000091420812/312024Q2FALSExbrli:sharesiso4217:USDiso4217:USDxbrli:sharesxbrli:pure00009142082024-01-012024-06-3000009142082024-06-3000009142082023-12-310000914208us-gaap:InvestmentAdviceMember2024-04-012024-06-300000914208us-gaap:InvestmentAdviceMember2023-04-012023-06-300000914208us-gaap:InvestmentAdviceMember2024-01-012024-06-300000914208us-gaap:InvestmentAdviceMember2023-01-012023-06-300000914208us-gaap:DistributionAndShareholderServiceMember2024-04-012024-06-300000914208us-gaap:DistributionAndShareholderServiceMember2023-04-012023-06-300000914208us-gaap:DistributionAndShareholderServiceMember2024-01-012024-06-300000914208us-gaap:DistributionAndShareholderServiceMember2023-01-012023-06-300000914208us-gaap:InvestmentPerformanceMember2024-04-012024-06-300000914208us-gaap:InvestmentPerformanceMember2023-04-012023-06-300000914208us-gaap:InvestmentPerformanceMember2024-01-012024-06-300000914208us-gaap:InvestmentPerformanceMember2023-01-012023-06-300000914208us-gaap:FinancialServiceOtherMember2024-04-012024-06-300000914208us-gaap:FinancialServiceOtherMember2023-04-012023-06-300000914208us-gaap:FinancialServiceOtherMember2024-01-012024-06-300000914208us-gaap:FinancialServiceOtherMember2023-01-012023-06-3000009142082024-04-012024-06-3000009142082023-04-012023-06-3000009142082023-01-012023-06-300000914208us-gaap:AccumulatedTranslationAdjustmentMember2024-04-012024-06-300000914208us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-04-012024-06-3000009142082022-12-3100009142082023-06-300000914208us-gaap:PreferredStockMember2024-03-310000914208us-gaap:CommonStockMember2024-03-310000914208us-gaap:AdditionalPaidInCapitalMember2024-03-310000914208us-gaap:TreasuryStockCommonMember2024-03-310000914208us-gaap:RetainedEarningsMember2024-03-310000914208us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-03-310000914208us-gaap:ParentMember2024-03-310000914208us-gaap:NoncontrollingInterestMember2024-03-3100009142082024-03-310000914208us-gaap:RetainedEarningsMember2024-04-012024-06-300000914208us-gaap:ParentMember2024-04-012024-06-300000914208us-gaap:NoncontrollingInterestMember2024-04-012024-06-300000914208us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-04-012024-06-300000914208us-gaap:AdditionalPaidInCapitalMember2024-04-012024-06-300000914208us-gaap:TreasuryStockCommonMember2024-04-012024-06-300000914208us-gaap:PreferredStockMember2024-06-300000914208us-gaap:CommonStockMember2024-06-300000914208us-gaap:AdditionalPaidInCapitalMember2024-06-300000914208us-gaap:TreasuryStockCommonMember2024-06-300000914208us-gaap:RetainedEarningsMember2024-06-300000914208us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-06-300000914208us-gaap:ParentMember2024-06-300000914208us-gaap:NoncontrollingInterestMember2024-06-300000914208us-gaap:PreferredStockMember2023-03-310000914208us-gaap:CommonStockMember2023-03-310000914208us-gaap:AdditionalPaidInCapitalMember2023-03-310000914208us-gaap:TreasuryStockCommonMember2023-03-310000914208us-gaap:RetainedEarningsMember2023-03-310000914208us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-310000914208us-gaap:ParentMember2023-03-310000914208us-gaap:NoncontrollingInterestMember2023-03-3100009142082023-03-310000914208us-gaap:RetainedEarningsMember2023-04-012023-06-300000914208us-gaap:ParentMember2023-04-012023-06-300000914208us-gaap:NoncontrollingInterestMember2023-04-012023-06-300000914208us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-04-012023-06-300000914208us-gaap:AdditionalPaidInCapitalMember2023-04-012023-06-300000914208us-gaap:TreasuryStockCommonMember2023-04-012023-06-300000914208us-gaap:PreferredStockMember2023-06-300000914208us-gaap:CommonStockMember2023-06-300000914208us-gaap:AdditionalPaidInCapitalMember2023-06-300000914208us-gaap:TreasuryStockCommonMember2023-06-300000914208us-gaap:RetainedEarningsMember2023-06-300000914208us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-300000914208us-gaap:ParentMember2023-06-300000914208us-gaap:NoncontrollingInterestMember2023-06-300000914208us-gaap:PreferredStockMember2023-12-310000914208us-gaap:CommonStockMember2023-12-310000914208us-gaap:AdditionalPaidInCapitalMember2023-12-310000914208us-gaap:TreasuryStockCommonMember2023-12-310000914208us-gaap:RetainedEarningsMember2023-12-310000914208us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310000914208us-gaap:ParentMember2023-12-310000914208us-gaap:NoncontrollingInterestMember2023-12-310000914208us-gaap:RetainedEarningsMember2024-01-012024-06-300000914208us-gaap:ParentMember2024-01-012024-06-300000914208us-gaap:NoncontrollingInterestMember2024-01-012024-06-300000914208us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-06-300000914208us-gaap:AdditionalPaidInCapitalMember2024-01-012024-06-300000914208us-gaap:TreasuryStockCommonMember2024-01-012024-06-300000914208us-gaap:PreferredStockMember2022-12-310000914208us-gaap:CommonStockMember2022-12-310000914208us-gaap:AdditionalPaidInCapitalMember2022-12-310000914208us-gaap:TreasuryStockCommonMember2022-12-310000914208us-gaap:RetainedEarningsMember2022-12-310000914208us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310000914208us-gaap:ParentMember2022-12-310000914208us-gaap:NoncontrollingInterestMember2022-12-310000914208us-gaap:RetainedEarningsMember2023-01-012023-06-300000914208us-gaap:ParentMember2023-01-012023-06-300000914208us-gaap:NoncontrollingInterestMember2023-01-012023-06-300000914208us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-06-300000914208us-gaap:AdditionalPaidInCapitalMember2023-01-012023-06-300000914208us-gaap:TreasuryStockCommonMember2023-01-012023-06-300000914208ivz:ReclassificationAdjustmentsMember2024-04-012024-06-300000914208ivz:ReclassificationAdjustmentsMember2023-04-012023-06-300000914208ivz:ReclassificationAdjustmentsMember2024-01-012024-06-300000914208ivz:ReclassificationAdjustmentsMember2023-01-012023-06-300000914208us-gaap:EstimateOfFairValueFairValueDisclosureMember2024-06-300000914208us-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000914208us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:TotalReturnSwapMember2024-06-300000914208us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:TotalReturnSwapMember2023-12-310000914208us-gaap:MoneyMarketFundsMember2024-06-300000914208us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel1Member2024-06-300000914208us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel2Member2024-06-300000914208us-gaap:FairValueInputsLevel3Memberus-gaap:MoneyMarketFundsMember2024-06-300000914208ivz:SeedCapitalMember2024-06-300000914208us-gaap:FairValueInputsLevel1Memberivz:SeedCapitalMember2024-06-300000914208us-gaap:FairValueInputsLevel2Memberivz:SeedCapitalMember2024-06-300000914208us-gaap:FairValueInputsLevel3Memberivz:SeedCapitalMember2024-06-300000914208ivz:DeferredCompensationArrangementsMember2024-06-300000914208ivz:DeferredCompensationArrangementsMemberus-gaap:FairValueInputsLevel1Member2024-06-300000914208ivz:DeferredCompensationArrangementsMemberus-gaap:FairValueInputsLevel2Member2024-06-300000914208us-gaap:FairValueInputsLevel3Memberivz:DeferredCompensationArrangementsMember2024-06-300000914208us-gaap:FairValueInputsLevel1Member2024-06-300000914208us-gaap:FairValueInputsLevel2Member2024-06-300000914208us-gaap:FairValueInputsLevel3Member2024-06-300000914208us-gaap:LiabilityMember2024-06-300000914208us-gaap:FairValueInputsLevel1Memberus-gaap:LiabilityMember2024-06-300000914208us-gaap:FairValueInputsLevel2Memberus-gaap:LiabilityMember2024-06-300000914208us-gaap:FairValueInputsLevel3Memberus-gaap:LiabilityMember2024-06-300000914208us-gaap:MoneyMarketFundsMember2023-12-310000914208us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel1Member2023-12-310000914208us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel2Member2