ 1.1 $ 18.3 Changes in fair value of our Level 3 December 31, 2023 2022 Year ended December 31, 2023 2022 Beginning of period fair value $ 46.5 $ 50.5 Fair value adjustments 9.0 (2.1 ) Vesting of deferred bonuses (34.7 ) (36.5 ) Amortization of deferred bonuses 58.6 38.0 Foreign currency translation 2.4 (3.4 ) Additions 35.8 — End of period fair value $ 117.6 $ 46.5 Nonrecurring Fair Value Measurements Nonrecurring Level 3 Refer to Note 8 8, 3. |
Note 11 - Debt
Note 11 - Debt | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | N ote 11 D ebt Our debt as of December 31, 2023 2022 December 31, 2023 December 31, 2022 Carrying Fair Carrying Fair value value value value 4.875% Senior Notes due 2025 $ 304.6 $ 298.0 $ 307.5 $ 295.4 4.875% 2025 The 2025 December 31, 2023 February 1 August 1 August 1, 2025. 2025 December 31, 2023 2025 Credit Facility On June 30, 2023, June 30, 2028, two one first second may 3.00x December 31, 2023 |
Note 12 - Income Taxes
Note 12 - Income Taxes | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | N ote 12 I ncome T axes The components of our provision for income taxes for the years ended December 31, 2023, 2022 2021 Year ended December 31, 2023 2022 2021 Current income taxes: UK $ 15.2 $ 10.5 $ 41.1 U.S., including state and local 88.1 95.9 154.0 International 3.0 8.8 12.4 Total current income taxes 106.3 115.2 207.5 Deferred income taxes: UK (4.0 ) (10.3 ) 29.6 U.S., including state and local (2.0 ) 10.0 (8.7 ) International — (14.0 ) (23.1 ) Total deferred income benefits (6.0 ) (14.3 ) (2.2 ) Total income tax expense $ 100.3 $ 100.9 $ 205.3 The components of our total income before taxes for the years ended December 31, 2023, 2022 2021 Year ended December 31, 2023 2022 2021 UK $ 86.4 $ (44.1 ) $ 217.8 U.S. 423.4 428.7 627.1 International 17.2 (9.2 ) (27.2 ) Total income before taxes $ 527.0 $ 375.4 $ 817.7 We are a tax resident in the UK and a reconciliation is required from the UK statutory rate to the effective tax rate. The following is a reconciliation between the UK statutory corporation tax rate and the effective tax rate on our income from operations for the years ended December 31, 2023, 2022 2021 Year ended December 31, 2023 2022 2021 UK statutory corporation tax rate 23.5 % 19.0 % 19.0 % Effect of foreign tax rates 0.1 6.3 3.5 Equity-based compensation 0.3 0.7 0.1 Tax adjustments 0.5 2.0 0.4 Impact of changes in statutory tax rates on deferred taxes (1.9 ) (1.3 ) 3.6 Taxes applicable to prior years (1.9 ) (4.5 ) (1.4 ) Other, net (1.8 ) — (0.3 ) Effective income tax rate, controlling interest 18.8 % 22.2 % 24.9 % Net loss attributable to noncontrolling interests 0.2 4.7 0.2 Total effective income tax rate 19.0 % 26.9 % 25.1 % We operate in several tax jurisdictions around the world, each with its own statutory tax rate and set of tax laws and regulations. As a result, our future blended average statutory tax rate will be influenced by any changes to such laws and regulations and the mix of profits and losses of our subsidiaries. Tax Legislation Any legislative changes and new or proposed tax regulations may Deferred Taxes The significant components of our deferred tax assets and liabilities as of December 31, 2023 2022 December 31, 2023 2022 Deferred tax assets: Compensation and staff benefits $ 59.8 $ 57.6 Loss carryforwards (1) 88.4 76.7 Accrued liabilities 7.0 6.3 Debt premium 1.3 2.1 Lease liabilities 16.8 19.6 Other 4.0 13.9 Gross deferred tax assets 177.3 176.2 Valuation allowance (76.8 ) (68.3 ) Deferred tax assets, net of valuation allowance $ 100.5 $ 107.9 Deferred tax liabilities: Retirement benefits $ (21.4 ) $ (24.2 ) Goodwill and acquired intangible assets (628.6 ) (631.2 ) Lease ROU assets (16.2 ) (18.9 ) Other (3.5 ) (7.1 ) Gross deferred tax liabilities (669.7 ) (681.4 ) Total deferred tax liabilities (2) $ (569.2 ) $ (573.5 ) ( 1 The majority of the 2023 may ( 2 The change in the net deferred tax liabilities does not Deferred tax assets and liabilities that relate to the same jurisdiction are recorded net on our Consolidated Balance Sheets as non-current balances and as of December 31, 2023 2022 December 31, 2023 2022 Deferred tax assets, net (included in other non-current assets) $ 1.6 $ 1.1 Deferred tax liabilities, net (570.8 ) (574.6 ) Total deferred tax liabilities $ (569.2 ) $ (573.5 ) A valuation allowance has been established against the deferred tax assets related to our tax loss carryforward where a history of losses in the respective tax jurisdiction makes it unlikely that the deferred tax asset will be realized or where it is unlikely that we would generate sufficient taxable income of the appropriate character to realize the full benefit of the deferred tax asset. The valuation allowance for deferred tax assets increased by $6.3 million in 2023 Unrecognized Tax Benefits We operate in several tax jurisdictions and a number of years may December 31, 2023, 2022 2021 Year ended December 31, 2023 2022 2021 Beginning balance $ 26.7 $ 19.2 $ 15.8 Additions for tax positions of current year 6.9 9.7 5.0 Reduction due to settlement with taxing authorities (0.3 ) (1.4 ) (1.2 ) Reduction due to statute expirations (4.6 ) (0.5 ) (0.4 ) Total change due to true up (0.1 ) — — Total removed due to audit payment (0.4 ) — — Foreign currency translation 0.2 (0.3 ) — Ending balance $ 28.4 $ 26.7 $ 19.2 If the balance in the table above is recognized, the balance would favorably affect our effective tax rate in future periods. We recognize interest and penalties on uncertain tax positions as a component of the income tax provision. At December 31, 2023, 2022 2021 December 31, 2023, 2022 2021 not We are subject to U.S. federal income tax, state and local income tax, UK income tax, and income tax in several other jurisdictions, all of which can be examined by the relevant taxing authorities. Significant tax jurisdictions that remain open for examination by the taxing authorities include: ● Tax years 2020 ● Tax years 2019 ● Tax years 2013 It is reasonably possible that the total amounts of unrecognized tax benefits will change within the next 12 12 |
Note 13 - Other Financial State
Note 13 - Other Financial Statement Captions | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Additional Financial Information Disclosure [Text Block] | N ote 13 O ther Financial Statement C aptions Other current assets on our Consolidated Balance Sheets at December 31, 2023 2022 December 31, 2023 2022 Prepaid expenses $ 69.9 $ 42.4 Current corporation tax 26.5 31.1 Derivatives (including collateral and margin) 41.5 22.0 Other current assets 36.6 24.8 Total other current assets $ 174.5 $ 120.3 Other non-current assets on our Consolidated Balance Sheets of $187.6 million and $205.5 million as of December 31, 2023 2022 Accounts payable and accrued liabilities on our Consolidated Balance Sheets at December 31, 2023 2022 December 31, 2023 2022 Accrued distribution commissions $ 58.6 $ 60.9 Accrued rebates 17.2 18.7 Other accrued liabilities 63.6 72.0 Total other accrued liabilities $ 139.4 $ 151.6 Current corporation tax (including interest) 11.9 14.9 Operating and financing leases 23.1 24.5 Derivatives 17.5 5.1 Other current liabilities 39.5 36.5 Total accounts payable and accrued liabilities $ 231.4 $ 232.6 Other non-current liabilities on our Consolidated Balance Sheets at December 31, 2023 2022 December 31, 2023 2022 Non-current tax liabilities (including interest) $ 22.9 $ 23.0 Operating leases 54.8 67.1 Other creditors 9.7 8.7 Total other non-current liabilities $ 87.4 $ 98.8 Other creditors include provisions for retirement obligations of leased office space and deferred compensation for certain members of the board of directors. |
Note 14 - Noncontrolling Intere
Note 14 - Noncontrolling Interests | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Noncontrolling Interest Disclosure [Text Block] | N ote 14 N oncontrolling I nterests Redeemable Noncontrolling Interests Redeemable noncontrolling interests as of December 31, 2023 2022 December 31, 2023 2022 Consolidated seeded investment products $ 317.2 $ 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 seed investment products may third The following table presents the movement in redeemable noncontrolling interests in consolidated seeded investment products for the years ended December 31, 2023, 2022 2021 Year ended December 31, 2023 2022 2021 Opening balance $ 233.9 $ 148.5 $ 70.6 Changes in market value 34.8 (97.9 ) (6.2 ) Changes in ownership 46.5 184.2 84.3 Foreign currency translation 2.0 (0.9 ) (0.2 ) Closing balance $ 317.2 $ 233.9 $ 148.5 |
Note 15 - Long-Term Incentive a
Note 15 - Long-Term Incentive and Employee Compensation | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | N ote 15 L ong -T erm I ncentive C ompensation We operate the following stock and mutual fund-based compensation plans: ● Deferred Incentive Plan (“DIP”); ● Deferred Equity Plan (“DEP”); ● Restricted Stock Awards (“RSAs”); ● Mutual Fund Share Awards (“MFSAs”); and ● Other less significant plans (includes: Restricted Share Plan (“RSP”), Saveshare Plan (“SAYE”), Long-Term Incentive Plan (“LTIP”), Buy As You Earn Share Plan (“BAYE”) and Employee Stock Purchase Plan (“ESPP”)). Further details on the material plans in operation during 2023 Deferred Incentive Plan Starting in 2020 2022 2010 three four December 31, 2023 Performance Share Units (“PSUs”) are issued under the DIP and may may not three The expense of deferred short-term incentive awards is recognized in net income over the period of deferral on a graded basis, the fair value of which is determined by prevailing share price or unit price at grant date. Deferred Equity Plan Prior to the transition to the DIP in 2020, three three The expense of deferred short-term incentive awards is recognized in net income over the period of deferral on a graded basis, the fair value of which is determined by prevailing share price or unit price at grant date. Restricted Stock Awards Prior to the transition to the DIP in 2020, 2010 2005 2012 “2012 three four Mutual Fund Share Awards Prior to the transition to the DIP in 2020, three four Compensation Expense The components of our long-term incentive compensation expense for the years ended December 31, 2023, 2022 2021 Year ended December 31, 2023 2022 2021 DIP $ 70.6 $ 84.0 $ 52.1 DEP — 0.3 2.8 RSA — 1.9 8.8 Other 4.3 4.1 4.2 Stock-based payments expense $ 74.9 $ 90.3 $ 67.9 DIP funds — liability settled 81.5 84.7 71.3 DEP funds — liability settled — 0.6 13.1 MFSA — liability settled 0.8 (1.5 ) 12.9 Profits Interests and Other 0.7 (3.9 ) 2.9 Social Security costs 9.5 10.5 12.9 Total long-term incentive compensation expense $ 167.4 $ 180.7 $ 181.0 Unrecognized and unearned compensation expense based on expected vesting outcomes as of December 31, 2023, including the weighted-average number of years over which the compensation cost will be recognized, is summarized as follows (in millions): Unrecognized Weighted-average compensation years DIP $ 44.1 1.7 Other 2.5 1.3 Stock-based payments expense 46.6 1.7 DIP funds — liability settled 43.3 1.5 Social Security costs 16.8 0.7 Total unrecognized long-term incentive compensation expense $ 106.7 1.5 We generally grant long-term incentive awards in February Stock Options Stock options were granted to employees in 2023 2022 2021 Black-Scholes Option Pricing Model Year ended December 31, 2023 2022 2021 SAYE SAYE SAYE Fair value of options granted £ 6.2 £ 9.25 £ 10.28 Assumptions: Dividend yield 5.89 % 4.27 % 3.68 % Expected volatility 45.33 % 41.82 % 41.37 % Risk-free interest rate 3.47 % 1.43 % 0.17 % Expected life (years) 3.16 3.17 3.00 The table below summarizes our outstanding options, exercisable options and options vested or expected to vest for the years ended December 31, 2023, 2022 2021 2023 2022 2021 Weighted-average Weighted-average Weighted-average Shares price Shares price Shares price Outstanding at January 1 386,584 $ 19.18 492,889 $ 20.83 1,255,398 $ 27.13 Granted 137,019 $ 21.67 127,903 $ 24.83 83,648 $ 23.85 Exercised (201,795 ) $ 14.95 (193,821 ) $ 24.34 (418,292 ) $ 29.04 Forfeited (36,854 ) $ 23.37 (40,387 ) $ 22.78 (427,865 ) $ 36.87 Outstanding at December 31 284,954 $ 22.82 386,584 $ 19.18 492,889 $ 20.83 Exercisable (1) 5,954 $ 8.23 32,710 $ 10.46 92,630 $ 26.62 Vested or expected to vest 284,954 $ 22.82 386,584 $ 19.18 92,630 $ 26.62 ( 1 The number of exercisable options represents instruments for which all vesting criteria have been satisfied and whose exercise price was below the closing price of our common stock as of the end of the period. The following table summarizes the intrinsic value of exercised, outstanding and exercisable options at December 31, 2023, 2022 2021 Year ended December 31, 2023 2022 2021 Exercised $ 2.4 $ 1.3 $ 0.3 Outstanding $ 2.3 $ 2.4 $ 7.4 Exercisable $ 0.1 $ 0.5 $ 1.0 Deferred Incentive Plan, Deferred Equity Plan and Restricted Stock Awards The table below summarizes unvested DIP, DEP and RSA, excluding PSUs detailed separately, for the years ended December 31, 2023, 2022 2021 2023 2022 2021 Weighted-average Weighted-average Weighted-average Shares price Shares price Shares price Unvested at January 1 5,641,839 $ 29.99 4,949,927 $ 26.42 5,602,828 $ 24.56 Granted 2,141,254 $ 27.08 3,581,420 $ 32.44 2,285,257 $ 29.94 Vested (2,669,197 ) $ 27.93 (2,733,825 ) $ 26.29 (2,699,721 ) $ 26.78 Forfeited (229,409 ) $ 29.70 (155,683 ) $ 31.48 (238,437 ) $ 27.37 Unvested at December 31 4,884,487 $ 29.86 5,641,839 $ 29.99 4,949,927 $ 26.42 Performance Share Units The table below summarizes unvested PSUs granted to our CEO and Executive Committee members for the years ended December 31, 2023, 2022 2021 ( 1 2023 2022 2021 Weighted-average Weighted-average Weighted-average Shares price Shares price Shares price Unvested at January 1 50,900 $ 29.38 258,024 $ 24.31 264,695 $ 26.07 Granted 333,389 $ 27.44 - $ - 77,228 $ 29.38 Adjustment to shares granted due to performance measures - $ - 39,837 $ 24.55 (23,996 ) $ 34.52 Vested (50,900 ) $ 29.38 (246,961 ) $ 22.28 (59,903 ) $ 34.52 Forfeited (56,852 ) $ 27.44 - $ - - $ - Unvested at December 31 276,537 $ 27.44 50,900 $ 29.38 258,024 $ 24.31 ( 1 For PSUs granted in 2023, may may not three 2023 three three 2022 2023 June 30, 2022. |
Note 16 - Retirement Benefit Pl