023-12-310000914208us-gaap:FairValueInputsLevel3Memberus-gaap:MoneyMarketFundsMember2023-12-310000914208ivz:SeedCapitalMember2023-12-310000914208us-gaap:FairValueInputsLevel1Memberivz:SeedCapitalMember2023-12-310000914208us-gaap:FairValueInputsLevel2Memberivz:SeedCapitalMember2023-12-310000914208us-gaap:FairValueInputsLevel3Memberivz:SeedCapitalMember2023-12-310000914208ivz:DeferredCompensationArrangementsMember2023-12-310000914208ivz:DeferredCompensationArrangementsMemberus-gaap:FairValueInputsLevel1Member2023-12-310000914208ivz:DeferredCompensationArrangementsMemberus-gaap:FairValueInputsLevel2Member2023-12-310000914208us-gaap:FairValueInputsLevel3Memberivz:DeferredCompensationArrangementsMember2023-12-310000914208us-gaap:FairValueInputsLevel1Member2023-12-310000914208us-gaap:FairValueInputsLevel2Member2023-12-310000914208us-gaap:FairValueInputsLevel3Member2023-12-310000914208us-gaap:LiabilityMember2023-12-310000914208us-gaap:FairValueInputsLevel1Memberus-gaap:LiabilityMember2023-12-310000914208us-gaap:FairValueInputsLevel2Memberus-gaap:LiabilityMember2023-12-310000914208us-gaap:FairValueInputsLevel3Memberus-gaap:LiabilityMember2023-12-310000914208us-gaap:TotalReturnSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-06-300000914208us-gaap:TotalReturnSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310000914208us-gaap:TotalReturnSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-04-012024-06-300000914208us-gaap:TotalReturnSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-01-012024-06-300000914208us-gaap:TotalReturnSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-04-012023-06-300000914208us-gaap:TotalReturnSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-01-012023-06-300000914208ivz:SeedCapitalMember2024-06-300000914208ivz:SeedCapitalMember2023-12-310000914208ivz:DeferredCompensationArrangementsMember2024-06-300000914208ivz:DeferredCompensationArrangementsMember2023-12-310000914208us-gaap:LineOfCreditMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2024-06-300000914208us-gaap:LineOfCreditMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-06-300000914208us-gaap:LineOfCreditMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000914208us-gaap:LineOfCreditMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000914208us-gaap:UnsecuredDebtMemberivz:SeniorNotesDueJanuary302024Member2024-06-300000914208us-gaap:UnsecuredDebtMemberivz:SeniorNotesDueJanuary302024Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2024-06-300000914208us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:UnsecuredDebtMemberivz:SeniorNotesDueJanuary302024Member2024-06-300000914208us-gaap:UnsecuredDebtMemberivz:SeniorNotesDueJanuary302024Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000914208us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:UnsecuredDebtMemberivz:SeniorNotesDueJanuary302024Member2023-12-310000914208ivz:SeniorNotesDueJanuary152026MemberMemberus-gaap:UnsecuredDebtMember2024-06-300000914208ivz:SeniorNotesDueJanuary152026MemberMemberus-gaap:UnsecuredDebtMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2024-06-300000914208ivz:SeniorNotesDueJanuary152026MemberMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:UnsecuredDebtMember2024-06-300000914208ivz:SeniorNotesDueJanuary152026MemberMemberus-gaap:UnsecuredDebtMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000914208ivz:SeniorNotesDueJanuary152026MemberMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:UnsecuredDebtMember2023-12-310000914208ivz:SeniorNotesDueNovember302043Memberus-gaap:UnsecuredDebtMember2024-06-300000914208ivz:SeniorNotesDueNovember302043Memberus-gaap:UnsecuredDebtMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2024-06-300000914208us-gaap:EstimateOfFairValueFairValueDisclosureMemberivz:SeniorNotesDueNovember302043Memberus-gaap:UnsecuredDebtMember2024-06-300000914208ivz:SeniorNotesDueNovember302043Memberus-gaap:UnsecuredDebtMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000914208us-gaap:EstimateOfFairValueFairValueDisclosureMemberivz:SeniorNotesDueNovember302043Memberus-gaap:UnsecuredDebtMember2023-12-310000914208us-gaap:CarryingReportedAmountFairValueDisclosureMember2024-06-300000914208us-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000914208us-gaap:UnsecuredDebtMemberivz:SeniorNotesDueJanuary302024Member2024-01-300000914208us-gaap:AccumulatedTranslationAdjustmentMember2023-04-012023-06-300000914208us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-04-012023-06-300000914208us-gaap:AccumulatedTranslationAdjustmentMember2024-03-310000914208us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-03-310000914208us-gaap:AccumulatedTranslationAdjustmentMember2023-03-310000914208us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-03-310000914208us-gaap:AccumulatedTranslationAdjustmentMember2024-06-300000914208us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-06-300000914208us-gaap:AccumulatedTranslationAdjustmentMember2023-06-300000914208us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-06-300000914208us-gaap:AccumulatedTranslationAdjustmentMember2024-01-012024-06-300000914208us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-01-012024-06-300000914208us-gaap:AccumulatedTranslationAdjustmentMember2023-01-012023-06-300000914208us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-01-012023-06-300000914208us-gaap:AccumulatedTranslationAdjustmentMember2023-12-310000914208us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-12-310000914208us-gaap:AccumulatedTranslationAdjustmentMember2022-12-310000914208us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-12-310000914208country:BM2023-04-012023-06-300000914208country:BM2023-01-012023-06-300000914208country:BM2024-01-012024-06-300000914208country:BM2024-04-012024-06-300000914208srt:AmericasMember2024-04-012024-06-300000914208srt:AmericasMember2023-04-012023-06-300000914208srt:AsiaPacificMember2024-04-012024-06-300000914208srt:AsiaPacificMember2023-04-012023-06-300000914208us-gaap:EMEAMember2024-04-012024-06-300000914208us-gaap:EMEAMember2023-04-012023-06-300000914208srt:AmericasMember2024-01-012024-06-300000914208srt:AmericasMember2023-01-012023-06-300000914208srt:AsiaPacificMember2024-01-012024-06-300000914208srt:AsiaPacificMember2023-01-012023-06-300000914208us-gaap:EMEAMember2024-01-012024-06-300000914208us-gaap:EMEAMember2023-01-012023-06-300000914208ivz:TimeVestedNYSEMember2023-12-310000914208us-gaap:PerformanceSharesMember2023-12-310000914208ivz:TimeVestedNYSEMember2022-12-310000914208us-gaap:PerformanceSharesMember2022-12-310000914208ivz:TimeVestedNYSEMember2024-01-012024-06-300000914208us-gaap:PerformanceSharesMember2024-01-012024-06-300000914208ivz:TimeVestedNYSEMember2023-01-012023-06-300000914208us-gaap:PerformanceSharesMember2023-01-012023-06-300000914208ivz:TimeVestedNYSEMember2024-06-300000914208us-gaap:PerformanceSharesMember2024-06-300000914208ivz:TimeVestedNYSEMember2023-06-300000914208us-gaap:PerformanceSharesMember2023-06-300000914208ivz:EquityCommitmentMembersrt:MaximumMember2024-06-300000914208ivz:EquityCommitmentMember2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:BankLoanObligationsMember2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:FairValueInputsLevel1Memberus-gaap:BankLoanObligationsMember2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:FairValueInputsLevel2Memberus-gaap:BankLoanObligationsMember2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:FairValueInputsLevel3Memberus-gaap:BankLoanObligationsMember2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:BankLoanObligationsMember2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:CorporateBondSecuritiesMember2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueInputsLevel1Member2