Note 16 - Retirement Benefit Plans | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | N ote 16 Retirement Benefit Plans Defined Contribution Plans We operate two 401 Substantially all of our U.S. full-time employees are eligible to participate in our 401 December 31, 2023 401 Expenses related to our 401 December 31, 2023, 2022 2021 Substantially all of our non-U.S. full-time employees are eligible to participate in our defined contribution plans. The total amounts included in our Consolidated Statements of Comprehensive Income for the years ended December 31, 2023, 2022 2021 Defined Benefit Plans The main defined benefit pension plan sponsored by us is the defined benefit section of the JHGPS, previously the Henderson Group Pension Scheme, which closed to new members on November 15, 1999. Benefits in the defined benefit section of the JHGPS are based on service and final salary. The plan is approved by His Majesty’s Revenue and Customs (“HMRC”) for tax purposes and is operated separately from the Company and managed by an independent trustee board. The trustee is responsible for payment of the benefits and management of the JHGPS assets. We also have a contractual obligation to provide certain members of the JHGPS with additional defined benefits on an unfunded basis. The JHGPS is subject to UK regulations, which require us and the trustee to agree to a funding strategy and contribution schedule for the scheme. Our latest triennial valuation of the JHGPS resulted in a surplus on a technical provisions basis of $2.4 million. Plan Assets and Benefit Obligations The Plan assets and defined benefit obligations of the JHGPS, including money purchase benefits subject to a reference scheme test, and the unapproved pension plan were valued as of December 31, 2023 2022 December 31 2023 2022 Change in plan assets: Fair value of plan assets as of January 1 $ 660.5 $ 1,142.6 Return on plan assets 15.2 (335.0 ) Employer contributions 2.2 2.1 Benefits paid (17.9 ) (15.8 ) Settlements (3.2 ) (9.7 ) Foreign currency translation 39.6 (123.7 ) Fair value of plan assets as of December 31 696.4 660.5 Change in benefit obligation: Benefit obligation as of January 1 (565.6 ) (975.2 ) Interest cost (27.6 ) (16.9 ) Settlements 3.2 9.7 Benefits paid 17.9 15.8 Actuarial (loss)/gain (5.1 ) 295.4 Foreign currency translation (33.9 ) 105.6 Benefit obligation as of December 31 (611.1 ) (565.6 ) Funded status as of year-end 85.3 94.9 Net retirement benefit asset recognized in the Consolidated Balance Sheets $ 85.3 $ 94.9 Actuarial losses during the year ended December 31, 2023 December 31, 2023 The JHGPS contains a money purchase section (“MPS”) that operates in a similar way to a defined contribution plan, but also provides for a minimum benefit to members of the JHGPS if the investment performance of their MPS investments falls below defined thresholds. The minimum benefit is referred to as a reference scheme test (“RST”) underpin. The RST underpin serves as a defined benefit guarantee in the case that investment returns of the MPS do not Amounts recognized on our Consolidated Balance Sheets, net of tax at source, as of December 31, 2023 2022 December 31, 2023 2022 Retirement benefit assets recognized in the Consolidated Balance Sheets: Janus Henderson Group UK Pension Scheme $ 87.6 $ 97.9 Retirement benefit obligations recognized in the Consolidated Balance Sheets: Janus Henderson Group unapproved pension scheme (2.3 ) (3.0 ) Net retirement benefit asset recognized in the Consolidated Balance Sheets $ 85.3 $ 94.9 We used the following key assumptions in determining the defined benefit obligation as of December 31, 2023 2022 December 31, 2023 2022 Discount rate 4.5 % 4.8 % Inflation — Retail Price Index (“RPI”) 3.1 % 3.3 % Inflation — Consumer Price Index (“CPI”) 2.5 % 2.7 % Pension increases (RPI capped at 5% per annum (“p.a.”)) 3.0 % 3.2 % Pension increases (RPI capped at 2.5% p.a.) 2.1 % 2.1 % Life expectancy of male aged 60 at accounting date 29.1 29.4 Life expectancy of male aged 60 in 15 years’ time 30.1 30.3 The discount rate applied to the plan obligations is based on AA-rated corporate bond yields with similar maturities. The Company is aware of a court decision in the UK regarding the validity of certain historical modifications to pension scheme rules, including with regard to benefits. More specifically, the judgment voided certain benefit modifications and the original benefits were reinstated, resulting in increased liabilities for the scheme and ultimately for the sponsoring employer. Although the Company was not may may Plan Assets The fair values of the JHGPS plan assets as of December 31, 2023 2022 December 31, 2023 2022 Cash and cash equivalents $ 19.9 $ 1.8 Money market instruments 7.8 8.0 Bulk annuity policy 240.7 230.7 Fixed income investments 300.6 249.3 Equity investments 127.4 170.7 Total assets at fair value $ 696.4 $ 660.5 As of December 31, 2023 and 2022, $103.4 million and $148.4 million, respectively, of JHGPS assets were held in JHG-managed funds. On September 5, 2019, 43% December 31, 2019. not £328 The remaining assets of the JHGPS plan are allocated to a portfolio of fixed income assets. This portfolio aims to broadly match movements in the value of liabilities caused by changes in interest rates and inflation. Excluding the bulk annuity policy, the strategic asset allocation as of December 31, 2023 December 31, 2022 The following table presents JHGPS plan assets at fair value on a recurring basis as of December 31, 2023 Fair value measurements using: Quoted prices in active markets for identical assets Significant other Significant and liabilities observable inputs unobservable inputs (Level 1) (Level 2) (Level 3) Total Cash and cash equivalents $ 19.9 $ — $ — $ 19.9 Money market instruments 7.8 — — 7.8 Bulk annuity contract — — 240.7 240.7 Fixed income investments 300.6 — — 300.6 Equity investments 127.4 — — 127.4 Total $ 455.7 $ — $ 240.7 $ 696.4 The following table presents JHGPS plan assets at fair value on a recurring basis as of December 31, 2022 Fair value measurements using: Quoted prices in active markets for identical assets Significant other Significant and liabilities observable inputs unobservable inputs (Level 1) (Level 2) (Level 3) Total Cash and cash equivalents $ 1.8 $ — $ — $ 1.8 Money market instruments 8.0 — — 8.0 Bulk annuity contract — — 230.7 230.7 Fixed income investments 249.3 — — 249.3 Equity investments 170.7 — — 170.7 Total $ 429.8 $ — $ 230.7 $ 660.5 The value of the bulk annuity contracts increased from $230.7 million at December 31, 2022 December 31, 2023 The expected rate of return on assets for the financial period ending December 31, 2023 December 31, 2022 2022: Actuarial Gains and Losses Cumulative amounts recognized in accumulated other comprehensive income and the actuarial gain, net of tax deducted at source, credited to other comprehensive income for the years ended December 31, 2023 2022 2023 2022 Opening accumulated unamortized actuarial loss as of January 1 $ (70.4 ) $ (32.8 ) Actuarial loss (18.8 ) (53.1 ) Tax at source on current year actuarial gain 3.5 15.1 Prior service cost 0.5 0.4 Amortization of actuarial loss 0.5 — Closing accumulated unamortized actuarial loss as of December 31 $ (84.7 ) $ (70.4 ) Net Periodic Benefit Cost The components of net periodic benefit cost in respect to defined benefit plans for the years ended December 31, 2023, 2022 2021 December 31, 2023 2022 2021 Service cost $ — $ — $ (0.6 ) Settlement loss — — (1.1 ) Curtailment loss — — (0.3 ) Interest cost (27.6 ) (16.9 ) (13.5 ) Amortization of actuarial loss (0.5 ) — — Amortization of prior service cost (0.4 ) (0.4 ) (0.4 ) Expected return on plan assets 28.7 13.8 11.3 Net periodic benefit credit (cost) 0.2 (3.5 ) (4.6 ) Contributions to money purchase section (11.6 ) (11.5 ) (11.3 ) Total cost $ (11.4 ) $ (15.0 ) $ (15.9 ) The following key assumptions were used in determining the net periodic benefit cost for the years ended December 31, 2023, 2022 2021 December 31, 2023 2022 2021 Discount rate 4.8 % 1.9 % 1.3 % Inflation — salaries N/A N/A 2.5 % Inflation — RPI 3.3 % 3.4 % 2.9 % Inflation — CPI 2.7 % 2.8 % 2.2 % Pension increases (RPI capped at 5% p.a.) 3.2 % 3.3 % 2.9 % Pension increases (RPI capped at 2.5% p.a.) 2.1 % 2.2 % 2.1 % Expected return on plan assets 4.4 % 1.6 % 1.2 % Amortization period for net actuarial gains at beginning of the year 28.0 29.0 9.0 Cash Flows Employer contributions of $2.1 million were paid in relation to our defined benefit pension plans during 2023 December 31, 2024. The expected future benefit payments for our pension plan are as follows (in millions): 2024 $ 22.1 2025 $ 22.4 2026 $ 23.8 2027 $ 24.7 2028 $ 25.1 2029-2033 $ 137.6 |
Note 17 - Accumulated Other Com
Note 17 - Accumulated Other Comprehensive Loss | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | N ote 17 A ccumulated O ther C omprehensive L oss Changes in accumulated other comprehensive loss, net of tax, for the years ended December 31, 2023 2022 Year ended December 31, 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) 96.8 (15.2 ) 81.6 (221.0 ) (38.0 ) (259.0 ) Reclassifications to net income (1) 4.7 0.9 5.6 (4.1 ) 0.4 (3.7 ) Total other comprehensive income (loss) 101.5 (14.3 ) 87.2 (225.1 ) (37.6 ) (262.7 ) Less: other comprehensive loss (income) attributable to noncontrolling interests (3.1 ) — (3.1 ) 2.0 — 2.0 Ending balance $ (478.9 ) $ (84.7 ) $ (563.6 ) $ (577.3 ) $ (70.4 ) $ (647.7 ) ( 1 The components of other comprehensive income (loss), net of tax, for the years ended December 31, 2023, 2022 2021 Pre-tax Tax Year ended December 31, 2023 amount expense Net amount Foreign currency translation adjustments $ 94.4 $ 2.4 $ 96.8 Retirement benefit asset, net (18.7 ) 3.5 (15.2 ) Reclassifications to net income 5.6 — 5.6 Total other comprehensive income $ 81.3 $ 5.9 $ 87.2 Pre-tax Tax Year ended December 31, 2022 amount expense Net amount Foreign currency translation adjustments $ (224.2 ) $ 3.2 $ (221.0 ) Retirement benefit asset, net (46.8 ) 8.8 (38.0 ) Reclassifications to net income (3.7 ) — (3.7 ) Total other comprehensive loss $ (274.7 ) $ 12.0 $ (262.7 ) Pre-tax Tax Year ended December 31, 2021 amount expense Net amount Foreign currency translation adjustments $ (48.2 ) $ 1.3 $ (46.9 ) Retirement benefit asset, net (23.5 ) — (23.5 ) Reclassifications to net income (2.1 ) — (2.1 ) Total other comprehensive loss $ (73.8 ) $ 1.3 $ (72.5 ) |
Note 18 - Earnings and Dividend
Note 18 - Earnings and Dividends Per Share | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Earnings and Dividends Per Share [Text Block] | N ote 18 E arnings and Dividends Per S hare Earnings Per Share The following is a summary of the earnings per share calculation for the years ended December 31, 2023, 2022 2021 Year ended December 31, 2023 2022 2021 Net income attributable to JHG $ 392.0 $ 372.4 $ 620.0 Allocation of earnings to participating stock-based awards (11.2 ) (11.3 ) (17.7 ) Net income attributable to JHG common shareholders $ 380.8 $ 361.1 $ 602.3 Weighted-average common shares outstanding — basic 160.4 161.7 167.9 Dilutive effect of nonparticipating stock-based awards 0.1 0.3 0.6 Weighted-average common shares outstanding — diluted 160.5 162.0 168.5 Earnings per share: Basic $ 2.37 $ 2.23 $ 3.59 Diluted $ 2.37 $ 2.23 $ 3.57 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 for the years ended December 31, 2023, 2022 2021 Year ended December 31, 2023 2022 2021 Dividends paid per share $ 1.56 $ 1.55 $ 1.50 On January 31, 2024 February 28, 2024 February 12, 2024 |
Note 19 - Commitments and Conti
Note 19 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | N ote 19 C ommitments and C ontingencies Commitments and contingencies may December 31, 2023 Operating and Finance Leases As of December 31, 2023 January 31, 2024, 91 February 1, 2025, August 31, 2032. 9 8, 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. |
Note 20 - Related Party Transac
Note 20 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 20 Related Party Transactions Disclosures relating to equity method investments and our pension scheme can be found in Note 5 16 8, not Certain managed funds are considered to be related parties of JHG under the related party guidance. We earn fees from the funds for which we act as investment manager, and the balance sheet includes amount due from these managed funds. During the years ended December 31, 2023, 2022 2021 not The following table reflects amounts in our Consolidated Balance Sheets relating to fees receivable from managed funds as of December 31, 2023 2022 As of December 31, 2023 2022 Accrued income $ 171.6 $ 125.3 Accounts receivable 68.9 80.7 Seed investments held in managed funds are discussed in Note 4 8, |
Note 21 - Geographic Informatio
Note 21 - Geographic Information | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 21 Geographic Information The following table provides our operating revenues by principal geographic area for the years ended December 31, 2023, 2022 2021 Year ended December 31, Operating revenues 2023 2022 2021 U.S. $ 1,304.3 $ 1,324.6 $ 1,634.4 UK 350.4 315.1 639.7 Luxembourg 400.6 512.5 437.2 Australia and other 46.5 51.4 55.7 Total $ 2,101.8 $ 2,203.6 $ 2,767.0 Operating revenues are attributed to countries based on the location in which revenues are earned. The following table provides our long-lived assets by principal geographic area as of December 31, 2023 2022 As of December 31, Long-lived assets 2023 2022 U.S. $ 2,093.9 $ 2,099.8 UK 343.0 326.2 Australia 35.9 37.5 Other 2.7 3.0 Total $ 2,475.5 $ 2,466.5 Long-lived assets include property, equipment, software and intangible assets. As of December 31, 2023 December 31, 2022 |
Insider Trading Arrangements
Insider Trading Arrangements | 12 Months Ended |
Dec. 31, 2023 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | 9B. OTHER INFORMATION None |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Subsequent Events [Policy Text Block] | Basis of Presentation Our consolidated financial statements have been prepared according to U.S. GAAP and include all majority-owned subsidiaries and consolidated seeded investment products. Intercompany accounts and transactions have been eliminated in consolidation. Events subsequent to the balance sheet date have been evaluated for inclusion in the accompanying consolidated financial statements through the issuance date. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In November 2023, 2023 07, 280 2023 07 January 1, 2024, January 1, 2025. not In December 2023, 2023 09, 740 2023 09 January 1, 2025. not |
Use of Estimates, Policy [Policy Text Block] | Accounting Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates, and the differences could be material. Our significant estimates relate to investments, goodwill and intangible assets, retirement benefit assets and obligations, and income taxes. |
Segment Reporting, Policy [Policy Text Block] | Segment Information We are a global asset manager and manage a range of investment products, operating across various product lines, distribution channels and geographic regions. However, resources are allocated and the business is managed by the chief operating decision-maker, the CEO, on an aggregated basis. Strategic and financial management decisions are determined centrally by the CEO and, on this basis, we operate as a single-segment investment management business. |
Consolidation, Policy [Policy Text Block] | Consolidation of Investment Products We perform periodic consolidation analyses of our seeded investment products to determine if the product is a VIE or a VRE. Factors considered in this assessment include the product’s legal organization, the product’s capital structure and equity ownership, and any de facto agent implications of our involvement with the product. Investment products that are determined to be VIEs are consolidated if we are the primary beneficiary of the product. VREs are consolidated if we hold the majority voting interest. Upon the occurrence of certain events (such as contributions and redemptions, either by JHG or third no Variable Interest Entities Certain investment products for which a controlling financial interest is achieved through arrangements that do not not not We consolidate a VIE if we are the VIE’s primary beneficiary. The primary beneficiary of a VIE is defined as the variable interest holder that has a controlling financial interest in the VIE. A controlling financial interest is defined as (i) the power to direct the activities of the VIE that most significantly impact its economic performance and (ii) the obligation to absorb losses of the product or the right to receive benefits from the product that potentially could be significant to the VIE. We are the manager of various types of seeded investment products, which may VIEs are generally subject to consolidation by us when we hold an economic interest of greater than 9% and we deconsolidate such VIEs once equity ownership equals or falls below 9%. VIEs are subject to specific disclosure requirements. Voting Rights Entities We consolidate seeded investment products accounted for as VREs when we are considered to control such products, which generally exists if we have a greater than 50% |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, Equipment and Software Property, equipment and software are recorded at cost. Depreciation is recorded using the straight-line method over the estimated useful life of the related assets (or the lease term, if shorter). Computer software is recorded at cost and depreciated over its estimated useful life. Internal and external costs incurred in connection with researching or obtaining computer software for internal use are expensed as incurred during the preliminary project stage, as are post-implementation training and maintenance costs. Internal and external costs incurred for internal use software during the application development stage are capitalized until such time that the software is substantially complete and ready for its intended use. Application development stage costs are depreciated on a straight-line basis over the estimated useful life of the software. An impairment loss is recognized if the carrying value of the asset exceeds the fair value of the asset. The amount of the impairment loss is equal to the excess of the carrying amount over the fair value. The evaluation is based on an estimate of the future cash flows expected to result from the use of the asset and its eventual disposal. If expected future undiscounted cash flows are less than the carrying amount of the asset, an impairment loss is recognized in an amount equal to the excess of the carrying amount of the asset over the fair value of the asset. There were no December 31, 2023, 2022 2021 |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Cloud Computing Arrangements Costs paid to vendors for third |
Debt, Policy [Policy Text Block] | Debt Long-term debt consists of senior notes and is stated at amortized cost using the effective interest rate method. Amortized cost is calculated by taking into account any issuance costs and any discount or premium on settlement. Debt will cease to be recognized when the obligation under the liability has been discharged or cancelled or has expired. |
Investment, Policy [Policy Text Block] | Investments Seeded Investment Products We periodically add new investment strategies to our investment product offerings by providing the initial cash investment (“seed capital”). The primary purpose of seed capital is to generate an investment performance track record in a product to attract third not third not may third Refer to the Consolidation of Investment Products section in this note for information regarding the consolidation of certain seeded investment products. We may third Investments in Advised Mutual Funds and Investments Related to the Economic Hedging of Deferred Compensation We grant mutual fund share awards to employees that are indexed to certain funds managed by us. Upon vesting, participants receive the value of the mutual fund share awards adjusted for gains or losses attributable to the mutual funds to which the award was indexed, subject to tax withholding, or participants receive shares in the mutual fund. When investments in our fund products are purchased and held against deferred compensation liabilities, any movement in the fair value of the assets and corresponding movements in the deferred compensation liability are recognized within the Consolidated Statements of Comprehensive Income. We maintain deferred compensation plans for certain highly compensated employees and members of the Board of Directors. Eligible participants may no Equity Method Investments Our investment in equity method investees, where we do not 20% 50% Investments are initially recognized at cost when purchased for cash or at the fair value of shares received where acquired as part of a wider transaction. The investments are subsequently carried at cost adjusted for our share of net income or loss and other changes in comprehensive income of the equity method investee, less any dividends or distributions received by us. The Consolidated Statements of Comprehensive Income includes our share of net income or loss for the year, or period of ownership, if shorter, within investment gains (losses), net. |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | Trade Receivables Trade receivables are initially recognized at fair value, which is normally equivalent to the invoice amount. When the time value of money is material, the fair value is discounted. Provision for specific doubtful accounts is made when there is evidence that we may not OEIC and Unit Trust Receivables and Payables OEIC and unit trust receivables and payables are in relation to the purchase of units/shares (by investors) and the liquidation of units/shares (owned by trustees). The amounts are dependent on the level of trading and fund switches in the four |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents primarily consist of cash held at banks, on-demand deposits, investments in money market instruments, highly liquid short-term debt securities and commercial paper with a maturity date of three not not |
Derivatives, Policy [Policy Text Block] | Derivative Instruments We may, not Derivative instruments are measured at fair value and classified as either other current assets or accounts payable and accrued liabilities in our Consolidated Balance Sheets. Changes in the fair value of derivative instruments are recorded within investment gains (losses), net in our Consolidated Statements of Comprehensive Income. Our consolidated seed investments may |
Lessee, Leases [Policy Text Block] | Leases We determine if an arrangement is a lease at inception. Operating lease right-of-use (“ROU”) assets are included in other non-current assets within our Consolidated Balance Sheets. The current and non-current portions of operating lease liabilities are included within accounts payable and accrued liabilities and within other non-current liabilities, respectively. Finance lease ROU assets are included within property, equipment and software, net. The current and non-current portions of finance lease liabilities are included within accounts payable and accrued liabilities and within other non-current liabilities, respectively. ROU assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not may |
Noncontrolling Interests [Policy Text Block] | Nonredeemable Noncontrolling Interests and Redeemable Noncontrolling Interests Nonredeemable noncontrolling interests that are not |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measurements Fair value is the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. The fair value of financial instruments traded in active markets (such as publicly traded securities and derivatives) is based on quoted market prices at the reporting date. The quoted market price used for financial instruments is the last traded market price for both financial assets and financial liabilities where the last traded price falls within the bid ask spread. In circumstances where the last traded price is not not Measurements of fair value are classified within a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value based on whether the inputs to those valuation techniques are observable or unobservable. The valuation hierarchy contains three ● Level 1 ● Level 2 not ● Level 3 The valuation of an asset or liability may one Level 1 Our Level 1 Level 2 Our Level 2 2 Level 3 Our assets and liabilities measured at Level 3 Details of inputs used to calculate the fair value of contingent deferred consideration can be found in Note 10 8, Nonrecurring Fair Value Measurements Nonrecurring Level 3 3. |
Income Tax, Policy [Policy Text Block] | Income Taxes We provide for current tax expense according to the tax laws in each jurisdiction in which we operate, using tax rates and laws that have been enacted by the balance sheet date. Deferred income tax assets and liabilities are recorded for temporary differences between the financial statement and income tax basis of assets and liabilities as measured by the enacted income tax rates that may We periodically assess the recoverability of our deferred tax assets and the need for valuation allowances on these assets. We make these assessments based on the weight of available evidence regarding possible sources of future taxable income and estimates relating to the future performance of the business that results in taxable income. In evaluating uncertain tax positions, we consider the probability that the tax benefit can be sustained on examination by a taxing authority on the basis of its technical merits (“the recognition threshold”). For tax positions meeting this threshold, the amount recognized within the financial statements is the benefit expected to be realized upon settlement with the taxing authority on the basis of a cumulative-probability assessment of the possible outcomes. For tax positions not no |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition Revenue is determined based on the transaction price negotiated with the customer, net of rebates. Management fees, performance fees, shareowner servicing fees and other revenue are derived from providing professional services to manage investment products. Management fees are earned over time as services are provided and are generally based on a percentage of the market value of AUM. These fees are calculated as a percentage of either the daily, month-end or quarter-end average asset balance in accordance with contractual agreements. Performance fees are specified in certain fund and client contracts and are based on investment performance either on an absolute basis or compared to an established index over a specified period of time. Performance fees are generated on certain management contracts when performance hurdles or other specified criteria are achieved. Performance fees for all fund ranges and other investment products are recognized when it is probable that a significant reversal of revenue recognized will not no no Management fees are primarily earned monthly or quarterly, while performance fees are usually earned monthly, quarterly or annually, although the frequency of receipt varies between agreements. Management and performance fee revenue earned but not Shareowner servicing fees are earned for services rendered related to transfer agent and administrative activities performed for investment products. These services are transferred over time and are generally based on a percentage of the market value of AUM. Other revenue includes distribution and servicing fees earned from U.S. mutual funds associated with mutual fund transfer agent, accounting, shareholder servicing and participant recordkeeping activities. These services are transferred over time and are generally based on a percentage of the market value of AUM. U.S. Mutual Fund Performance Fees The investment management fee paid by each U.S. mutual fund subject to a performance fee is the base management fee plus or minus a performance fee adjustment as determined by the relative investment performance of the fund compared to a specified benchmark index. Under the performance-based fee structure, the investment advisory fee paid by each fund consists of two The addition of performance fees to all funds without such fees is subject to the approval of both a majority of the shareholders of such funds and the funds’ independent board of trustees. Principal Versus Agent We use third third third third |
Selling, General and Administrative Expenses, Policy [Policy Text Block] | Operating Expenses Operating expenses are accrued and recognized as incurred. |
Share-Based Payment Arrangement [Policy Text Block] | Stock-Based Compensation We grant stock-based awards to certain employees, all of which are classified as equity settled stock-based payments. Equity settled stock-based payments are measured at the fair value of the shares at the grant date. The awards are expensed, with a corresponding increase in equity, on a graded basis over the vesting period. Forfeitures are recognized as they occur. The grant date fair value for stock options is determined using the Black-Scholes option pricing model, and the grant date fair value of restricted stock is determined from the market price on the date of grant. The Black-Scholes model requires management to determine certain variables; the assumptions used in the Black-Scholes option pricing model include dividend yield, expected volatility, risk-free interest rate and expected life. The dividend yield and expected volatility are determined using historical Company data. The risk-free interest rate for options granted is based on the three three We generally use the Monte Carlo model to determine the fair value of performance-based awards with market conditions. The assumptions used in the Monte Carlo model include dividend yield, share price volatility and discount rate. |
Commissions, Policy [Policy Text Block] | Commissions Commissions on management fees are accounted for on an accrual basis and are recognized in the accounting period in which the associated management fee is earned. |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share Basic earnings per share attributable to our shareholders is calculated by dividing net income (adjusted for the allocation of earnings to participating restricted stock awards) by the weighted-average number of shares outstanding. We have calculated earnings per share using the two two Diluted earnings per share is calculated in a similar way to basic earnings per share but is adjusted for the effect of potential common shares unless they are anti-dilutive. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Intangible Assets Goodwill represents the excess of cost over the fair value of the identifiable net assets of acquired companies and is capitalized within the Consolidated Balance Sheets. Intangible assets consist primarily of investment management contracts and trademarks acquired as part of business combinations. Investment management contracts have been identified as separately identifiable intangible assets arising on the acquisition of subsidiaries or businesses. Such contracts are recognized at the present value of the expected future cash flows of the investment management contracts at the date of acquisition. Investment management contracts may Indefinite-lived intangible assets comprise investment management agreements where the agreements are with investment companies themselves and not not Definite-lived client relationships are amortized on a straight-line basis over their remaining useful lives. Goodwill and indefinite-lived intangible assets are reviewed for impairment annually or more frequently if changes in circumstances indicate that the carrying value may may not may first Goodwill and intangible assets require significant management estimates and judgment, including the valuation and expected life determination upon inception and the ongoing evaluation for impairment. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Transactions in foreign currencies are recorded at the appropriate exchange rate prevailing at the date of the transaction. Foreign currency monetary balances at the reporting date are converted at the prevailing exchange rate. Foreign currency non-monetary balances carried at fair value or cost are translated at the rates prevailing at the date when the fair value or cost is determined. Gains and losses arising on retranslation are recognized as a component of other comprehensive income. On consolidation, the assets and liabilities of our operations for which the functional currency is not |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | Post-Employment Retirement Benefits We provide employees with retirement benefits through both defined benefit and defined contribution plans. The assets of these plans are held separately from our general assets in trustee-administered funds. Contributions to the defined contribution plan are expensed to employee compensation and benefits on the Consolidated Statements of Comprehensive Income when they become payable. Defined benefit obligations and the cost of providing benefits are determined annually by independent qualified actuaries using the projected unit credit method. Our annual measurement date of the defined benefit plan is December 31. Actuarial gains and losses arise as a result of the difference between actual experience and actuarial assumptions. We have adopted the 10% 10% no no Net periodic benefit cost is recorded as a component of net income within the Consolidated Statements of Comprehensive Income and includes service cost, interest cost, expected return on plan assets and any actuarial gains and losses previously recognized as a component of other comprehensive income that have been amortized in the period. Net periodic benefit costs, with the exception of service costs, are recognized within other non-operating income, net on the Consolidated Statements of Comprehensive Income; service costs are recognized within employee compensation and benefits. |