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueInputsLevel2Member2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CorporateBondSecuritiesMember2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:EquitySecuritiesMember2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel1Member2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel2Member2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Member2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:PrivateEquityFundsMember2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:PrivateEquityFundsMemberus-gaap:FairValueInputsLevel1Member2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:PrivateEquityFundsMemberus-gaap:FairValueInputsLevel2Member2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:PrivateEquityFundsMemberus-gaap:FairValueInputsLevel3Member2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:PrivateEquityFundsMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:FairValueInputsLevel1Member2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:FairValueInputsLevel2Member2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:FairValueInputsLevel3Member2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2024-06-300000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:BankLoanObligationsMember2023-12-310000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:FairValueInputsLevel1Memberus-gaap:BankLoanObligationsMember2023-12-310000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:FairValueInputsLevel2Memberus-gaap:BankLoanObligationsMember2023-12-310000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:FairValueInputsLevel3Memberus-gaap:BankLoanObligationsMember2023-12-310000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:BankLoanObligationsMember2023-12-310000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:CorporateBondSecuritiesMember2023-12-310000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueInputsLevel1Member2023-12-310000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueInputsLevel2Member2023-12-310000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CorporateBondSecuritiesMember2023-12-310000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2023-12-310000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:EquitySecuritiesMember2023-12-310000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel1Member2023-12-310000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel2Member2023-12-310000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-12-310000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2023-12-310000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:PrivateEquityFundsMember2023-12-310000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:PrivateEquityFundsMemberus-gaap:FairValueInputsLevel1Member2023-12-310000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:PrivateEquityFundsMemberus-gaap:FairValueInputsLevel2Member2023-12-310000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:PrivateEquityFundsMemberus-gaap:FairValueInputsLevel3Member2023-12-310000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:PrivateEquityFundsMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2023-12-310000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2023-12-310000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:FairValueInputsLevel1Member2023-12-310000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:FairValueInputsLevel2Member2023-12-310000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:FairValueInputsLevel3Member2023-12-310000914208us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2023-12-310000914208us-gaap:FairValueInputsLevel3Member2024-03-310000914208us-gaap:FairValueInputsLevel3Member2023-03-310000914208us-gaap:FairValueInputsLevel3Member2024-04-012024-06-300000914208us-gaap:FairValueInputsLevel3Member2023-04-012023-06-300000914208us-gaap:FairValueInputsLevel3Member2023-06-300000914208us-gaap:FairValueInputsLevel3Member2022-12-310000914208us-gaap:FairValueInputsLevel3Member2024-01-012024-06-300000914208us-gaap:FairValueInputsLevel3Member2023-01-012023-06-300000914208us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2024-06-300000914208us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2023-12-310000914208ivz:InvescoMemberivz:MassMutualMemberivz:MassMutualMember2024-06-300000914208us-gaap:SubsequentEventMember2024-07-222024-07-22
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
(Mark One)
| | | | | | | | |
| ☑ | | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended June 30, 2024
OR
| | | | | | | | |
| ☐ | | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from to
Commission file number 001-13908
Invesco Ltd.
(Exact Name of Registrant as Specified in Its Charter)
| | | | | | | | | | | | | | | | | |
| Bermuda | | 98-0557567 |
| (State or Other Jurisdiction of Incorporation or Organization) | | (I.R.S. Employer Identification No.) |
| | | | | |
| 1331 Spring Street, | Suite 2500, | Atlanta, | GA | | 30309 |
| (Address of Principal Executive Offices) | | (Zip Code) |
(404) 892-0896
(Registrant’s telephone number, including area code)
N/A
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
| | | | | | | | |
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common stock, $0.20 par value | IVZ | New York Stock Exchange |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Large accelerated filer | ☑ | | Accelerated filer | ☐ | | Non-accelerated filer | ☐ | | Smaller reporting company | ☐ |
| | | | | | | | | Emerging growth company | ☐ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.) Yes ☐ No ☑
As of June 30, 2024, the most recent practicable date, the number of Common Shares outstanding was 450,032,426.
TABLE OF CONTENTS
We include cross references to captions elsewhere in this Quarterly Report on Form 10-Q, which we refer to as this “Report,” where you can find related additional information. The following table of contents tells you where to find these captions.
| | | | | |
| |
| Page |
| TABLE OF CONTENTS | |
| |
Glossary of Defined Terms | |
| |
|
| |
| |
| |
| |
| |
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
| |
| |
| |
| |
| |
| |
| |
| |
| |
| |
GLOSSARY OF DEFINED TERMS
| | | | | | | | |
| APAC | — | | Asia-Pacific |
| AUM | — | | Assets under management |
| bps | — | | Basis points |
| CIP | — | | Consolidated investment products |
| CLOs | — | | Collateralized loan obligations |
| | |
| | |
| | |
| Covenant Adjusted EBITDA | — | | A financial measure set forth in covenants in our credit agreement, which is defined to be earnings before income tax, depreciation, amortization, interest expense, common share-based compensation expense, unrealized (gains)/losses from investments, net, and unusual or otherwise non-recurring gains and losses |
| EMEA | — | | Europe, Middle East and Africa |
| | |
| EPS | — | | Earnings per common share |
| | |
| | |
| ETFs | — | | Exchange-traded funds |
| | |
| | |
| | |
| IGW or Invesco Great Wall | — | | Invesco Great Wall Fund Management Company Limited |
| MassMutual | — | | Massachusetts Mutual Life Insurance Company |
| NAV | — | | Net asset value |
| Report | — | | this Form 10-Q |
| | |
| | |
| | |
| | |
| S&P | — | | Standard & Poor's |
| SEC | — | | U.S. Securities and Exchange Commission |
| the company | — | | Invesco Ltd. and its consolidated entities |
| | |
| the Parent | — | | Invesco Ltd. |
| TRS | — | | Total return swap |
| UITs | — | | Unit Investment Trusts |
| U.K. | — | | United Kingdom |
| U.S. | — | | United States |
| U.S. GAAP | — | | Accounting principles generally accepted in the United States |
| | |
| | |
| VIEs | — | | Variable interest entities |
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements
Invesco Ltd.