Stockholders' Equity, Policy [Policy Text Block] | Common Stock JHG’s ordinary shares, par value $1.50 per share, are classified as equity instruments. Equity shares issued by us are recorded at the fair value of the proceeds received or the market price on the day of issue. Direct issue costs, net of tax, are deducted from additional paid-in-capital within equity. Treasury shares held are equity shares of JHG acquired by or issued to employee benefit trusts. Treasury shares held are recorded at cost and are deducted from equity. No |
Note 4 - Consolidation (Tables)
Note 4 - Consolidation (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Variable Interest Entities [Table Text Block] | December 31, December 31, 2023 2022 Unconsolidated VIEs $ 17.2 $ 1.5 |
Consolidated Voting Right Entities VRE [Table Text Block] | December 31, December 31, 2023 2022 Investments $ 242.9 $ 206.0 Cash and cash equivalents 6.5 5.8 Other current assets 21.6 1.8 Accounts payable and accrued liabilities (1.1 ) (1.0 ) Total $ 269.9 $ 212.6 Redeemable noncontrolling interests in consolidated VREs (100.9 ) (35.1 ) JHG’s net interest in consolidated VREs $ 169.0 $ 177.5 |
Unconsolidated Voting Right Entities VRE [Table Text Block] | December 31, December 31, 2023 2022 Unconsolidated VREs $ 9.9 $ 3.4 |
Note 5 - Investments (Tables)
Note 5 - Investments (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Investment [Table Text Block] | December 31, December 31, 2023 2022 Current investments: Seeded investment products: Consolidated VIEs $ 382.4 $ 334.3 Consolidated VREs 242.9 206.0 Unconsolidated VIEs and VREs 27.1 4.9 Separately managed accounts 44.1 29.7 Total seeded investment products 696.5 574.9 Investments related to deferred compensation plans 12.0 10.7 Other investments 8.1 10.3 Total current investments $ 716.6 $ 595.9 Non-current investments: Equity method investments 29.5 18.7 Total investments $ 746.1 $ 614.6 |
Gain (Loss) on Securities [Table Text Block] | Year ended December 31, 2023 2022 2021 Seeded investment products and hedges, net $ 20.3 $ (15.2 ) $ 2.0 Third-party ownership interests in seeded investment products 34.7 (97.9 ) (8.0 ) Equity method investments (13.5 ) 2.9 3.0 Other 1.9 (3.1 ) 3.8 Investment gains (losses), net $ 43.4 $ (113.3 ) $ 0.8 |
Cash Flows Related to Investment Securities and Other Assets [Table Text Block] | Year ended December 31, 2023 2022 2021 Purchases Sales, Purchases Sales, Purchases Sales, and settlements and Net and settlements and Net and settlements and Net settlements maturities cash flow settlements maturities cash flow settlements maturities cash flow Investments by consolidated seeded investment products $ (227.3 ) $ 2.4 $ (224.9 ) $ (88.4 ) $ 44.5 $ (43.9 ) $ (100.4 ) $ 3.0 $ (97.4 ) Investments (180.6 ) 120.9 (59.7 ) (143.1 ) 187.7 44.6 (303.0 ) 125.9 (177.1 ) |
Note 6 - Derivative Instrumen_2
Note 6 - Derivative Instruments (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | Notional value December 31, 2023 December 31, 2022 Futures $ 1,018.0 $ 196.8 Credit default swaps 199.7 115.1 Total return swaps 51.8 37.2 Foreign currency forward contracts and swaps 176.2 131.7 Notional value December 31, 2023 December 31, 2022 Futures $ 1,555.1 $ 141.3 Credit default swaps 13.2 2.2 Total return swaps 0.3 10.4 Interest rate swaps 2.2 — Options — 0.1 Swaptions 3.0 — Foreign currency forward contracts and swaps 135.3 18.3 Notional value December 31, 2023 December 31, 2022 Foreign currency forward contracts and swaps $ 65.3 $ 74.7 |
Derivative Instruments, Gain (Loss) [Table Text Block] | Year ended December 31, 2023 2022 2021 Futures $ (7.0 ) $ 40.8 $ (24.6 ) Credit default swaps (6.5 ) 3.7 (1.6 ) Total return swaps (12.8 ) 21.3 (13.3 ) Foreign currency forward contracts and swaps 8.4 (9.6 ) 11.6 Total gains (losses) from derivative instruments $ (17.9 ) $ 56.2 $ (27.9 ) |
Schedule of Derivative Instruments [Table Text Block] | Fair value December 31, 2023 December 31, 2022 Derivative assets $ 1.8 $ 5.3 Derivative liabilities 16.7 4.0 Fair value December 31, 2023 December 31, 2022 Derivative asset $ 6.7 $ 0.1 Derivative liabilities 1.2 0.6 |
Note 7 - Property, Equipment _2
Note 7 - Property, Equipment and Software (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Depreciation Expense [Table Text Block] | Year ended December 31, 2023 2022 2021 Depreciation expense $ 18.4 $ 21.6 $ 23.5 |
Property, Plant and Equipment [Table Text Block] | Depreciation December 31, period 2023 2022 Furniture, fixtures and computer equipment 3 - 10 years $ 50.1 $ 23.9 Leasehold improvements Over the shorter of the useful life or the lease term 47.7 27.6 Computer software 3 - 7 years 103.3 90.6 Property, equipment and software, gross $ 201.1 $ 142.1 Accumulated depreciation (156.9 ) (90.3 ) Property, equipment and software, net $ 44.2 $ 51.8 |
Note 8 - Goodwill and Intangi_2
Note 8 - Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | Foreign December 31, currency December 31, 2022 Amortization Disposal Impairment translation 2023 Indefinite-lived intangible assets: Investment management agreements $ 2,046.5 $ — $ — $ — $ 18.3 $ 2,064.8 Trademarks 360.0 — — — — 360.0 Definite-lived intangible assets: Client relationships 68.9 — (2.6 ) — 2.3 68.6 Accumulated amortization (60.7 ) (1.7 ) 2.6 — (2.3 ) (62.1 ) Net intangible assets $ 2,414.7 $ (1.7 ) $ — $ — $ 18.3 $ 2,431.3 Goodwill $ 1,253.1 $ — $ — $ — $ 37.2 $ 1,290.3 Foreign December 31, currency December 31, 2021 Amortization Disposal Impairment translation 2022 Indefinite-lived intangible assets: Investment management agreements $ 2,114.8 $ — $ — $ (25.9 ) $ (42.4 ) $ 2,046.5 Trademarks 366.7 — (4.7 ) (2.0 ) — 360.0 Definite-lived intangible assets: Client relationships 168.4 — (84.8 ) (7.9 ) (6.8 ) 68.9 Accumulated amortization (107.2 ) (3.7 ) 44.7 — 5.5 (60.7 ) Net intangible assets $ 2,542.7 $ (3.7 ) $ (44.8 ) $ (35.8 ) $ (43.7 ) $ 2,414.7 Goodwill $ 1,341.5 $ — $ (7.0 ) $ — $ (81.4 ) $ 1,253.1 |
Note 9 - Leases (Tables)
Note 9 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Lease Balance Sheet Disclosure [Table Text Block] | Operating lease ROU assets: December 31, 2023 December 31, 2022 Other non-current assets $ 69.5 $ 79.7 Operating lease liabilities: Accounts payable and accrued liabilities $ 23.0 $ 23.7 Other non-current liabilities 54.8 67.1 Total operating lease liabilities $ 77.8 $ 90.8 Finance lease ROU assets: Property and equipment, cost $ 0.6 $ 16.3 Accumulated depreciation (0.3 ) (14.2 ) Property and equipment, net $ 0.3 $ 2.1 Finance lease liabilities: Accounts payable and accrued liabilities $ 0.1 $ 0.8 Other non-current liabilities 0.2 1.4 Total finance lease liabilities $ 0.3 $ 2.2 |
Lease, Cost [Table Text Block] | Year ended Year ended Year ended December 31, 2023 December 31, 2022 December 31, 2021 Operating lease cost (1) $ 22.6 $ 27.5 $ 30.2 Finance lease cost: Amortization of ROU asset (2) $ 0.5 $ 0.8 $ 0.5 Year ended Year ended Year ended December 31, 2023 December 31, 2022 December 31, 2021 Sublease income $ 4.3 $ 5.9 $ 7.2 Year ended Year ended Year ended December 31, 2023 December 31, 2022 December 31, 2021 Operating cash flows from operating leases $ 29.4 $ 26.9 $ 27.9 Financing cash flows from finance leases $ 0.4 $ 0.9 $ 0.4 Year ended Year ended Year ended December 31, 2023 December 31, 2022 December 31, 2021 Increase (decrease) in ROU assets related to modified operating lease liabilities $ 2.7 $ (3.2 ) $ 11.4 Year ended Year ended Weighted-average remaining lease term (in months): December 31, 2023 December 31, 2022 Operating leases 51 57 Finance leases 37 38 Year ended Year ended Weighted-average discount rate (1) December 31, 2023 December 31, 2022 Operating leases 2.5 % 4.3 % Finance leases 4.0 % 2.2 % |
Schedule of Lease Liability Maturity [Table Text Block] | Future lease obligations (in millions) (1) Operating leases 2024 $ 24.1 2025 18.1 2026 14.5 2027 13.4 2028 10.3 Thereafter 1.7 Total lease payments 82.1 Less interest 4.3 Total $ 77.8 (1) The future lease obligations for finance leases are immaterial as of December 31, 2023. On January 31, 2024, we amended our lease agreement associated with our primary office building in Denver, Colorado. The term of the lease was extended for a period of 91 months commencing on February 1, 2025, and expiring on August 31, 2032. |
Note 10 - Fair Value Measurem_2
Note 10 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair value measurements using: Quoted prices in active Significant markets for other Significant identical assets observable unobservable and liabilities inputs inputs (Level 1) (Level 2) (Level 3) Total Assets: Cash equivalents $ 894.4 $ — $ — $ 894.4 Current investments: Consolidated VIEs 317.6 64.7 0.1 382.4 Other investments 212.2 122.0 — 334.2 Total current investments 529.8 186.7 0.1 716.6 Seed hedge derivatives — 1.8 — 1.8 Derivatives used in consolidated seeded investment products — 6.7 — 6.7 Privacore option agreement — — 1.0 1.0 Total assets $ 1,424.2 $ 195.2 $ 1.1 $ 1,620.5 Liabilities: Derivatives used in consolidated seeded investment products $ — $ 1.2 $ — $ 1.2 Derivatives used in foreign currency hedging program — 0.7 — 0.7 Securities sold, not yet purchased 1.7 — — 1.7 Seed hedge derivatives — 16.7 — 16.7 Long-term debt (1) — 298.0 — 298.0 Deferred bonuses — — 117.6 117.6 Total liabilities $ 1.7 $ 316.6 $ 117.6 $ 435.9 Fair value measurements using: Quoted prices in active Significant 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 Current investments: Consolidated VIEs 275.4 54.0 4.9 334.3 Other investments 171.9 89.4 0.3 261.6 Total current 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] | Year ended December 31, 2023 2022 Beginning of period fair value $ 18.3 $ 8.8 Contingent consideration from sale of subsidiaries — 12.1 Settlement of contingent consideration (0.2 ) — Fair value adjustments (12.1 ) (1.2 ) Transfers from Level 1 0.2 0.3 Transfers to Level 1 (4.8 ) (2.1 ) Purchases of securities — 1.0 Sales of securities (0.3 ) (0.3 ) Foreign currency translation — (0.3 ) End of period fair value $ 1.1 $ 18.3 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Year ended December 31, 2023 2022 Beginning of period fair value $ 46.5 $ 50.5 Fair value adjustments 9.0 (2.1 ) Vesting of deferred bonuses (34.7 ) (36.5 ) Amortization of deferred bonuses 58.6 38.0 Foreign currency translation 2.4 (3.4 ) Additions 35.8 — End of period fair value $ 117.6 $ 46.5 |
Note 11 - Debt (Tables)
Note 11 - Debt (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Long-Term Debt Instruments [Table Text Block] | December 31, 2023 December 31, 2022 Carrying Fair Carrying Fair value value value value 4.875% Senior Notes due 2025 $ 304.6 $ 298.0 $ 307.5 $ 295.4 |
Note 12 - Income Taxes (Tables)
Note 12 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year ended December 31, 2023 2022 2021 Current income taxes: UK $ 15.2 $ 10.5 $ 41.1 U.S., including state and local 88.1 95.9 154.0 International 3.0 8.8 12.4 Total current income taxes 106.3 115.2 207.5 Deferred income taxes: UK (4.0 ) (10.3 ) 29.6 U.S., including state and local (2.0 ) 10.0 (8.7 ) International — (14.0 ) (23.1 ) Total deferred income benefits (6.0 ) (14.3 ) (2.2 ) Total income tax expense $ 100.3 $ 100.9 $ 205.3 |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Year ended December 31, 2023 2022 2021 UK $ 86.4 $ (44.1 ) $ 217.8 U.S. 423.4 428.7 627.1 International 17.2 (9.2 ) (27.2 ) Total income before taxes $ 527.0 $ 375.4 $ 817.7 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year ended December 31, 2023 2022 2021 UK statutory corporation tax rate 23.5 % 19.0 % 19.0 % Effect of foreign tax rates 0.1 6.3 3.5 Equity-based compensation 0.3 0.7 0.1 Tax adjustments 0.5 2.0 0.4 Impact of changes in statutory tax rates on deferred taxes (1.9 ) (1.3 ) 3.6 Taxes applicable to prior years (1.9 ) (4.5 ) (1.4 ) Other, net (1.8 ) — (0.3 ) Effective income tax rate, controlling interest 18.8 % 22.2 % 24.9 % Net loss attributable to noncontrolling interests 0.2 4.7 0.2 Total effective income tax rate 19.0 % 26.9 % 25.1 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2023 2022 Deferred tax assets: Compensation and staff benefits $ 59.8 $ 57.6 Loss carryforwards (1) 88.4 76.7 Accrued liabilities 7.0 6.3 Debt premium 1.3 2.1 Lease liabilities 16.8 19.6 Other 4.0 13.9 Gross deferred tax assets 177.3 176.2 Valuation allowance (76.8 ) (68.3 ) Deferred tax assets, net of valuation allowance $ 100.5 $ 107.9 Deferred tax liabilities: Retirement benefits $ (21.4 ) $ (24.2 ) Goodwill and acquired intangible assets (628.6 ) (631.2 ) Lease ROU assets (16.2 ) (18.9 ) Other (3.5 ) (7.1 ) Gross deferred tax liabilities (669.7 ) (681.4 ) Total deferred tax liabilities (2) $ (569.2 ) $ (573.5 ) December 31, 2023 2022 Deferred tax assets, net (included in other non-current assets) $ 1.6 $ 1.1 Deferred tax liabilities, net (570.8 ) (574.6 ) Total deferred tax liabilities $ (569.2 ) $ (573.5 ) |
Summary of Income Tax Contingencies [Table Text Block] | Year ended December 31, 2023 2022 2021 Beginning balance $ 26.7 $ 19.2 $ 15.8 Additions for tax positions of current year 6.9 9.7 5.0 Reduction due to settlement with taxing authorities (0.3 ) (1.4 ) (1.2 ) Reduction due to statute expirations (4.6 ) (0.5 ) (0.4 ) Total change due to true up (0.1 ) — — Total removed due to audit payment (0.4 ) — — Foreign currency translation 0.2 (0.3 ) — Ending balance $ 28.4 $ 26.7 $ 19.2 |
Note 13 - Other Financial Sta_2
Note 13 - Other Financial Statement Captions (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Other Current Assets [Table Text Block] | December 31, 2023 2022 Prepaid expenses $ 69.9 $ 42.4 Current corporation tax 26.5 31.1 Derivatives (including collateral and margin) 41.5 22.0 Other current assets 36.6 24.8 Total other current assets $ 174.5 $ 120.3 |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | December 31, 2023 2022 Accrued distribution commissions $ 58.6 $ 60.9 Accrued rebates 17.2 18.7 Other accrued liabilities 63.6 72.0 Total other accrued liabilities $ 139.4 $ 151.6 Current corporation tax (including interest) 11.9 14.9 Operating and financing leases 23.1 24.5 Derivatives 17.5 5.1 Other current liabilities 39.5 36.5 Total accounts payable and accrued liabilities $ 231.4 $ 232.6 |
Other Noncurrent Liabilities [Table Text Block] | December 31, 2023 2022 Non-current tax liabilities (including interest) $ 22.9 $ 23.0 Operating leases 54.8 67.1 Other creditors 9.7 8.7 Total other non-current liabilities $ 87.4 $ 98.8 |
Note 14 - Noncontrolling Inte_2
Note 14 - Noncontrolling Interests (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Redeemable Noncontrolling Interest [Table Text Block] | December 31, 2023 2022 Consolidated seeded investment products $ 317.2 $ 233.9 |
Noncontrolling Interest Increase (Decrease) [Table Text Block] | Year ended December 31, 2023 2022 2021 Opening balance $ 233.9 $ 148.5 $ 70.6 Changes in market value 34.8 (97.9 ) (6.2 ) Changes in ownership 46.5 184.2 84.3 Foreign currency translation 2.0 (0.9 ) (0.2 ) Closing balance $ 317.2 $ 233.9 $ 148.5 |
Note 15 - Long-Term Incentive_2
Note 15 - Long-Term Incentive and Employee Compensation (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Share-Based Payment Arrangement, Cost by Plan [Table Text Block] | Year ended December 31, 2023 2022 2021 DIP $ 70.6 $ 84.0 $ 52.1 DEP — 0.3 2.8 RSA — 1.9 8.8 Other 4.3 4.1 4.2 Stock-based payments expense $ 74.9 $ 90.3 $ 67.9 DIP funds — liability settled 81.5 84.7 71.3 DEP funds — liability settled — 0.6 13.1 MFSA — liability settled 0.8 (1.5 ) 12.9 Profits Interests and Other 0.7 (3.9 ) 2.9 Social Security costs 9.5 10.5 12.9 Total long-term incentive compensation expense $ 167.4 $ 180.7 $ 181.0 Unrecognized and unearned compensation expense based on expected vesting outcomes as of December 31, 2023, including the weighted-average number of years over which the compensation cost will be recognized, is summarized as follows (in millions): |
Employee Service Share Based Compensation Cost Not yet Recognized [Table Text Block] | Unrecognized Weighted-average compensation years DIP $ 44.1 1.7 Other 2.5 1.3 Stock-based payments expense 46.6 1.7 DIP funds — liability settled 43.3 1.5 Social Security costs 16.8 0.7 Total unrecognized long-term incentive compensation expense $ 106.7 1.5 |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Year ended December 31, 2023 2022 2021 SAYE SAYE SAYE Fair value of options granted £ 6.2 £ 9.25 £ 10.28 Assumptions: Dividend yield 5.89 % 4.27 % 3.68 % Expected volatility 45.33 % 41.82 % 41.37 % Risk-free interest rate 3.47 % 1.43 % 0.17 % Expected life (years) 3.16 3.17 3.00 |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | 2023 2022 2021 Weighted-average Weighted-average Weighted-average Shares price Shares price Shares price Outstanding at January 1 386,584 $ 19.18 492,889 $ 20.83 1,255,398 $ 27.13 Granted 137,019 $ 21.67 127,903 $ 24.83 83,648 $ 23.85 Exercised (201,795 ) $ 14.95 (193,821 ) $ 24.34 (418,292 ) $ 29.04 Forfeited (36,854 ) $ 23.37 (40,387 ) $ 22.78 (427,865 ) $ 36.87 Outstanding at December 31 284,954 $ 22.82 386,584 $ 19.18 492,889 $ 20.83 Exercisable (1) 5,954 $ 8.23 32,710 $ 10.46 92,630 $ 26.62 Vested or expected to vest 284,954 $ 22.82 386,584 $ 19.18 92,630 $ 26.62 |
Schedule of Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value [Table Text Block] | Year ended December 31, 2023 2022 2021 Exercised $ 2.4 $ 1.3 $ 0.3 Outstanding $ 2.3 $ 2.4 $ 7.4 Exercisable $ 0.1 $ 0.5 $ 1.0 |
Schedule of Nonvested Share Activity [Table Text Block] | 2023 2022 2021 Weighted-average Weighted-average Weighted-average Shares price Shares price Shares price Unvested at January 1 5,641,839 $ 29.99 4,949,927 $ 26.42 5,602,828 $ 24.56 Granted 2,141,254 $ 27.08 3,581,420 $ 32.44 2,285,257 $ 29.94 Vested (2,669,197 ) $ 27.93 (2,733,825 ) $ 26.29 (2,699,721 ) $ 26.78 Forfeited (229,409 ) $ 29.70 (155,683 ) $ 31.48 (238,437 ) $ 27.37 Unvested at December 31 4,884,487 $ 29.86 5,641,839 $ 29.99 4,949,927 $ 26.42 2023 2022 2021 Weighted-average Weighted-average Weighted-average Shares price Shares price Shares price Unvested at January 1 50,900 $ 29.38 258,024 $ 24.31 264,695 $ 26.07 Granted 333,389 $ 27.44 - $ - 77,228 $ 29.38 Adjustment to shares granted due to performance measures - $ - 39,837 $ 24.55 (23,996 ) $ 34.52 Vested (50,900 ) $ 29.38 (246,961 ) $ 22.28 (59,903 ) $ 34.52 Forfeited (56,852 ) $ 27.44 - $ - - $ - Unvested at December 31 276,537 $ 27.44 50,900 $ 29.38 258,024 $ 24.31 |
Note 16 - Retirement Benefit _2
Note 16 - Retirement Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets [Table Text Block] | 2023 2022 Change in plan assets: Fair value of plan assets as of January 1 $ 660.5 $ 1,142.6 Return on plan assets 15.2 (335.0 ) Employer contributions 2.2 2.1 Benefits paid (17.9 ) (15.8 ) Settlements (3.2 ) (9.7 ) Foreign currency translation 39.6 (123.7 ) Fair value of plan assets as of December 31 696.4 660.5 Change in benefit obligation: Benefit obligation as of January 1 (565.6 ) (975.2 ) Interest cost (27.6 ) (16.9 ) Settlements 3.2 9.7 Benefits paid 17.9 15.8 Actuarial (loss)/gain (5.1 ) 295.4 Foreign currency translation (33.9 ) 105.6 Benefit obligation as of December 31 (611.1 ) (565.6 ) Funded status as of year-end 85.3 94.9 Net retirement benefit asset recognized in the Consolidated Balance Sheets $ 85.3 $ 94.9 |
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | December 31, 2023 2022 Retirement benefit assets recognized in the Consolidated Balance Sheets: Janus Henderson Group UK Pension Scheme $ 87.6 $ 97.9 Retirement benefit obligations recognized in the Consolidated Balance Sheets: Janus Henderson Group unapproved pension scheme (2.3 ) (3.0 ) Net retirement benefit asset recognized in the Consolidated Balance Sheets $ 85.3 $ 94.9 |
Schedule of Assumptions Used in Determining Defined Benefit Obligation [Table Text Block] | December 31, 2023 2022 Discount rate 4.5 % 4.8 % Inflation — Retail Price Index (“RPI”) 3.1 % 3.3 % Inflation — Consumer Price Index (“CPI”) 2.5 % 2.7 % Pension increases (RPI capped at 5% per annum (“p.a.”)) 3.0 % 3.2 % Pension increases (RPI capped at 2.5% p.a.) 2.1 % 2.1 % Life expectancy of male aged 60 at accounting date 29.1 29.4 Life expectancy of male aged 60 in 15 years’ time 30.1 30.3 |
Schedule of Allocation of Plan Assets [Table Text Block] | December 31, 2023 2022 Cash and cash equivalents $ 19.9 $ 1.8 Money market instruments 7.8 8.0 Bulk annuity policy 240.7 230.7 Fixed income investments 300.6 249.3 Equity investments 127.4 170.7 Total assets at fair value $ 696.4 $ 660.5 As of December 31, 2023 and 2022, $103.4 million and $148.4 million, respectively, of JHGPS assets were held in JHG-managed funds. |
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | Fair value measurements using: Quoted prices in active markets for identical assets Significant other Significant and liabilities observable inputs unobservable inputs (Level 1) (Level 2) (Level 3) Total Cash and cash equivalents $ 19.9 $ — $ — $ 19.9 Money market instruments 7.8 — — 7.8 Bulk annuity contract — — 240.7 240.7 Fixed income investments 300.6 — — 300.6 Equity investments 127.4 — — 127.4 Total $ 455.7 $ — $ 240.7 $ 696.4 Fair value measurements using: Quoted prices in active markets for identical assets Significant other Significant and liabilities observable inputs unobservable inputs (Level 1) (Level 2) (Level 3) Total Cash and cash equivalents $ 1.8 $ — $ — $ 1.8 Money market instruments 8.0 — — 8.0 Bulk annuity contract — — 230.7 230.7 Fixed income investments 249.3 — — 249.3 Equity investments 170.7 — — 170.7 Total $ 429.8 $ — $ 230.7 $ 660.5 |
Schedule of Actuarial Gains and Losses [Table Text Block] | 2023 2022 Opening accumulated unamortized actuarial loss as of January 1 $ (70.4 ) $ (32.8 ) Actuarial loss (18.8 ) (53.1 ) Tax at source on current year actuarial gain 3.5 15.1 Prior service cost 0.5 0.4 Amortization of actuarial loss 0.5 — Closing accumulated unamortized actuarial loss as of December 31 $ (84.7 ) $ (70.4 ) |
Schedule of Assumptions Used in Determining Net Periodic Benefit Cost [Table Text Block] | December 31, 2023 2022 2021 Service cost $ — $ — $ (0.6 ) Settlement loss — — (1.1 ) Curtailment loss — — (0.3 ) Interest cost (27.6 ) (16.9 ) (13.5 ) Amortization of actuarial loss (0.5 ) — — Amortization of prior service cost (0.4 ) (0.4 ) (0.4 ) Expected return on plan assets 28.7 13.8 11.3 Net periodic benefit credit (cost) 0.2 (3.5 ) (4.6 ) Contributions to money purchase section (11.6 ) (11.5 ) (11.3 ) Total cost $ (11.4 ) $ (15.0 ) $ (15.9 ) December 31, 2023 2022 2021 Discount rate 4.8 % 1.9 % 1.3 % Inflation — salaries N/A N/A 2.5 % Inflation — RPI 3.3 % 3.4 % 2.9 % Inflation — CPI 2.7 % 2.8 % 2.2 % Pension increases (RPI capped at 5% p.a.) 3.2 % 3.3 % 2.9 % Pension increases (RPI capped at 2.5% p.a.) 2.1 % 2.2 % 2.1 % Expected return on plan assets 4.4 % 1.6 % 1.2 % Amortization period for net actuarial gains at beginning of the year 28.0 29.0 9.0 Cash Flows |
Schedule of Expected Benefit Payments [Table Text Block] | 2024 $ 22.1 2025 $ 22.4 2026 $ 23.8 2027 $ 24.7 2028 $ 25.1 2029-2033 $ 137.6 |
Note 17 - Accumulated Other C_2
Note 17 - Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Year ended December 31, 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) 96.8 (15.2 ) 81.6 (221.0 ) (38.0 ) (259.0 ) Reclassifications to net income (1) 4.7 0.9 5.6 (4.1 ) 0.4 (3.7 ) Total other comprehensive income (loss) 101.5 (14.3 ) 87.2 (225.1 ) (37.6 ) (262.7 ) Less: other comprehensive loss (income) attributable to noncontrolling interests (3.1 ) — (3.1 ) 2.0 — 2.0 Ending balance $ (478.9 ) $ (84.7 ) $ (563.6 ) $ (577.3 ) $ (70.4 ) $ (647.7 ) |
Comprehensive Income (Loss) [Table Text Block] | Pre-tax Tax Year ended December 31, 2023 amount expense Net amount Foreign currency translation adjustments $ 94.4 $ 2.4 $ 96.8 Retirement benefit asset, net (18.7 ) 3.5 (15.2 ) Reclassifications to net income 5.6 — 5.6 Total other comprehensive income $ 81.3 $ 5.9 $ 87.2 Pre-tax Tax Year ended December 31, 2022 amount expense Net amount Foreign currency translation adjustments $ (224.2 ) $ 3.2 $ (221.0 ) Retirement benefit asset, net (46.8 ) 8.8 (38.0 ) Reclassifications to net income (3.7 ) — (3.7 ) Total other comprehensive loss $ (274.7 ) $ 12.0 $ (262.7 ) Pre-tax Tax Year ended December 31, 2021 amount expense Net amount Foreign currency translation adjustments $ (48.2 ) $ 1.3 $ (46.9 ) Retirement benefit asset, net (23.5 ) — (23.5 ) Reclassifications to net income (2.1 ) — (2.1 ) Total other comprehensive loss $ (73.8 ) $ 1.3 $ (72.5 ) |
Note 18 - Earnings and Divide_2
Note 18 - Earnings and Dividends Per Share (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year ended December 31, 2023 2022 2021 Net income attributable to JHG $ 392.0 $ 372.4 $ 620.0 Allocation of earnings to participating stock-based awards (11.2 ) (11.3 ) (17.7 ) Net income attributable to JHG common shareholders $ 380.8 $ 361.1 $ 602.3 Weighted-average common shares outstanding — basic 160.4 161.7 167.9 Dilutive effect of nonparticipating stock-based awards 0.1 0.3 0.6 Weighted-average common shares outstanding — diluted 160.5 162.0 168.5 Earnings per share: Basic $ 2.37 $ 2.23 $ 3.59 Diluted $ 2.37 $ 2.23 $ 3.57 |
Dividends Declared [Table Text Block] | Year ended December 31, 2023 2022 2021 Dividends paid per share $ 1.56 $ 1.55 $ 1.50 |
Note 20 - Related Party Trans_2
Note 20 - Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | As of December 31, 2023 2022 Accrued income $ 171.6 $ 125.3 Accounts receivable 68.9 80.7 |
Note 21 - Geographic Informat_2
Note 21 - Geographic Information (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | Year ended December 31, Operating revenues 2023 2022 2021 U.S. $ 1,304.3 $ 1,324.6 $ 1,634.4 UK 350.4 315.1 639.7 Luxembourg 400.6 512.5 437.2 Australia and other 46.5 51.4 55.7 Total $ 2,101.8 $ 2,203.6 $ 2,767.0 As of December 31, Long-lived assets 2023 2022 U.S. $ 2,093.9 $ 2,099.8 UK 343.0 326.2 Australia 35.9 37.5 Other 2.7 3.0 Total $ 2,475.5 $ 2,466.5 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Details Textual) - $ / shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Minimum Percentage of Ownership in Order to Qualify as Controlling Interest | 9% | |
Performance Fee Adjustment, Variable Rate | 0.15% | |
Performance Fee Adjustment, Measurement Period (Year) | 36 years | |
Number of Reporting Units | 1 | |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 1.5 | $ 1.5 |
Note 3 - Dispositions (Details
Note 3 - Dispositions (Details Textual) $ in Thousands | 1 Months Ended | 12 Months Ended | ||||||
Mar. 31, 2022 USD ($) | Mar. 17, 2020 USD ($) | Nov. 30, 2021 USD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Feb. 03, 2022 | Dec. 03, 2019 | |
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | $ 0 | $ (9,100) | $ 0 | |||||
Proceeds from Divestiture of Businesses | 0 | $ 14,900 | 0 | |||||
Intech Investment Management LLC [Member] | Term Note [Member] | ||||||||
Financing Receivable, before Allowance for Credit Loss | $ 20,000 | |||||||
Financing Receivable Term (Year) | 7 years | |||||||
Number Of Tranches | 2 | |||||||
Intech Investment Management LLC [Member] | Term Note, Tranche One [Member] | ||||||||
Financing Receivable, before Allowance for Credit Loss | $ 10,000 | |||||||
Intech Investment Management LLC [Member] | Term Note, Tranche Two [Member] | ||||||||
Financing Receivable, before Allowance for Credit Loss | 11,700 | |||||||
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 | |||||||
Geneva Capital Management [Member] | ||||||||
Percentage Of Ownership Sold | 100% | |||||||
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | $ 16,200 | |||||||
Disposal Group, Including Discontinued Operation, Consideration | $ 38,400 | |||||||
Period of Performance of Investee for Recognizing Consideration (Year) | 5 years | |||||||
Business Combination, Contingent Consideration, Asset | $ 20,500 | |||||||
Disposal Group, Including Discontinued Operation, Contingent Consideration, Remaining Earnout | $ 20,000 | |||||||
Disposal Group, Including Discontinued Operation, Contingent Consideration, Remaining Base Earnout | 12,500 | |||||||
Disposal Group, Including Discontinued Operation, Contingent Consideration, Excess Earnout | $ 7,500 | |||||||
Geneva Capital Management [Member] | Maximum [Member] | ||||||||
Business Combination, Contingent Consideration, Asset | $ 35,000 |
Note 4 - Consolidation - VIEs (
Note 4 - Consolidation - VIEs (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Variable Interest Entity, Primary Beneficiary [Member] | ||
Unconsolidated VIEs | $ 17.2 | $ 1.5 |
Note 4 - Consolidation - VREs (
Note 4 - Consolidation - VREs (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Investments | $ 334.2 | $ 261.6 |
Cash and cash equivalents | 1,152.4 | 1,162.3 |
Other current assets | 174.5 | 120.3 |
Accounts payable and accrued liabilities | (231.4) | (232.6) |
Variable Rights Entity, Primary Beneficiary, Aggregated Disclosure [Member] | ||
Investments | 242.9 | 206 |
Cash and cash equivalents | 6.5 | 5.8 |
Other current assets | 21.6 | 1.8 |
Accounts payable and accrued liabilities | (1.1) | (1) |
Total | 269.9 | 212.6 |
Redeemable noncontrolling interests in consolidated VREs | (100.9) | (35.1) |
JHG’s net interest in consolidated VREs | $ 169 | $ 177.5 |
Note 4 - Consolidation - Uncons
Note 4 - Consolidation - Unconsolidated VREs (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Unconsolidated VREs [Member] | ||
JHG’s net interest in consolidated VREs | $ 9.9 | $ 3.4 |
Note 5 - Investments (Details T
Note 5 - Investments (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |||
Jun. 01, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Gain (Loss) on Investments | $ 43.4 | $ (113.3) | $ 0.8 | |
Unrealized Gain (Loss) on Investments | $ 2.8 | $ (21.7) | $ 41 | |
Privacore [Member] | ||||
Payments to Acquire Equity Method Investments | $ 25 | |||
Equity Method Investment, Ownership Percentage | 49% | |||
Reclassification of Earnings from an Equity Method Investment [Member] | ||||
Gain (Loss) on Investments | $ 12.5 |
Note 5 - Investment - General D
Note 5 - Investment - General Disclosure (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Seeded investment products | $ 696.5 | $ 574.9 |