Condensed Consolidated Balance Sheets
(Unaudited)
| | | | | | | | | | | |
| As of |
| (in millions, except per share data) | June 30, 2024 | | December 31, 2023 |
| ASSETS | | | |
| Cash and cash equivalents | $ | 878.5 | | | $ | 1,469.2 | |
| | | |
| Accounts receivable | 677.1 | | | 701.5 | |
| Investments | 980.0 | | | 919.1 | |
| Assets of consolidated investment products (CIP): | | | |
| Cash and cash equivalents of CIP | 662.8 | | | 462.4 | |
| Accounts receivable and other assets of CIP | 342.2 | | | 250.1 | |
| Investments of CIP | 7,793.5 | | | 8,765.9 | |
| Assets held for policyholders | — | | | 393.9 | |
| | | |
| Other assets | 834.4 | | | 832.6 | |
| Property, equipment and software, net | 574.4 | | | 599.5 | |
| Intangible assets, net | 5,818.8 | | | 5,848.1 | |
| Goodwill | 8,605.9 | | | 8,691.5 | |
| Total assets | $ | 27,167.6 | | | $ | 28,933.8 | |
| LIABILITIES | | | |
| Accrued compensation and benefits | $ | 589.7 | | | $ | 900.4 | |
| Accounts payable and accrued expenses | 1,362.9 | | | 1,294.4 | |
| Liabilities of CIP: | | | |
| Debt of CIP | 6,671.1 | | | 7,121.8 | |
| Other liabilities of CIP | 531.8 | | | 492.1 | |
| Policyholder payables | — | | | 393.9 | |
| | | |
| Debt | 890.1 | | | 1,489.5 | |
| Deferred tax liabilities, net | 1,356.6 | | | 1,325.7 | |
| Total liabilities | 11,402.2 | | | 13,017.8 | |
Commitments and contingencies (See Note 10) | | | |
| TEMPORARY EQUITY | | | |
| Redeemable noncontrolling interests in consolidated entities | 568.9 | | | 745.7 | |
| PERMANENT EQUITY | | | |
| Equity attributable to Invesco Ltd.: | | | |
Preferred shares ($0.20 par value; $1,000 liquidation preference; 4.0 million authorized, issued and outstanding as of June 30, 2024 and December 31, 2023) | 4,010.5 | | | 4,010.5 | |
Common shares ($0.20 par value; 1,050.0 million authorized; 566.1 million shares issued as of June 30, 2024 and December 31, 2023) | 113.2 | | | 113.2 | |
| Additional paid-in-capital | 7,316.3 | | | 7,451.6 | |
| Treasury shares | (2,850.1) | | | (3,002.6) | |
| Retained earnings | 6,917.0 | | | 6,826.7 | |
| Accumulated other comprehensive income/(loss), net of tax | (921.9) | | | (801.8) | |
| Total equity attributable to Invesco Ltd. | 14,585.0 | | | 14,597.6 | |
| Equity attributable to nonredeemable noncontrolling interests in consolidated entities | 611.5 | | | 572.7 | |
| Total permanent equity | 15,196.5 | | | 15,170.3 | |
| Total liabilities, temporary and permanent equity | $ | 27,167.6 | | | $ | 28,933.8 | |
See accompanying notes.
Invesco Ltd.
Condensed Consolidated Statements of Income
(Unaudited)
| | | | | | | | | | | | | | | | | | | | | | | |
| Three months ended June 30, | | Six months ended June 30, |
| (in millions, except per common share data) | 2024 | | 2023 | | 2024 | | 2023 |
| Operating revenues: | | | | | | | |
| Investment management fees | $ | 1,065.8 | | | $ | 1,033.5 | | | $ | 2,114.5 | | | $ | 2,061.4 | |
| Service and distribution fees | 361.6 | | | 342.3 | | | 738.6 | | | 676.5 | |
| Performance fees | 8.7 | | | 19.6 | | | 9.5 | | | 25.2 | |
| Other | 47.2 | | | 47.4 | | | 96.0 | | | 97.9 | |
| Total operating revenues | 1,483.3 | | | 1,442.8 | | | 2,958.6 | | | 2,861.0 | |
| Operating expenses: | | | | | | | |
| Third-party distribution, service and advisory | 495.4 | | | 462.5 | | | 999.4 | | | 917.6 | |
| Employee compensation | 452.3 | | | 475.7 | | | 925.0 | | | 938.5 | |
| Marketing | 20.6 | | | 23.1 | | | 38.7 | | | 42.7 | |
| Property, office and technology | 116.4 | | | 112.7 | | | 234.0 | | | 223.2 | |
| General and administrative | 180.4 | | | 151.9 | | | 318.9 | | | 256.9 | |
| Transaction, integration and restructuring | — | | | — | | | — | | | 41.6 | |
| Amortization of intangible assets | 11.4 | | | 13.1 | | | 22.7 | | | 27.2 | |
| Total operating expenses | 1,276.5 | | | 1,239.0 | | | 2,538.7 | | | 2,447.7 | |
| Operating income | 206.8 | | | 203.8 | | | 419.9 | | | 413.3 | |
| Other income/(expense): | | | | | | | |
| Equity in earnings of unconsolidated affiliates | 13.9 | | | 19.2 | | | 20.8 | | | 45.3 | |
| Interest and dividend income | 11.0 | | | 7.1 | | | 23.4 | | | 15.7 | |
| Interest expense | (16.3) | | | (18.4) | | | (32.2) | | | (36.4) | |
| Other gains/(losses), net | 3.6 | | | 20.9 | | | 39.5 | | | 48.3 | |
| Other income/(expense) of CIP, net | 40.9 | | | (2.7) | | | 71.4 | | | (20.6) | |
| Income before income taxes | 259.9 | | | 229.9 | | | 542.8 | | | 465.6 | |
| Income tax provision | (64.0) | | | (65.5) | | | (132.7) | | | (135.4) | |
| | | | | | | |
| | | | | | | |
| Net income | 195.9 | | | 164.4 | | | 410.1 | | | 330.2 | |
| Net (income)/loss attributable to noncontrolling interests in consolidated entities | (4.5) | | | 27.0 | | | (18.0) | | | 65.4 | |
| Dividends declared on preferred shares | (59.2) | | | (59.2) | | | (118.4) | | | (118.4) | |
| Net income attributable to Invesco Ltd. | $ | 132.2 | | | $ | 132.2 | | | $ | 273.7 | | | $ | 277.2 | |
| | | | | | | |
| Earnings per common share: | | | | | | | |
| -basic | $ | 0.29 | | | $ | 0.29 | | | $ | 0.60 | | | $ | 0.61 | |
| -diluted | $ | 0.29 | | | $ | 0.29 | | | $ | 0.60 | | | $ | 0.60 | |
See accompanying notes.
Invesco Ltd.