Estimated Fair Value | 746.1 | 614.6 |
Equity method investments | 29.5 | 18.7 |
Unconsolidated VIEs and VREs [Member] | ||
Seeded investment products | 27.1 | 4.9 |
Separately Managed Accounts [Member] | ||
Seeded investment products | 44.1 | 29.7 |
Investments Related to Deferred Compensation Plans [Member] | ||
Estimated Fair Value | 12 | 10.7 |
Other Security Investments [Member] | ||
Estimated Fair Value | 8.1 | 10.3 |
Current Investments [Member] | ||
Estimated Fair Value | 716.6 | 595.9 |
Variable Interest Entity, Primary Beneficiary [Member] | ||
Seeded investment products | 382.4 | 334.3 |
Voting Rights Entity, Primary Beneficiary Aggregated Disclosure [Member] | ||
Seeded investment products | $ 242.9 | $ 206 |
Note 5 - Investment Securities
Note 5 - Investment Securities - Investment Gains (Losses), Net (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Investment gains (losses), net | $ 43.4 | $ (113.3) | $ 0.8 |
Seeded Investment Products and Hedges, Net [Member] | |||
Investment gains (losses), net | 20.3 | (15.2) | 2 |
Third-party Ownership Interests in Seeded Investment Products [Member] | |||
Investment gains (losses), net | 34.7 | (97.9) | (8) |
Equity Method Investments [Member] | |||
Investment gains (losses), net | (13.5) | 2.9 | 3 |
Other Security Investments [Member] | |||
Investment gains (losses), net | $ 1.9 | $ (3.1) | $ 3.8 |
Note 5 - Investment Securitie_2
Note 5 - Investment Securities - Cash Flows (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Investments, net | $ (59.7) | $ 44.6 | $ (177.1) |
Seeded Investment Products [Member] | |||
Purchases and settlements | (227.3) | (88.4) | (100.4) |
Sales, settlements and maturities | 2.4 | 44.5 | 3 |
Investments, net | (224.9) | (43.9) | (97.4) |
Securities Investment [Member] | |||
Purchases and settlements | (180.6) | (143.1) | (303) |
Sales, settlements and maturities | 120.9 | 187.7 | 125.9 |
Investments, net | $ (59.7) | $ 44.6 | $ (177.1) |
Note 6 - Derivative Instrumen_3
Note 6 - Derivative Instruments (Details Textual) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Financial Instruments Sold, Not yet Purchased, Derivatives and Other Contracts | $ 1.7 | $ 0.5 |
Note 6 - Derivative Instrumen_4
Note 6 - Derivative Instruments - Derivative Instruments (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Futures [Member] | ||
Notional value of derivative | $ 1,018 | $ 196.8 |
Futures [Member] | Seeded Investment Products [Member] | ||
Notional value of derivative | 1,555.1 | 141.3 |
Foreign Currency, Forward Contracts and Swaps [Member] | ||
Notional value of derivative | 176.2 | 131.7 |
Foreign Currency, Forward Contracts and Swaps [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member] | ||
Notional value of derivative | 65.3 | 74.7 |
Foreign Currency, Forward Contracts and Swaps [Member] | Seeded Investment Products [Member] | ||
Notional value of derivative | 135.3 | 18.3 |
Credit Default Swaps [Member] | ||
Notional value of derivative | 199.7 | 115.1 |
Credit Default Swaps [Member] | Seeded Investment Products [Member] | ||
Notional value of derivative | 13.2 | 2.2 |
Total Return Swaps [Member] | ||
Notional value of derivative | 51.8 | 37.2 |
Total Return Swaps [Member] | Seeded Investment Products [Member] | ||
Notional value of derivative | 0.3 | 10.4 |
Interest Rate Swap [Member] | Seeded Investment Products [Member] | ||
Notional value of derivative | 2.2 | 0 |
Options [Member] | Seeded Investment Products [Member] | ||
Notional value of derivative | 0 | 0.1 |
Swaption [Member] | Seeded Investment Products [Member] | ||
Notional value of derivative | $ 3 | $ 0 |
Note 6 - Derivative Instrumen_5
Note 6 - Derivative Instruments - Change in Fair Value of Derivatives (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Gain (losses) from derivative instruments | $ (17.9) | $ 56.2 | $ (27.9) |
Futures [Member] | |||
Gain (losses) from derivative instruments | (7) | 40.8 | (24.6) |
Credit Default Swaps [Member] | |||
Gain (losses) from derivative instruments | (6.5) | 3.7 | (1.6) |
Total Return Swaps [Member] | |||
Gain (losses) from derivative instruments | (12.8) | 21.3 | (13.3) |
Foreign Currency, Forward Contracts and Swaps [Member] | |||
Gain (losses) from derivative instruments | $ 8.4 | $ (9.6) | $ 11.6 |
Note 6 - Derivative Instrumen_6
Note 6 - Derivative Instruments - Derivative Assets and Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Derivative assets | $ 6.7 | $ 0.1 |
Not Designated as Hedging Instrument [Member] | ||
Derivative assets | 1.8 | 5.3 |
Derivative liabilities | 16.7 | 4 |
Seeded Investment Products [Member] | ||
Derivative liabilities | $ 1.2 | $ 0.6 |
Note 7 - Property, Equipment _3
Note 7 - Property, Equipment and Software - Depreciation Expense (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Depreciation expense | $ 18.4 | $ 21.6 | $ 23.5 |
Note 7 - Property, Equipment _4
Note 7 - Property, Equipment and Software - Property, Equipment and Software (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Property, equipment and software, gross | $ 201.1 | $ 142.1 |
Accumulated depreciation | (156.9) | (90.3) |
Property, equipment and software, net | 44.2 | 51.8 |
Furniture, Fixtures, and Computer Equipment [Member] | ||
Property, equipment and software, gross | $ 50.1 | 23.9 |
Furniture, Fixtures, and Computer Equipment [Member] | Maximum [Member] | ||
Useful life (Year) | 3 years | |
Furniture, Fixtures, and Computer Equipment [Member] | Minimum [Member] | ||
Useful life (Year) | 10 years | |
Leasehold Improvements [Member] | ||
Property, equipment and software, gross | $ 47.7 | 27.6 |
Computer Equipment [Member] | ||
Property, equipment and software, gross | $ 103.3 | $ 90.6 |
Computer Equipment [Member] | Maximum [Member] | ||
Useful life (Year) | 3 years | |
Computer Equipment [Member] | Minimum [Member] | ||
Useful life (Year) | 7 years |
Note 8 - Goodwill and Intangi_3
Note 8 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 |
Disposal Group, Including Discontinued Operation, Goodwill | $ 0 | $ 7 | |
Finite-Lived Intangible Assets, Net | $ 6.5 | ||
Intech Investment Management LLC [Member] | |||
Disposal Group, Including Discontinued Operation, Goodwill | $ 7 | ||
Customer Relationships [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 15 years | ||
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 | $ 2.6 | $ 84.8 | |
Client Relationships [Member] | Intech Investment Management LLC [Member] | |||
Disposal Group, Including Discontinued Operation, Intangible Assets | $ 40.1 |
Note 8 - Goodwill and Intangi_4
Note 8 - Goodwill and Intangible Assets - Intangible Assets and Goodwill (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Intangible assets, amortization | $ (1.7) | $ (3.7) |
Accumulated amortization, balance | (60.7) | (107.2) |
Accumulated amortization, disposals | 2.6 | 44.7 |
Accumulated amortization | (2.3) | (5.5) |
Accumulated amortization, balance | (62.1) | (60.7) |
Net intangible assets, balance | 2,414.7 | 2,542.7 |
Net intangible assets, disposals | 0 | (44.8) |
Net intangible assets | 18.3 | (43.7) |
Net intangible assets, balance | 2,431.3 | 2,414.7 |
Goodwill, balance | 1,253.1 | 1,341.5 |
Goodwill, disposals | 0 | (7) |
Goodwill | 37.2 | (81.4) |
Goodwill, balance | 1,290.3 | 1,253.1 |
Accumulated amortization, foreign currency translation | 2.3 | 5.5 |
Impairment on intangible assets | (35.8) | |
Net intangible assets, foreign currency translation | 18.3 | (43.7) |
Goodwill, impairment | 0 | |
Goodwill, foreign currency translation | 37.2 | (81.4) |
Client Relationships [Member] | ||
Intangible assets, disposals | (2.6) | (84.8) |
Foreign currency translation | 2.3 | (6.8) |
Balance | 68.9 | 168.4 |
Intangible assets, amortization | 0 | 0 |
Balance | 68.6 | 68.9 |
Foreign currency translation | 2.3 | (6.8) |
Impairment on definite intangible assets | (7.9) | |
Investment Management Agreements [Member] | ||
Balance | 2,046.5 | 2,114.8 |
Intangible assets, disposals | 0 | 0 |
Foreign currency translation | 18.3 | (42.4) |
Balance | 2,064.8 | 2,046.5 |
Impairment on indefinite intangible assets | 25.9 | |
Foreign currency translation | 18.3 | (42.4) |
Trademarks [Member] | ||
Balance | 360 | 366.7 |
Intangible assets, disposals | 0 | (4.7) |
Foreign currency translation | 0 | 0 |
Balance | 360 | 360 |
Impairment on indefinite intangible assets | 2 | |
Foreign currency translation | $ 0 | $ 0 |
Note 9 - Leases (Details Textua
Note 9 - Leases (Details Textual) | 12 Months Ended |
Dec. 31, 2023 | |
Minimum [Member] | |
Lessee, Remaining Lease Term (Year) | 1 year |
Maximum [Member] | |
Lessee, Remaining Lease Term (Year) | 10 years |
Note 9 - Leases - Lease Balance
Note 9 - Leases - Lease Balance Sheet Disclosure (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Operating lease liabilities, noncurrent | $ 54.8 | $ 67.1 |
Total operating lease liabilities | 77.8 | 90.8 |
Total finance lease liabilities | 0.3 | 2.2 |
Other Noncurrent Assets [Member] | ||
Operating lease, right-of-use assets | 69.5 | 79.7 |
Accounts Payable and Accrued Liabilities [Member] | ||
Operating lease liabilities, current | 23 | 23.7 |
Finance lease liabilities, current | 0.1 | 0.8 |
Other Noncurrent Liabilities [Member] | ||
Operating lease liabilities, noncurrent | 54.8 | 67.1 |
Finance lease liabilities, noncurrent | 0.2 | 1.4 |
Property and Equipment [Member] | ||
Finance lease, right-of-use assets, gross | 0.6 | 16.3 |
Finance lease, right-of-use assets, accumulated depreciation | (0.3) | (14.2) |
Finance lease, right-of-use assets, net | $ 0.3 | $ 2.1 |
Note 9 - Leases - Lease Cost (D
Note 9 - Leases - Lease Cost (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Amortization of ROU asset(2) | $ 0.5 | $ 0.8 | $ 0.5 | |
Sublease income | 4.3 | 5.9 | 7.2 | |
Operating cash flows from operating leases | 29.4 | 26.9 | 27.9 | |
Financing cash flows from finance leases | 0.4 | 0.9 | 0.4 | |
Increase (decrease) in ROU assets related to modified operating lease liabilities | $ 2.7 | $ (3.2) | 11.4 | |
Operating leases (Month) | 51 months | 57 months | ||
Finance leases (Month) | 37 months | 38 months | ||
Operating leases | 2.50% | 4.30% | ||
Finance leases | 4% | 2.20% | ||
General and Administrative Expense [Member] | ||||
Operating lease cost(1) | [1],[2] | $ 22.6 | $ 27.5 | $ 30.2 |
[1]Included in depreciation and amortization in our Consolidated Statements of Comprehensive Income.[2]Included in general, administrative and occupancy in our Consolidated Statements of Comprehensive Income. |
Note 9 - Leases - Future Lease
Note 9 - Leases - Future Lease Amortization Costs (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | |
Operating lease, 2024 | [1] | $ 24.1 | |
Operating lease, 2025 | 18.1 | ||
Operating lease, 2026 | 14.5 | ||
Operating lease, 2027 | 13.4 | ||
Operating lease, 2028 | 10.3 | ||
Operating lease, thereafter | 1.7 | ||
Operating lease payments | 82.1 | ||
Operating lease, less interest | 4.3 | ||
Operating lease liability | $ 77.8 | $ 90.8 | |
[1]The future lease obligations for finance leases are immaterial as of December 31, 2023. |
Note 10 - Fair Value Measurem_3
Note 10 - Fair Value Measurements - Level of Fair Value (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | ||
Total investment securities | $ 334.2 | $ 261.6 | ||
Derivative assets | 6.7 | 0.1 | ||
Securities sold, not yet purchased | 1.7 | 0.5 | ||
Variable Interest Entity, Primary Beneficiary [Member] | ||||
Total investment securities | 382.4 | 334.3 | ||
Fair Value, Recurring [Member] | ||||
Cash equivalents | 894.4 | 688.4 | ||
Total investment securities | 716.6 | 595.9 | ||
Total assets | 1,620.5 | 1,303.2 | ||
Securities sold, not yet purchased | 1.7 | 0.5 | ||
Long-term debt | 298 | 295.4 | ||
Total liabilities | 435.9 | 348.1 | ||
Contingent consideration from sale of subsidiaries | 12.3 | |||
Fair Value, Recurring [Member] | Seed Hedge Derivatives [Member] | ||||
Derivative assets | 1.8 | 5.3 | ||
Derivative liabilities | 16.7 | 4 | ||
Fair Value, Recurring [Member] | Derivatives Used in Consolidated Seeded Investment Products [Member] | ||||
Derivative assets | 6.7 | 0.1 | ||
Derivative liabilities | 1.2 | 0.6 | ||
Fair Value, Recurring [Member] | Privacore [Member] | ||||
Derivative assets | 1 | |||
Fair Value, Recurring [Member] | Foreign Currency, Forward Contracts and Swaps [Member] | ||||
Derivative assets | 0.7 | 0.4 | ||
Derivative liabilities | 1.1 | |||
Fair Value, Recurring [Member] | Options [Member] | ||||
Derivative assets | 0.8 | |||
Fair Value, Recurring [Member] | Deferred Bonuses Hedge [Member] | ||||
Derivative liabilities | 117.6 | 46.5 | ||
Fair Value, Recurring [Member] | Other Investment Securities [Member] | ||||
Total investment securities | 334.2 | 261.6 | ||
Fair Value, Recurring [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||||
Total investment securities | 382.4 | 334.3 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Cash equivalents | 894.4 | 688.4 | ||
Total investment securities | 529.8 | 447.3 | ||
Total assets | 1,424.2 | 1,135.7 | ||
Securities sold, not yet purchased | 1.7 | 0.5 | ||
Long-term debt | 0 | 0 | [1] | |
Total liabilities | 1.7 | 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] | Privacore [Member] | ||||
Derivative assets | 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 | |||
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 | 212.2 | 171.9 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||||
Total investment securities | 317.6 | 275.4 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Cash equivalents | 0 | 0 | ||
Total investment securities | 186.7 | 143.4 | ||
Total assets | 195.2 | 149.2 | ||
Securities sold, not yet purchased | 0 | 0 | ||
Long-term debt | 298 | [1] | 295.4 | |
Total liabilities | 316.6 | 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 | 1.8 | 5.3 | ||
Derivative liabilities | 16.7 | 4 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Derivatives Used in Consolidated Seeded Investment Products [Member] | ||||
Derivative assets | 6.7 | 0.1 | ||
Derivative liabilities | 1.2 | 0.6 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Privacore [Member] | ||||
Derivative assets | 0 | |||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Foreign Currency, Forward Contracts and Swaps [Member] | ||||
Derivative assets | 0.7 | 0.4 | ||
Derivative liabilities | 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 | 122 | 89.4 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||||
Total investment securities | 64.7 | 54 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Cash equivalents | 0 | 0 | ||
Total investment securities | 0.1 | 5.2 | ||
Total assets | 1.1 | 18.3 | ||
Securities sold, not yet purchased | 0 | 0 | ||
Long-term debt | 0 | 0 | ||
Total liabilities | 117.6 | 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] | Privacore [Member] | ||||
Derivative assets | 1 | |||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Foreign Currency, Forward Contracts and Swaps [Member] | ||||
Derivative assets | 0 | 0 | ||
Derivative liabilities | 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 | 117.6 | 46.5 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other Investment Securities [Member] | ||||
Total investment securities | 0 | 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 in our Consolidated Balance Sheets and disclosed in this table at fair value. |
Note 10 - Fair Value Measurem_4
Note 10 - Fair Value Measurements - Changes in Level 3 Assets (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Beginning of period fair value | $ 18.3 | $ 8.8 |
Contingent consideration from sale of subsidiaries | 0 | 12.1 |
Settlement of contingent consideration | (0.2) | 0 |
Fair value adjustments | (12.1) | (1.2) |