Condensed Consolidated Statements of Comprehensive Income
(Unaudited)
| | | | | | | | | | | | | | | | | | | | | | | |
| Three months ended June 30, | | Six months ended June 30 |
| (in millions) | 2024 | | 2023 | | 2024 | | 2023 |
| Net income | $ | 195.9 | | | $ | 164.4 | | | $ | 410.1 | | | $ | 330.2 | |
| | | | | | | |
| Other comprehensive income/(loss), net of tax: | | | | | | | |
| Currency translation differences on investments in foreign subsidiaries | (25.8) | | | 63.8 | | | (122.1) | | | 118.9 | |
| Other comprehensive income/(loss), net of tax | 1.0 | | | 0.8 | | | 2.0 | | | 5.2 | |
| Other comprehensive income/(loss) | (24.8) | | | 64.6 | | | (120.1) | | | 124.1 | |
| | | | | | | |
| Total comprehensive income/(loss) | 171.1 | | | 229.0 | | | 290.0 | | | 454.3 | |
| | | | | | | |
| Comprehensive loss/(income) attributable to noncontrolling interests in consolidated entities | (4.5) | | | 27.0 | | | (18.0) | | | 65.4 | |
| Dividends declared on preferred shares | (59.2) | | | (59.2) | | | (118.4) | | | (118.4) | |
| Comprehensive income/(loss) attributable to Invesco Ltd. | $ | 107.4 | | | $ | 196.8 | | | $ | 153.6 | | | $ | 401.3 | |
See accompanying notes.
Invesco Ltd.
Condensed Consolidated Statements of Cash Flows
(Unaudited)
| | | | | | | | | | | |
| Six months ended June 30, |
| (in millions) | 2024 | | 2023 |
| Operating activities: | | | |
Net income | $ | 410.1 | | | $ | 330.2 | |
| Adjustments to reconcile net income to net cash provided by/(used in) operating activities: | | | |
| Amortization and depreciation | 91.5 | | | 94.2 | |
| | | |
| Common share-based compensation expense | 39.5 | | | 69.8 | |
| | | |
| Other (gains)/losses, net | (38.9) | | | (48.3) | |
| Other (gains)/losses of CIP, net | 12.0 | | | 120.0 | |
| Equity in earnings of unconsolidated affiliates | (20.8) | | | (45.3) | |
| Distributions from equity method investees | 28.2 | | | 6.5 | |
| | | |
| Changes in operating assets and liabilities: | | | |
| | | |
| (Purchase)/sale of investments by CIP, net | 47.6 | | | (164.3) | |
| (Purchase)/sale of investments, net | (1.7) | | | 5.8 | |
| (Increase)/decrease in receivables | 397.7 | | | 397.0 | |
| Increase/(decrease) in payables | (530.5) | | | (533.2) | |
| Net cash provided by/(used in) operating activities | 434.7 | | | 232.4 | |
| Investing activities: | | | |
| Purchase of property, equipment and software | (47.7) | | | (84.8) | |
| | | |
| Purchase of investments by CIP | (1,661.4) | | | (1,190.9) | |
| Sale of investments by CIP | 1,725.8 | | | 1,251.7 | |
| Purchase of investments | (39.3) | | | (62.0) | |
| Sale of investments | 0.1 | | | 35.1 | |
| Capital distribution from equity method investees | 121.2 | | | 12.3 | |
| | | |
| | | |
| | | |
| | | |
| | | |
| Net cash inflows/(outflows) upon consolidation/deconsolidation of CIP | (41.3) | | | (10.6) | |
| Net cash provided by/(used in) investing activities | 57.4 | | | (49.2) | |
| Financing activities: | | | |
| Purchases of treasury shares | (23.1) | | | (179.2) |
| Dividends paid - preferred | (118.4) | | | (118.4) |
| | | |
| Dividends paid - common | (183.4) | | | (177.6) | |
| Third-party capital invested into CIP | 105.7 | | | 51.5 | |
| Third-party capital distributed by CIP | (108.5) | | | (150.0) | |
| Borrowings of debt of CIP | 307.7 | | | 251.8 | |
| Repayments of debt of CIP | (240.0) | | | (27.7) | |
| Borrowings of credit agreement | 1,436.3 | | | — | |
| Repayments of credit agreement | (1,436.3) | | | — | |
| | | |
| | | |
| Repayment of senior notes | (600.0) | | | — | |
| Net cash provided by/(used in) financing activities | (860.0) | | | (349.6) | |
| Increase/(decrease) in cash and cash equivalents | (367.9) | | | (166.4) | |
| Foreign exchange movement on cash and cash equivalents | (19.3) | | 18.2 |
| Foreign exchange movement on cash and cash equivalents of CIP | (3.1) | | 1.2 |
| | | |
| Cash and cash equivalents, beginning of period | 1,931.6 | | 1,434.1 |
| Cash and cash equivalents, end of period | $ | 1,541.3 | | | $ | 1,287.1 | |
| | | |
| Cash and cash equivalents | $ | 878.5 | | | $ | 1,009.9 | |
| | | |
| Cash and cash equivalents of CIP | 662.8 | | 277.2 |
| Total cash and cash equivalents per condensed consolidated statement of cash flows | $ | 1,541.3 | | | $ | 1,287.1 | |
See accompanying notes.
Invesco Ltd.
Condensed Consolidated Statements of Changes in Equity
(Unaudited) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Three months ended June 30, 2024 |
| Equity Attributable to Invesco Ltd. | | | | | | |
| (in millions, except per share data) | Preferred Shares | | Common Shares | | Additional Paid-in-Capital | | Treasury Shares | | Retained Earnings | | Accumulated Other Comprehensive Income/(Loss) | | Total Equity Attributable to Invesco Ltd. | | Nonredeemable Noncontrolling Interests in Consolidated Entities | | Total Permanent Equity | | Redeemable Noncontrolling Interests in Consolidated Entities/ Temporary Equity |
| April 1, 2024 | $ | 4,010.5 | | | $ | 113.2 | | | $ | 7,314.6 | | | $ | (2,864.4) | | | $ | 6,878.0 | | | $ | (897.1) | | | $ | 14,554.8 | | | $ | 630.2 | | | $ | 15,185.0 | | | $ | 667.8 | |
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
| Net income | — | | | — | | | — | | | — | | | 191.4 | | | — | | | 191.4 | | | 20.9 | | | 212.3 | | | (16.4) | |
| Other comprehensive income/(loss) | — | | | — | | | — | | | — | | | — | | | (24.8) | | | (24.8) | | | — | | | (24.8) | | | — | |
| Change in noncontrolling interests in consolidated entities, net | — | | | — | | | — | | | — | | | — | | | — | | | — | | | (39.6) | | | (39.6) | | | (82.5) | |
| | | | | | | | | | | | | | | | | | | |
Dividends declared - preferred ($14.75 per share) | — | | | — | | | — | | | — | | | (59.2) | | | — | | | (59.2) | | | — | | | (59.2) | | | — | |
Dividends declared - common ($0.205 per share) | — | | | — | | | — | | | — | | | (93.2) | | | — | | | (93.2) | | | — | | | (93.2) | | | — | |
| Employee common share plans: | | | | | | | | | | | | | | | | | | | |
| Common share-based compensation | — | | | — | | | 18.4 | | | — | | | — | | | — | | | 18.4 | | | — | | | 18.4 | | | — | |
| Vested common shares | — | | | — | | | (17.0) | | | 17.0 | | | — | | | — | | | — | | | — | | | — | | | — | |
| Other common share awards | — | | | — | | | 0.3 | | | — | | | — | | | — | | | 0.3 | | | — | | | 0.3 | | | — | |
| Purchase of common shares | — | | | — | | | — | | | (2.7) | | | — | | | — | | | (2.7) | | | — | | | (2.7) | | | — | |
| June 30, 2024 | $ | 4,010.5 | | | $ | 113.2 | | | $ | 7,316.3 | | | $ | (2,850.1) | | | $ | 6,917.0 | | | $ | (921.9) | | | $ | 14,585.0 | | | $ | 611.5 | | | $ | 15,196.5 | | | $ | 568.9 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Three months ended June 30, 2023 |
| Equity Attributable to Invesco Ltd. | | | | | | |
| (in millions, except per share data) | Preferred Shares | | Common Shares | | Additional Paid-in-Capital | | Treasury Shares | | Retained Earnings | | Accumulated Other Comprehensive Income/(Loss) | | Total Equity Attributable to Invesco Ltd. | | Nonredeemable Noncontrolling Interests in Consolidated Entities | | Total Permanent Equity | | Redeemable Noncontrolling Interests in Consolidated Entities/ Temporary Equity |
| April 1, 2023 | $ | 4,010.5 | | | $ | 113.2 | | | $ | 7,412.6 | | | $ | (2,888.0) | | | $ | 7,577.6 | | | $ | (882.9) | | | $ | 15,343.0 | | | $ | 587.2 | | | $ | 15,930.2 | | | $ | 879.6 | |
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
| Net income | — | | | — | | | — | | | — | | | 191.4 | | | — | | | 191.4 | | | (13.9) | | | 177.5 | | | (13.1) | |
| Other comprehensive income/(loss) | — | | | — | | | — | | | — | | | — | | | 64.6 | | | 64.6 | | | — | | | 64.6 | | | — | |
| Change in noncontrolling interests in consolidated entities, net | — | | | — | | | — | | | — | | | — | | | — | | | — | | | (35.5) | | | (35.5) | | | (24.6) | |
| | | | | | | | | | | | | | | | | | | |
Dividends declared - preferred ($14.75per share) | — | | | — | | | — | | | — | | | (59.2) | | | — | | | (59.2) | | | — | | | (59.2) | | | — | |
Dividends declared - common ($0.20 per share) | — | | | — | | | — | | | — | | | (91.9) | | | — | | | (91.9) | | | — | | | (91.9) | | | — | |
| Employee common share plans: | | | | | | | | | | | | | | | | | | | |
| Common share-based compensation | — | | | — | | | 32.0 | | | — | | | — | | | — | | | 32.0 | | | — | | | 32.0 | | | — | |
| Vested common shares | — | | | — | | | (7.7) | | | 7.7 | | | — | | | — | | | — | | | — | | | — | | | — | |
| Other common share awards | — | | | — | | | (3.9) | | | 4.4 | | | — | | | — | | | 0.5 | | | — | | | 0.5 | | | — | |
| Purchase of common shares | — | | | — | | | — | | | (151.5) | | | — | | | — | | | (151.5) | | | — | | | (151.5) | | | — | |
| June 30, 2023 | $ | 4,010.5 | | | $ | 113.2 | | | $ | 7,433.0 | | | $ | (3,027.4) | | | $ | 7,617.9 | | | $ | (818.3) | | | $ | 15,328.9 | | | $ | 537.8 | | | $ | 15,866.7 | | | $ | 841.9 | |
Invesco Ltd.
Condensed Consolidated Statements of Changes in Equity
(Unaudited)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six months ended June 30, 2024 |
| Equity Attributable to Invesco Ltd. | | | | | | |
| (in millions, except per share data) | Preferred Shares | | Common Shares | | Additional Paid-in-Capital | | Treasury Shares | | Retained Earnings | | Accumulated Other Comprehensive Income/(Loss) | | Total Equity Attributable to Invesco Ltd. | | Nonredeemable Noncontrolling Interests in Consolidated Entities | | Total Permanent Equity | | Redeemable Noncontrolling Interests in Consolidated Entities/ Temporary Equity |
| January 1, 2024 | $ | 4,010.5 | | | $ | 113.2 | | | $ | 7,451.6 | | | $ | (3,002.6) | | | $ | 6,826.7 | | | $ | (801.8) | | | $ | 14,597.6 | | | $ | 572.7 | | | $ | 15,170.3 | | | $ | 745.7 | |
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
| Net income | — | | | — | | | — | | | — | | | 392.1 | | | — | | | 392.1 | | | 58.8 | | | 450.9 | | | (40.8) | |
| Other comprehensive income/(loss) | — | | | — | | | — | | | — | | | — | | | (120.1) | | | (120.1) | | | — | | | (120.1) | | | — | |
| Change in noncontrolling interests in consolidated entities, net | — | | | — | | | — | | | — | | | — | | | — | | | — | | | (20.0) | | | (20.0) | | | (136.0) | |
| | | | | | | | | | | | | | | | | | | |
Dividends declared - preferred ($29.50 share) | — | | | — | | | — | | | — | | | (118.4) | | | — | | | (118.4) | | | — | | | (118.4) | | | — | |
Dividends declared - common ($0.405 per share) | — | | | — | | | — | | | — | | | (183.4) | | | — | | | (183.4) | | | — | | | (183.4) | | | — | |
| Employee common share plans: | | | | | | | | | | | | | | | | | | | |
| Common share-based compensation | — | | | — | | | 39.5 | | | — | | | — | | | — | | | 39.5 | | | — | | | 39.5 | | | — | |
| Vested common shares | — | | | — | | | (175.4) | | | 175.4 | | | — | | | — | | | — | | | — | | | — | | | — | |
| Other common share awards | — | | | — | | | 0.6 | | | 0.2 | | | — | | | — | | | 0.8 | | | — | | | 0.8 | | | — | |
| Purchase of common shares | — | | | — | | | — | | | (23.1) | | | — | | | — | | | (23.1) | | | — | | | (23.1) | | | — | |
| June 30, 2024 | $ | 4,010.5 | | | $ | 113.2 | | | $ | 7,316.3 | | | $ | (2,850.1) | | | $ | 6,917.0 | | | $ | (921.9) | | | $ | 14,585.0 | | | $ | 611.5 | | | $ | 15,196.5 | | | $ | 568.9 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six months ended June 30, 2023 |
| Equity Attributable to Invesco Ltd. | | | | | | |
| (in millions, except per share data) | Preferred Shares | | Common Shares | | Additional Paid-in-Capital | | Treasury Shares | | Retained Earnings | | Accumulated Other Comprehensive Income/(Loss) | | Total Equity Attributable to Invesco Ltd. | | Nonredeemable Noncontrolling Interests in Consolidated Entities | | Total Permanent Equity | | Redeemable Noncontrolling Interests in Consolidated Entities/ Temporary Equity |
| January 1, 2023 | $ | 4,010.5 | | | $ | 113.2 | | | $ | 7,554.9 | | | $ | (3,040.9) | | | $ | 7,518.3 | | | $ | (942.4) | | | $ | 15,213.6 | | | $ | 629.9 | | | $ | 15,843.5 | | | $ | 998.7 | |
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
| Net income | — | | | — | | | — | | | — | | | 395.6 | | | — | | | 395.6 | | | (38.7) | | | 356.9 | | | (26.7) | |
| Other comprehensive income/(loss) | — | | | — | | | — | | | — | | | — | | | 124.1 | | | 124.1 | | | — | | | 124.1 | | | — | |
| Change in noncontrolling interests in consolidated entities, net | — | | | — | | | — | | | — | | | — | | | — | | | — | | | (53.4) | | | (53.4) | | | (130.1) | |
| | | | | | | | | | | | | | | | | | | |
Dividends declared - preferred ($29.50 per share) | — | | | — | | | — | | | — | | | (118.4) | | | — | | | (118.4) | | | — | | | (118.4) | | | — | |
Dividends declared - common ($0.3875 per share) | — | | | — | | | — | | | — | | | (177.6) | | | — | | | (177.6) | | | — | | | (177.6) | | | — | |
| Employee common share plans: | | | | | | | | | | | | | | | | | | | |
| Common share-based compensation | — | | | — | | | 69.8 | | | — | | | — | | | — | | | 69.8 | | | — | | | 69.8 | | | — | |
| Vested common shares | — | | | — | | | (188.3) | | | 188.3 | | | — | | | — | | | — | | | — | | | — | | | — | |
| Other common share awards | — | | | — | | | (3.4) | | | 4.4 | | | — | | | — | | | 1.0 | | | — | | | 1.0 | | | — | |
| Purchase of common shares | — | | | — | | | — | | | (179.2) | | | — | | | — | | | (179.2) | | | — | | | (179.2) | | | — | |
| June 30, 2023 | $ | 4,010.5 | | | $ | 113.2 | | | $ | 7,433.0 | | | $ | (3,027.4) | | | $ | 7,617.9 | | | $ | (818.3) | | | $ | 15,328.9 | | | $ | 537.8 | | | $ | 15,866.7 | | | $ | 841.9 | |
See accompanying notes.