Transfers from Level 1 | 0.2 | 0.3 |
Transfers to Level 1 | (4.8) | (2.1) |
Purchases of securities | 0 | 1 |
Sales of securities | (0.3) | (0.3) |
Foreign currency translation | 0 | (0.3) |
End of period fair value | $ 1.1 | $ 18.3 |
Note 10 - Fair Value Measurem_5
Note 10 - Fair Value Measurements - Changes in Level 3 Liabilities (Details) - Deferred Bonuses [Member] - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Beginning of period fair value | $ 46.5 | $ 50.5 |
Fair value adjustments | 9 | (2.1) |
Vesting of deferred bonuses | (34.7) | (36.5) |
Amortization of deferred bonuses | 58.6 | 38 |
Foreign currency translation | 2.4 | (3.4) |
Additions | 35.8 | 0 |
End of period fair value | $ 117.6 | $ 46.5 |
Note 11 - Debt (Details Textual
Note 11 - Debt (Details Textual) $ in Thousands | 12 Months Ended |
Dec. 31, 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, Face Amount | $ 300,000 |
Debt Instrument, Interest Rate, Stated Percentage | 4.875% |
Senior Notes, 4.876 Percent, Due 2025 [Member] | Janus Capital Group Inc. [Member] | |
Debt Instrument, Unamortized Premium | $ 4,600 |
Note 11 - Debt - Schedule of De
Note 11 - Debt - Schedule of Debt (Details) - Senior Notes, 4.876 Percent, Due 2025 [Member] - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Long-term debt | $ 304.6 | $ 307.5 |
Long-term debt, fair value | $ 298 | $ 295.4 |
Note 12 - Income Taxes (Details
Note 12 - Income Taxes (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 6.3 | ||
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | 5.8 | $ 3.9 | $ 2.6 |
Non Cash Deferred Tax Expense (Benefit) | $ (8.8) | ||
State and Local Jurisdiction [Member] | |||
Open Tax Year | 2013 20142015 2016 2017 2018 2019 2020 2021 2022 2023 2024 | ||
Her Majesty's Revenue and Customs (HMRC) [Member] | |||
Operating Loss Carryforwards | $ 294.7 | ||
Open Tax Year | 2019 2020 2021 2022 2023 | ||
Internal Revenue Service (IRS) [Member] | |||
Open Tax Year | 2020 2021 2022 2023 2024 |
Note 12 - Income Taxes - Schedu
Note 12 - Income Taxes - Schedule of Components of Income Tax (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Total current income taxes | $ 106.3 | $ 115.2 | $ 207.5 |
Total deferred income benefits | (6.1) | (14.3) | (2.2) |
Total income tax expense | 100.3 | 100.9 | 205.3 |
UNITED KINGDOM | |||
UK | 15.2 | 10.5 | 41.1 |
UK | (4) | (10.3) | 29.6 |
UNITED STATES | |||
U.S., including state and local | 88.1 | 95.9 | 154 |
U.S., including state and local | (2) | 10 | (8.7) |
Other Foreign Countries [Member] | |||
UK | 3 | 8.8 | 12.4 |
UK | $ 0 | $ (14) | $ (23.1) |
Note 12 - Income Taxes - Sche_2
Note 12 - Income Taxes - Schedule of Income Before Income Taxes (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Total income before taxes | $ 527 | $ 375.4 | $ 817.7 |
UNITED KINGDOM | |||
UK | 86.4 | (44.1) | 217.8 |
UNITED STATES | |||
U.S. | 423.4 | 428.7 | 627.1 |
Other Foreign Countries [Member] | |||
UK | $ 17.2 | $ (9.2) | $ (27.2) |
Note 12 - Income Taxes - Effect
Note 12 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) - UNITED KINGDOM | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
UK statutory corporation tax rate | 23.50% | 19% | 19% |
Effect of foreign tax rates | 0.10% | 6.30% | 3.50% |
Equity-based compensation | 0.30% | 0.70% | 0.10% |
Tax adjustments | 0.50% | 2% | 0.40% |
Impact of changes in statutory tax rates on deferred taxes | (1.90%) | (1.30%) | 3.60% |
Taxes applicable to prior years | (1.90%) | (4.50%) | (1.40%) |
Other, net | (1.80%) | 0% | (0.30%) |
Effective income tax rate, controlling interest | 18.80% | 22.20% | 24.90% |
Net loss attributable to noncontrolling interests | 0.20% | 4.70% | 0.20% |
Total effective income tax rate | 19% | 26.90% | 25.10% |
Note 12 - Income Taxes - Deferr
Note 12 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | |
Compensation and staff benefits | [1] | $ 59.8 | $ 57.6 |
Loss carryforwards(1) | [2] | 88.4 | 76.7 |
Accrued liabilities | 7 | 6.3 | |
Debt premium | 1.3 | 2.1 | |
Lease liabilities | 16.8 | 19.6 | |
Other | 4 | 13.9 | |
Gross deferred tax assets | 177.3 | 176.2 | |
Valuation allowance | (76.8) | (68.3) | |
Deferred tax assets, net of valuation allowance | 100.5 | 107.9 | |
Retirement benefits | (21.4) | (24.2) | |
Goodwill and acquired intangible assets | (628.6) | (631.2) | |
Lease ROU assets | (16.2) | (18.9) | |
Other | (3.5) | (7.1) | |
Gross deferred tax liabilities | (669.7) | (681.4) | |
Total deferred tax liabilities(2) | (569.2) | (573.5) | |
Deferred tax liabilities, net | (570.8) | (574.6) | |
Total deferred tax liabilities | (569.2) | (573.5) | |
Other Noncurrent Assets [Member] | |||
Deferred tax assets, net (included in other non-current assets) | $ 1.6 | $ 1.1 | |
[1]The majority of the 2023 loss carryforward relates to the UK capital loss of $294.7 million, before tax effects, which may be carried forward without time limitation. There is a full valuation allowance against UK capital losses.[2]The change in the net deferred tax liabilities does not equal the deferred tax expense due to the foreign currency translation adjustment on deferred tax liabilities booked through equity. |
Note 12 - Income Taxes - Summar
Note 12 - Income Taxes - Summary of Income Tax Contingencies (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Beginning balance | $ 26.7 | $ 19.2 | $ 15.8 |
Additions for tax positions of current year | 6.9 | 9.7 | 5 |
Reduction due to settlement with taxing authorities | (0.3) | (1.4) | (1.2) |
Reduction due to statute expirations | (4.6) | (0.5) | (0.4) |
Total change due to true up | (0.1) | 0 | 0 |
Total removed due to audit payment | (0.4) | 0 | 0 |
Foreign currency translation | 0.2 | 0.3 | 0 |
Foreign currency translation | (0.2) | (0.3) | 0 |
Ending balance | $ 28.4 | $ 26.7 | $ 19.2 |
Note 13 - Other Financial Sta_3
Note 13 - Other Financial Statement Captions (Details Textual) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Other Assets, Noncurrent | $ 187.6 | $ 205.5 |
Note 13 - Other Financial Sta_4
Note 13 - Other Financial Statement Captions - Schedule of Other Current Assets (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Prepaid expenses | $ 69.9 | $ 42.4 |
Current corporation tax | 26.5 | 31.1 |
Derivatives (including collateral and margin) | 41.5 | 22 |
Other current assets | 36.6 | 24.8 |
Total other current assets | $ 174.5 | $ 120.3 |
Note 13 - Other Financial Sta_5
Note 13 - Other Financial Statement Captions - Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Accrued distribution commissions | $ 58.6 | $ 60.9 |
Accrued rebates | 17.2 | 18.7 |
Other accrued liabilities | 63.6 | 72 |
Total other accrued liabilities | 139.4 | 151.6 |
Current corporation tax (including interest) | 11.9 | 14.9 |
Operating and financing leases | 23.1 | 24.5 |
Derivatives | 17.5 | 5.1 |
Other current liabilities | 39.5 | 36.5 |
Total accounts payable and accrued liabilities | $ 231.4 | $ 232.6 |
Note 13 - Other Financial Sta_6
Note 13 - Other Financial Statement Captions - Other Noncurrent Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Non-current tax liabilities (including interest) | $ 22.9 | $ 23 |
Operating lease liabilities, noncurrent | 54.8 | 67.1 |
Other creditors | 9.7 | 8.7 |
Total other non-current liabilities | $ 87.4 | $ 98.8 |
Note 14 - Noncontrolling Inte_3
Note 14 - Noncontrolling Interests - Redeemable Noncontrolling Interest (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Total redeemable noncontrolling interests | $ 317.2 | $ 233.9 | $ 148.5 | $ 70.6 |
Consolidated Entity, Excluding VIE [Member] | ||||
Total redeemable noncontrolling interests | $ 317.2 | $ 233.9 |
Note 14 - Noncontrolling Inte_4
Note 14 - Noncontrolling Interests - Schedule of Changes in Noncontrolling Interests (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Opening balance | $ 233.9 | $ 148.5 | $ 70.6 |
Changes in market value | 34.8 | (97.9) | (6.2) |
Changes in ownership | 46.5 | 184.2 | 84.3 |
Foreign currency translation | 2 | (0.9) | (0.2) |
Closing balance | $ 317.2 | $ 233.9 | $ 148.5 |
Note 15 - Long-Term Incentive_3
Note 15 - Long-Term Incentive and Employee Compensation (Details Textual) $ in Millions | 12 Months Ended |
Dec. 31, 2023 USD ($) | |
Mutual Fund Awards [Member] | |
Share Based Compensation Arrangement by Share Based Payment Award, Equity Instruments Other than Options Value of Grants in Period | $ 153.2 |
Performance Shares [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years |
Minimum [Member] | Restricted Stock [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years |
Minimum [Member] | Time Based Mutual Fund Awards [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years |
Maximum [Member] | Restricted Stock [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years |
Maximum [Member] | Time Based Mutual Fund Awards [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years |
Deferred Incentive Plan [Member] | |
Deferred Compensation Arrangement with Individual, Requisite Service Period (Year) | 3 years |
Number Of Tranches | 3 |
Deferred Incentive Plan [Member] | Minimum [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years |
Deferred Incentive Plan [Member] | Maximum [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years |
Note 15 - Long-term Incentive C
Note 15 - Long-term Incentive Compensation - Compensation Plans (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Stock-based payments expense | $ 74.9 | $ 90.3 | $ 67.9 |
Liability settled | 77.4 | 90.6 | 68.2 |
Profits Interests and Other | 0.7 | (3.9) | 2.9 |
Social Security costs | 9.5 | 10.5 | 12.9 |
Total long-term incentive compensation expense | 167.4 | 180.7 | 181 |
Deferred Incentive Plan [Member] | |||
Stock-based payments expense | 70.6 | 84 | 52.1 |
Liability settled | 81.5 | 84.7 | 71.3 |
Deferred Equity Plan [Member] | |||
Stock-based payments expense | 0 | 0.3 | 2.8 |
Liability settled | 0 | 0.6 | 13.1 |
Restricted Stock Awards [Member] | |||
Stock-based payments expense | 0 | 1.9 | 8.8 |
Other Share Based Award Plan [Member] | |||
Stock-based payments expense | 4.3 | 4.1 | 4.2 |
Mutual Fund Awards [Member] | |||
Liability settled | $ 0.8 | $ (1.5) | $ 12.9 |
Note 15 - Long-term Incentive_4
Note 15 - Long-term Incentive Compensation - ESOP and RSA (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2023 USD ($) | |
Unrecognized long-term incentive compensation expense | $ 106.7 |
Unrecognized long-term incentive compensation expense, weighted average years (Year) | 1 year 6 months |
Other Share Based Award Plan [Member] | |
Unrecognized long-term incentive compensation expense | $ 2.5 |
Unrecognized long-term incentive compensation expense, weighted average years (Year) | 1 year 3 months 18 days |
Share-Based Payment Arrangement [Member] | |
Unrecognized long-term incentive compensation expense | $ 46.6 |
Unrecognized long-term incentive compensation expense, weighted average years (Year) | 1 year 8 months 12 days |
Social Security Costs [Member] | |
Unrecognized long-term incentive compensation expense | $ 16.8 |
Unrecognized long-term incentive compensation expense, weighted average years (Year) | 8 months 12 days |
Deferred Incentive Plan [Member] | |
Unrecognized long-term incentive compensation expense | $ 44.1 |
Unrecognized long-term incentive compensation expense, weighted average years (Year) | 1 year 8 months 12 days |
Deferred Incentive Plan, Liabilities Settled [Member] | |
Unrecognized long-term incentive compensation expense | $ 43.3 |
Unrecognized long-term incentive compensation expense, weighted average years (Year) | 1 year 6 months |
Note 15 - Long-term Incentive_5
Note 15 - Long-term Incentive Compensation - Schedule Stock Option Valuation Assumptions (Details) - £ / shares | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Fair value of options granted (in GBP per share) | £ 6.2 | £ 9.25 | £ 10.28 |
Dividend yield | 5.89% | 4.27% | 3.68% |
Expected volatility | 45.33% | 41.82% | 41.37% |
Risk-free interest rate | 3.47% | 1.43% | 0.17% |
Expected life (years) (Year) | 3 years 1 month 28 days | 3 years 2 months 1 day | 3 years |
Note 15 - Long-term Incentive_6
Note 15 - Long-term Incentive Compensation - Option Activity (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Outstanding (in shares) | 386,584 | 492,889 | 1,255,398 |
Outstanding (in dollars per share) | $ 19.18 | $ 20.83 | $ 27.13 |
Granted (in shares) | 137,019 | 127,903 | 83,648 |
Granted (in dollars per share) | $ 21.67 | $ 24.83 | $ 23.85 |
Exercised (in shares) | (201,795) | (193,821) | (418,292) |
Exercised (in dollars per share) | $ 14.95 | $ 24.34 | $ 29.04 |
Forfeited (in shares) | (36,854) | (40,387) | (427,865) |
Forfeited (in dollars per share) | $ 23.37 | $ 22.78 | $ 36.87 |
Outstanding (in shares) | 284,954 | 386,584 | 492,889 |
Outstanding (in dollars per share) | $ 22.82 | $ 19.18 | $ 20.83 |
Exercisable(1) (in shares) | 5,954 | 32,710 | 92,630 |
Exercisable(1) (in dollars per share) | $ 8.23 | $ 10.46 | $ 26.62 |
Vested or expected to vest (in shares) | 284,954 | 386,584 | 92,630 |
Vested or expected to vest (in dollars per share) | $ 22.82 | $ 19.18 | $ 26.62 |
Note 15 - Long-term Incentive_7
Note 15 - Long-term Incentive Compensation - Summary of Grant Date Value of Options (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Exercised | $ 2.4 | $ 1.3 | $ 0.3 |
Outstanding | 2.3 | 2.4 | 7.4 |
Exercisable | $ 0.1 | $ 0.5 | $ 1 |
Note 15 - Long-term Incentive P
Note 15 - Long-term Incentive Plan - Unvested Stock Activity (Details) - Deferred Equity Plan [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Performance Shares [Member] | |||
Outstanding (in shares) | 50,900 | 258,024 | 264,695 |
Outstanding (in dollars per share) | $ 29.38 | $ 24.31 | $ 26.07 |
Granted (in shares) | 333,389 | 0 | 77,228 |
Granted (in dollars per share) | $ 27.44 | $ 0 | $ 29.38 |
Vested (in shares) | (50,900) | (246,961) | (59,903) |
Vested (in dollars per share) | $ 29.38 | $ 22.28 | $ 34.52 |
Forfeited (in shares) | (56,852) | 0 | 0 |
Forfeited (in dollars per share) | $ 27.44 | $ 0 | $ 0 |
Outstanding (in shares) | 276,537 | 50,900 | 258,024 |
Outstanding (in dollars per share) | $ 27.44 | $ 29.38 | $ 24.31 |
Adjustment to shares granted due to performance measures (in shares) | 0 | 39,837 | (23,996) |
Adjustment to shares granted due to performance measures (in dollars per share) | $ 0 | $ 24.55 | $ 34.52 |
DIP, DEP and RSA [Member] | |||
Outstanding (in shares) | 5,641,839 | 4,949,927 | 5,602,828 |
Outstanding (in dollars per share) | $ 29.99 | $ 26.42 | $ 24.56 |
Granted (in shares) | 2,141,254 | 3,581,420 | 2,285,257 |
Granted (in dollars per share) | $ 27.08 | $ 32.44 | $ 29.94 |
Vested (in shares) | (2,669,197) | (2,733,825) | (2,699,721) |
Vested (in dollars per share) | $ 27.93 | $ 26.29 | $ 26.78 |
Forfeited (in shares) | (229,409) | (155,683) | (238,437) |
Forfeited (in dollars per share) | $ 29.7 | $ 31.48 | $ 27.37 |
Outstanding (in shares) | 4,884,487 | 5,641,839 | 4,949,927 |
Outstanding (in dollars per share) | $ 29.86 | $ 29.99 | $ 26.42 |
Note 16 - Retirement Benefit _3
Note 16 - Retirement Benefit Plans (Details Textual) £ in Millions, $ in Millions | 12 Months Ended | 24 Months Ended | |||||
Sep. 05, 2019 USD ($) | Sep. 05, 2019 GBP (£) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2023 USD ($) | Jan. 01, 2022 USD ($) | |
Number of Plans | 2 | ||||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 5% | ||||||
Defined Contribution Plan, Cost | $ 8.1 | $ 8.6 | $ 8.3 | ||||
Expected Rate of Return on Plan Assets | 4.40% | ||||||
Pension Plan [Member] | |||||||
Defined Benefit Plan Surplus On Triennial Valuation Of H G P S | 2.4 | ||||||
Defined Benefit Plan, Benefit Obligation, Payment for Settlement | $ 3.2 | 9.7 | |||||
Pension Buy In Agreement Premium Amount | $ 404 | £ 328 | |||||