Invesco Ltd.
Notes to the Condensed Consolidated Financial Statements
(Unaudited)
1. ACCOUNTING POLICIES
Corporate Information
Invesco Ltd. (the Parent) and its consolidated entities (collectively, the company or Invesco) provide retail and institutional clients with an array of investment management capabilities. The company operates globally and its sole business is investment management.
Certain disclosures included in the company’s annual report on Form 10-K for the year ended December 31, 2023 (annual report or Form 10-K) are not required to be included on an interim basis in the company’s quarterly reports on Forms 10-Q (Report). The company has condensed or omitted these disclosures. Therefore, this Report should be read in conjunction with the company’s annual report.
Basis of Accounting and Consolidation
The unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) for interim financial information and with rules and regulations of the U.S. Securities and Exchange Commission (SEC) and consolidate the financial statements of the Parent and all of its controlled subsidiaries. In the opinion of management, the Condensed Consolidated Financial Statements reflect all adjustments, consisting of normal recurring accruals, which are necessary for the fair presentation of the financial condition and results of operations for the periods presented. All significant intercompany transactions, balances, revenues and expenses are eliminated upon consolidation. The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates.
Reclassifications
Beginning in the quarter ended March 31, 2024, expenses for client-related travel and entertainment and outsourced services were reclassified to General and administrative expenses. The impact of this reclassification on the Consolidated Statements of Income is as follows:
• For the three months ended June 30, 2024: decreased Marketing and Property, office and technology expenses by $7.7 million and $22.8 million, respectively, and increased General and administrative by $30.5 million.
• For the three months ended June 30, 2023: decreased Marketing and Property, office and technology expenses by $5.9 million and $24.4 million, respectively, and increased General and administrative by $30.3 million.
• For the six months ended June 30, 2024: decreased Marketing and Property, office and technology expenses by $14.4 million and $46.4 million, respectively, and increased General and administrative by $60.8 million.
• For the six months ended June 30, 2023: decreased Marketing and Property, office and technology expenses by $11.3 million and $48.3 million, respectively, and increased General and administrative by $59.6 million.
The reclassification had no impact on our reported Operating revenues, Operating income, Net income, or any internal performance measure on which management is compensated.
Accounting Pronouncements Recently Adopted
None.
Pending Accounting Pronouncements
Refer to the most recent Form 10-K filed with the SEC.
2. FAIR VALUE OF ASSETS AND LIABILITIES
The fair value of financial instruments is presented in the below summary table. The fair value of financial instruments held by CIP are presented in Note 11, "Consolidated Investment Products." See the company’s most recently filed Form 10-K for additional disclosures on valuation methodology and fair value.
| | | | | | | | | | | | |
| | June 30, 2024 | | December 31, 2023 |
| (in millions) | | Fair Value | | Fair Value |
| Cash and cash equivalents | | $ | 878.5 | | | $ | 1,469.2 | |
| | | | |
| Equity investments | | 320.3 | | | 272.4 | |
| | | | |
| | | | |
| Assets held for policyholders | | — | | | 393.9 | |
Policyholder payables (1) | | — | | | (393.9) | |
| Total return swap related to deferred compensation plans | | 6.9 | | | 4.9 | |
| | | | |
____________
(1) These financial instruments are not measured at fair value on a recurring basis. Policyholder payables were indexed to the value of the assets held for policyholders and changes in fair value were recorded and offset to zero in other operating revenues. In January 2024, all funds were distributed to customers.
The following table presents, by hierarchy levels, the carrying value of the company’s assets and liabilities, including major security type for equity investments, which are measured at fair value on the company’s Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023, respectively:
| | | | | | | | | | | | | | | | | | | | | | | |
| As of June 30, 2024 |
| (in millions) | Fair Value Measurements | | Quoted Prices in Active Markets for Identical Assets
(Level 1) | | Significant Other Observable Inputs
(Level 2) | | Significant Unobservable Inputs
(Level 3) |
| Assets: | | | | | | | |
| Cash equivalents: | | | | | | | |
Money market funds (1) | $ | 430.8 | | | $ | 430.8 | | | $ | — | | | $ | — | |
Investments: (2) | | | | | | | |
| Equity investments: | | | | | | | |
| Seed capital | 106.1 | | | 106.1 | | | — | | | — | |
| Investments related to deferred compensation plans | 214.2 | | | 214.2 | | | — | | | — | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
| Total return swap related to deferred compensation plans | 6.9 | | | — | | | 6.9 | | | — | |
| Total | $ | 758.0 | | | $ | 751.1 | | | $ | 6.9 | | | $ | — | |
| Liabilities: | | | | | | | |
| | | | | | | |
| Contingent consideration liability | $ | (1.3) | | | $ | — | | | $ | — | | | $ | (1.3) | |
| Total | $ | (1.3) | | | $ | — | | | $ | — | | | $ | (1.3) | |
| | | | | | | | | | | | | | | | | | | | | | | |
| As of December 31, 2023 |
| (in millions) | Fair Value Measurements | | Quoted Prices in Active Markets for Identical Assets
(Level 1) | | Significant Other Observable Inputs
(Level 2) | | Significant Unobservable Inputs
(Level 3) |
| Assets: | | | | | | | |
| Cash equivalents: | | | | | | | |
Money market funds (1) | $ | 927.8 | | | $ | 927.8 | | | $ | — | | | $ | — | |
Investments (2): | | | | | | | |
| Equity investments: | | | | | | | |
| Seed capital | 75.7 | | | 75.7 | | | — | | | — | |
| Investments related to deferred compensation plans | 196.7 | | | 196.7 | | | — | | | — | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
Assets held for policyholders (3) | 393.9 | | | 393.9 | | | — | | | — | |
| Total return swap related to deferred compensation plans | 4.9 | | | — | | | 4.9 | | | — | |
| Total | $ | 1,599.0 | | | $ | 1,594.1 | | | $ | 4.9 | | | $ | — | |
| Liabilities: | | | | | | | |
| | | | | | | |
| Contingent consideration liability | $ | (1.3) | | | $ | — | | | $ | — | | | $ | (1.3) | |
| Total | $ | (1.3) | | | $ | — | | | $ | — | | | $ | (1.3) | |
____________
(1) The balance primarily represents cash held in affiliated money market funds.