Defined Benefit Plan, Plan Assets, Amount | 696.4 | 660.5 | 1,142.6 | $ 696.4 | $ 660.5 | ||
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss) | 39.6 | $ (123.7) | |||||
Expected Rate of Return on Plan Assets | 1.60% | ||||||
Defined Benefit Plan, Plan Assets, Contributions by Employer, Excluding Credits to Member's Money Purchase Accounts | 2.1 | ||||||
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | $ 2.1 | $ 2.1 | |||||
Pension Plan [Member] | Fixed Income Investments [Member] | |||||||
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage | 100% | 80% | 100% | ||||
Defined Benefit Plan, Plan Assets, Amount | $ 300.6 | $ 300.6 | 249.3 | ||||
Pension Plan [Member] | Growth Portfolio [Member] | |||||||
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage | 20% | ||||||
Pension Plan [Member] | Bulk Annuity Policy [Member] | |||||||
Defined Benefit Plan, Plan Assets, Amount | 240.7 | $ 230.7 | $ 240.7 | $ 230.7 | |||
Defined Benefit Plan, Interest on Bulk Annuity Asset | 13.2 | ||||||
Defined Benefit Plan Change in Financial Conditions | 3.3 | ||||||
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss) | 13 | ||||||
Defined Benefit Plan Change in Demographic Assumptions | 5 | ||||||
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Purchase, Sale, and Settlement | 14.4 | ||||||
Foreign Plan [Member] | |||||||
Defined Contribution Plan, Contribution Amount | $ 14 | $ 15.7 | $ 19 |
Note 16 - Retirement Benefit _4
Note 16 - Retirement Benefit Plans - Plan Assets and Benefit Obligations (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Interest cost | $ (27.6) | $ (16.9) | $ (13.5) |
Pension Plan [Member] | |||
Fair value of plan assets | 660.5 | 1,142.6 | |
Return on plan assets | 15.2 | (335) | |
Employer contributions | 2.2 | 2.1 | |
Benefits paid | (17.9) | (15.8) | |
Settlements | (3.2) | (9.7) | |
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss) | 39.6 | (123.7) | |
Fair value of plan assets | 696.4 | 660.5 | 1,142.6 |
Benefit obligation as of January 1 | (565.6) | (975.2) | |
Interest cost | (27.6) | (16.9) | |
Defined Benefit Plan, Benefit Obligation, Payment for Settlement | 3.2 | 9.7 | |
Benefits paid | 17.9 | 15.8 | |
Actuarial (loss)/gain | (5.1) | 295.4 | |
Foreign currency translation | (33.9) | 105.6 | |
Benefit obligation as of December 31 | (611.1) | (565.6) | $ (975.2) |
Funded status as of year-end | 85.3 | 94.9 | |
Net retirement benefit asset recognized in the Consolidated Balance Sheets | $ 85.3 | $ 94.9 |
Note 16 - Retirement Benefit _5
Note 16 - Retirement Benefit Plans - Schedule of Amounts Recognized in Balance Sheet (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Retirement benefit asset, net | $ 87.6 | $ 97.9 |
Pension Plan [Member] | ||
Retirement benefit asset, net | 87.6 | 97.9 |
Janus Henderson Group unapproved pension scheme | (2.3) | (3) |
Net retirement benefit asset recognized in the Consolidated Balance Sheets | $ 85.3 | $ 94.9 |
Note 16 - Retirement Benefit _6
Note 16 - Retirement Benefit Plans - Assumptions Used in Determining Benefit Obligation (Details) - Pension Plan [Member] | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Discount rate | 4.50% | 4.80% |
Inflation — Retail Price Index (“RPI”) | 3.10% | 3.30% |
Inflation — Consumer Price Index (“CPI”) | 2.50% | 2.70% |
Pension increases (RPI capped at 5% per annum (“p.a.”)) | 3% | 3.20% |
Pension increases (RPI capped at 2.5% p.a.) | 2.10% | 2.10% |
Life expectancy of male aged 60 at accounting date (Year) | 29 years 1 month 6 days | 29 years 4 months 24 days |
Life expectancy of male aged 60 in 15 years’ time (Year) | 30 years 1 month 6 days | 30 years 3 months 18 days |
Note 16 - Retirement Benefit _7
Note 16 - Retirement Benefit Plans - Allocation of Plan Assets (Details) - Pension Plan [Member] - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 | Dec. 31, 2021 |
Defined benefit plan assets, fair value | $ 696.4 | $ 660.5 | $ 660.5 | $ 1,142.6 |
Defined Benefit Plan, Cash and Cash Equivalents [Member] | ||||
Defined benefit plan assets, fair value | 19.9 | 1.8 | ||
Money Market Funds [Member] | ||||
Defined benefit plan assets, fair value | 7.8 | 8 | ||
Bulk Annuity Policy [Member] | ||||
Defined benefit plan assets, fair value | 240.7 | $ 230.7 | 230.7 | |
Fixed Income Investments [Member] | ||||
Defined benefit plan assets, fair value | 300.6 | 249.3 | ||
Equity Funds [Member] | ||||
Defined benefit plan assets, fair value | $ 127.4 | $ 170.7 |
Note 16 - Retirement Benefit _8
Note 16 - Retirement Benefit Plans - Fair Value of Plan Assets (Details) - Pension Plan [Member] - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 | Dec. 31, 2021 |
Defined benefit plan assets, fair value | $ 696.4 | $ 660.5 | $ 660.5 | $ 1,142.6 |
Fair Value, Recurring [Member] | ||||
Defined benefit plan assets, fair value | 696.4 | 660.5 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Defined benefit plan assets, fair value | 455.7 | 429.8 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Defined benefit plan assets, fair value | 0 | 0 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Defined benefit plan assets, fair value | 240.7 | 230.7 | ||
Defined Benefit Plan, Cash and Cash Equivalents [Member] | ||||
Defined benefit plan assets, fair value | 19.9 | 1.8 | ||
Defined Benefit Plan, Cash and Cash Equivalents [Member] | Fair Value, Recurring [Member] | ||||
Defined benefit plan assets, fair value | 19.9 | 1.8 | ||
Defined Benefit Plan, Cash and Cash Equivalents [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Defined benefit plan assets, fair value | 19.9 | 1.8 | ||
Defined Benefit Plan, Cash and Cash Equivalents [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Defined benefit plan assets, fair value | 0 | 0 | ||
Defined Benefit Plan, Cash and Cash Equivalents [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Defined benefit plan assets, fair value | 0 | 0 | ||
Money Market Funds [Member] | ||||
Defined benefit plan assets, fair value | 7.8 | 8 | ||
Money Market Funds [Member] | Fair Value, Recurring [Member] | ||||
Defined benefit plan assets, fair value | 7.8 | 8 | ||
Money Market Funds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Defined benefit plan assets, fair value | 7.8 | 8 | ||
Money Market Funds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Defined benefit plan assets, fair value | 0 | 0 | ||
Money Market Funds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Defined benefit plan assets, fair value | 0 | 0 | ||
Bulk Annuity Policy [Member] | ||||
Defined benefit plan assets, fair value | 240.7 | 230.7 | 230.7 | |
Bulk Annuity Policy [Member] | Fair Value, Recurring [Member] | ||||
Defined benefit plan assets, fair value | 240.7 | 230.7 | ||
Bulk Annuity Policy [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Defined benefit plan assets, fair value | 0 | 0 | ||
Bulk Annuity Policy [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Defined benefit plan assets, fair value | 0 | 0 | ||
Bulk Annuity Policy [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Defined benefit plan assets, fair value | 240.7 | 230.7 | ||
Fixed Income Investments [Member] | ||||
Defined benefit plan assets, fair value | 300.6 | 249.3 | ||
Fixed Income Investments [Member] | Fair Value, Recurring [Member] | ||||
Defined benefit plan assets, fair value | 300.6 | 249.3 | ||
Fixed Income Investments [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Defined benefit plan assets, fair value | 300.6 | 249.3 | ||
Fixed Income Investments [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Defined benefit plan assets, fair value | 0 | 0 | ||
Fixed Income Investments [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Defined benefit plan assets, fair value | 0 | 0 | ||
Equity Funds [Member] | ||||
Defined benefit plan assets, fair value | 127.4 | $ 170.7 | ||
Equity Funds [Member] | Fair Value, Recurring [Member] | ||||
Defined benefit plan assets, fair value | 127.4 | 170.7 | ||
Equity Funds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Defined benefit plan assets, fair value | 127.4 | 170.7 | ||
Equity Funds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Defined benefit plan assets, fair value | 0 | 0 | ||
Equity Funds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Defined benefit plan assets, fair value | $ 0 | $ 0 |
Note 16 - Retirement Benefit _9
Note 16 - Retirement Benefit Plans - Actuarial Gains and Losses (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Amortization of actuarial loss | $ 0.5 | $ 0 | $ 0 |
Pension Plan [Member] | |||
Accumulated unamortized actuarial loss | (70.4) | (32.8) | |
Actuarial loss | (18.8) | (53.1) | |
Tax at source on current year actuarial gain | 3.5 | 15.1 | |
Prior service cost | 0.5 | 0.4 | |
Amortization of actuarial loss | 0.5 | 0 | |
Accumulated unamortized actuarial loss | $ (84.7) | $ (70.4) | $ (32.8) |
Note 16 - Retirement Benefit_10
Note 16 - Retirement Benefit Plans - Net Periodic Benefit Cost (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Service cost | $ 0 | $ 0 | $ (0.6) |
Settlement loss | 0 | 0 | (1.1) |
Curtailment loss | 0 | 0 | (0.3) |
Interest cost | (27.6) | (16.9) | (13.5) |
Amortization of actuarial loss | (0.5) | 0 | 0 |
Amortization of prior service cost | (0.4) | (0.4) | (0.4) |
Expected return on plan assets | 28.7 | 13.8 | 11.3 |
Net periodic benefit credit (cost) | 0.2 | (3.5) | (4.6) |
Contributions to money purchase section | (11.6) | (11.5) | (11.3) |
Total cost | (11.4) | (15) | $ (15.9) |
Pension Plan [Member] | |||
Interest cost | (27.6) | (16.9) | |
Amortization of actuarial loss | $ (0.5) | $ 0 | |
Discount rate | 4.80% | 1.90% | 1.30% |
Inflation — salaries | 2.50% | ||
Inflation — RPI | 3.30% | 3.40% | 2.90% |
Inflation — CPI | 2.70% | 2.80% | 2.20% |
Pension increases (RPI capped at 5% p.a.) | 3.20% | 3.30% | 2.90% |
Pension increases (RPI capped at 2.5% p.a.) | 2.10% | 2.20% | 2.10% |
Expected return on plan assets | 4.40% | 1.60% | 1.20% |
Amortization period for net actuarial gains at beginning of the year (Year) | 28 years | 29 years | 9 years |
Note 16 - Retirement Benefit_11
Note 16 - Retirement Benefit Plans - Schedule of Expected Payments (Details) - Pension Plan [Member] $ in Millions | Dec. 31, 2023 USD ($) |
2024 | $ 22.1 |
2025 | 22.4 |
2026 | 23.8 |
2027 | 24.7 |
2028 | 25.1 |
2029-2033 | $ 137.6 |
Note 17 - Accumulated Other C_3
Note 17 - Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Beginning balance | $ 4,359.8 | ||
Total other comprehensive income (loss) | 87.2 | $ (262.7) | $ (72.5) |
Less: other comprehensive loss (income) attributable to noncontrolling interests | 3.1 | (2) | (0.4) |
Ending balance | 4,538.1 | 4,359.8 | |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | |||
Beginning balance | (577.3) | (354.2) | |
Other comprehensive income (loss) | 96.8 | (221) | |
Reclassifications to net income(1) | 4.7 | (4.1) | |
Total other comprehensive income (loss) | 101.5 | (225.1) | |
Less: other comprehensive loss (income) attributable to noncontrolling interests | (3.1) | 2 | |
Ending balance | (478.9) | (577.3) | (354.2) |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||
Beginning balance | (70.4) | (32.8) | |
Other comprehensive income (loss) | (15.2) | (38) | |
Reclassifications to net income(1) | 0.9 | 0.4 | |
Total other comprehensive income (loss) | (14.3) | (37.6) | |
Less: other comprehensive loss (income) attributable to noncontrolling interests | 0 | 0 | |
Ending balance | (84.7) | (70.4) | (32.8) |
AOCI Attributable to Parent [Member] | |||
Beginning balance | (647.7) | (387) | |
Other comprehensive income (loss) | 81.6 | (259) | |
Reclassifications to net income(1) | 5.6 | (3.7) | |
Total other comprehensive income (loss) | 87.2 | (262.7) | |
Less: other comprehensive loss (income) attributable to noncontrolling interests | (3.1) | 2 | |
Ending balance | $ (563.6) | $ (647.7) | $ (387) |
Note 17 - Accumulated Other C_4
Note 17 - Accumulated Other Comprehensive Loss - Schedule of Comprehensive Loss (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2021 | |
Total other comprehensive loss, pre tax | $ (274.7) | $ 81.3 | $ (73.8) |
Total other comprehensive loss, tax | 12 | 5.9 | 1.3 |
Total other comprehensive loss, net | (262.7) | 87.2 | (72.5) |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | |||
Total other comprehensive loss, pre tax | (224.2) | 94.4 | (48.2) |
Total other comprehensive loss, tax | 3.2 | 2.4 | 1.3 |
Total other comprehensive loss, net | (221) | 96.8 | (46.9) |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||
Total other comprehensive loss, pre tax | (46.8) | (18.7) | (23.5) |
Total other comprehensive loss, tax | 8.8 | 3.5 | 0 |
Total other comprehensive loss, net | (38) | (15.2) | (23.5) |
Reclassification to Net Income [Member] | |||
Total other comprehensive loss, pre tax | (3.7) | 5.6 | (2.1) |
Total other comprehensive loss, tax | 0 | 0 | 0 |
Total other comprehensive loss, net | $ (3.7) | $ 5.6 | $ (2.1) |
Note 18 - Earnings and Divide_3
Note 18 - Earnings and Dividends Per Share (Details Textual) | Jan. 31, 2024 $ / shares |
Subsequent Event [Member] | |
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.39 |
Note 18 - Earnings and Divide_4
Note 18 - Earnings and Dividends Per Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Net income attributable to JHG | $ 392 | $ 372.4 | $ 620 |
Allocation of earnings to participating stock-based awards | (11.2) | (11.3) | (17.7) |
Net income attributable to JHG common shareholders | $ 380.8 | $ 361.1 | $ 602.3 |
Weighted-average common shares outstanding — basic (in shares) | 160.4 | 161.7 | 167.9 |
Dilutive effect of nonparticipating stock-based awards (in shares) | 0.1 | 0.3 | 0.6 |
Weighted-average common shares outstanding — diluted (in shares) | 160.5 | 162 | 168.5 |
Basic (in dollars per share) | $ 2.37 | $ 2.23 | $ 3.59 |
Diluted (in dollars per share) | $ 2.37 | $ 2.23 | $ 3.57 |
Note 18 - Earnings and Divide_5
Note 18 - Earnings and Dividends Per Share - Dividends Declared (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Dividends paid (in dollars per share) | $ 1.56 | $ 1.55 | $ 1.5 |
Note 20 - Related Party Trans_3
Note 20 - Related Party Transactions (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Related Party [Member] | |||
Revenues | $ 1,946.5 | $ 2,017.2 | $ 2,507.9 |
Note 20 - Related Party Trans_4
Note 20 - Related Party Transactions - Schedule of Related Party Transactions (Details) - Related Party [Member] - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Accrued income | $ 171.6 | $ 125.3 |
Accounts receivable | $ 68.9 | $ 80.7 |
Note 21 - Geographic Informat_3
Note 21 - Geographic Information (Details Textual) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Intangible Assets, Net (Excluding Goodwill) | $ 2,431.3 | $ 2,414.7 | $ 2,542.7 |
UNITED STATES | |||
Intangible Assets, Net (Excluding Goodwill) | 2,074.2 | 2,074.2 | |
UNITED KINGDOM | |||
Intangible Assets, Net (Excluding Goodwill) | 321.7 | 303.5 | |
AUSTRALIA | |||
Intangible Assets, Net (Excluding Goodwill) | $ 35.4 | $ 37 |
Note 21 - Geographic Informat_4
Note 21 - Geographic Information - Schedule of Revenues and Assets by Geographic Areas (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Operating revenues | $ 2,101.8 | $ 2,203.6 | $ 2,767 |
Long-lived assets | 2,475.5 | 2,466.5 | |
UNITED STATES | |||
Operating revenues | 1,304.3 | 1,324.6 | 1,634.4 |
Long-lived assets | 2,093.9 | 2,099.8 | |
UNITED KINGDOM | |||
Operating revenues | 350.4 | 315.1 | 639.7 |
Long-lived assets | 343 | 326.2 | |
LUXEMBOURG | |||
Operating revenues | 400.6 | 512.5 | 437.2 |
AUSTRALIA | |||
Long-lived assets | 35.9 | 37.5 | |
Other Foreign Countries [Member] | |||
Operating revenues | 46.5 | 51.4 | $ 55.7 |
Long-lived assets | $ 2.7 | $ 3 |