(2) Equity method and other investments of $644.9 million and $14.8 million, respectively, are excluded from this table (December 31, 2023: $631.8 million and $14.9 million, respectively). These investments are not measured at fair value, in accordance with applicable accounting standards.
(3) The majority of Assets held for policyholders were held in affiliated funds.
Total Return Swap (TRS)
In addition to holding equity investments, the company has a TRS to hedge economically certain deferred compensation liabilities. The notional value of the TRS at June 30, 2024 was $424.4 million, and the fair value of the TRS was an asset of $6.9 million (December 31, 2023 notional value was $393.0 million and the fair value was an asset of $4.9 million). During the three months ended June 30, 2024, market valuation losses related to the TRS were $1.2 million and during the six months ended June 30, 2024 gains related to the TRS were $16.8 million (three and six months ended June 30, 2023: $7.3 million and $20.3 million net gain).
The fair value of the TRS was determined under the market approach using quoted prices of the underlying investments and, as such, is classified as level 2 of the valuation hierarchy. The TRS is not designated for hedge accounting.
3. INVESTMENTS
The disclosures below include details of the company’s investments. Investments held by CIP are detailed in Note 11, "Consolidated Investment Products."
| | | | | | | | | | | |
| (in millions) | June 30, 2024 | | December 31, 2023 |
| Equity investments: | | | |
| Seed capital | $ | 106.1 | | | $ | 75.7 | |
| Investments related to deferred compensation plans | 214.2 | | | 196.7 | |
| | | |
| | | |
| | | |
| | | |
| Equity method investments | 644.9 | | | 631.8 | |
| | | |
| Other | 14.8 | | | 14.9 | |
Total investments (1) | $ | 980.0 | | | $ | 919.1 | |
_________(1) The majority of the company’s investment balances relate to balances held in affiliated funds and equity method investees.
Equity investments
The unrealized gains and losses for the three and six months ended June 30, 2024 that relate to equity investments still held at June 30, 2024 were a $13.2 million net gain and $19.8 million net gain (three and six months ended June 30, 2023: $9.6 million net gain $22.9 million net gain).
4. DEBT
The disclosures below include details of the company’s debt. Debt of CIP is detailed in Note 11, "Consolidated Investment Products."
| | | | | | | | | | | | | | | | | | | | | | | |
| June 30, 2024 | | December 31, 2023 |
| (in millions) | Carrying Value (3) | | Fair Value | | Carrying Value (3) | | Fair Value |
$2.0 billion floating rate credit agreement expiring April 26, 2028 | $ | — | | | $ | — | | | $ | — | | | $ | — | |
Unsecured Senior Notes: (1) | | | | | | | |
| | | | | | | |
$600 million 4.000% - due January 30, 2024 (2) | — | | | — | | | 599.9 | | | 599.1 | |
$500 million 3.750% - due January 15, 2026 | 498.9 | | | 489.7 | | | 498.6 | | | 489.1 | |
$400 million 5.375% - due November 30, 2043 | 391.2 | | | 380.9 | | | 391.0 | | | 409.6 | |
| Debt | $ | 890.1 | | | $ | 870.6 | | | $ | 1,489.5 | | | $ | 1,497.8 | |
____________
(1) The company’s senior note indentures contain certain restrictions on mergers or consolidations. Beyond these items, there are no other restrictive covenants in the indentures.
(2) On January 30, 2024, the outstanding balance of the $600.0 million senior notes was paid in full.
(3) The difference between the principal amounts and the carrying values of the senior notes in the table above reflect the unamortized debt issuance costs and discounts.
5. SHARE CAPITAL
The number of preferred shares issued and outstanding is represented in the table below:
| | | | | | | | | | | |
| As of |
| (in millions) | June 30, 2024 | | December 31, 2023 |
Preferred shares issued (1) | 4.0 | | 4.0 | |
| | | |
Preferred shares outstanding (1) | 4.0 | | 4.0 | |
____________(1) Substantially all the preferred shares are held by Massachusetts Mutual Life Insurance Company (MassMutual). The five-year lock-up period which prohibited the sale of the preferred shares by MassMutual expired on May 24, 2024.
The number of common shares and common share equivalents issued are represented in the table below:
| | | | | | | | | | | |
| As of |
| (in millions) | June 30, 2024 | | December 31, 2023 |
| | | |
| | | |
| Common shares issued | 566.1 | | | 566.1 | |
Less: Treasury shares for which dividend and voting rights do not apply | (116.1) | | | (116.6) | |
| Common shares outstanding | 450.0 | | | 449.5 | |
6. OTHER COMPREHENSIVE INCOME/(LOSS)
The components of accumulated other comprehensive income/(loss) were as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Three months ended June 30, 2024 | | Three months ended June 30, 2023 | | | |
| (in millions) | Foreign currency translation | | Employee benefit plans | | | | | | Total | | Foreign currency translation | | Employee benefit plans | | Total | | | | | | | |
| Other comprehensive income/(loss), net of tax: | | | | | | | | | | | | | | | | | | | | | | |
Currency translation differences on investments in foreign subsidiaries | $ | (25.8) | | | $ | — | | | | | | | $ | (25.8) | | | $ | 63.8 | | | $ | — | | | $ | 63.8 | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | |
| Other comprehensive income/(loss), net | — | | | 1.0 | | | | | | | 1.0 | | | — | | | 0.8 | | | 0.8 | | | | | | | | |
| Other comprehensive income/(loss), net of tax | (25.8) | | | 1.0 | | | | | | | (24.8) | | | 63.8 | | | 0.8 | | | 64.6 | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | |
| Beginning balance | (766.4) | | | (130.7) | | | | | | | (897.1) | | | (759.9) | | | (123.0) | | | (882.9) | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | |
| Other comprehensive income/(loss), net of tax | (25.8) | | | 1.0 | | | | | | | (24.8) | | | 63.8 | | | 0.8 | | | 64.6 | | | | | | | | |
| Ending balance | $ | (792.2) | | | $ | (129.7) | | | | | | | $ | (921.9) | | | $ | (696.1) | | | $ | (122.2) | | | $ | (818.3) | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six months ended June 30, 2024 | | Six months ended June 30, 2023 |
| (in millions) | Foreign currency translation | | Employee benefit plans | | | | | | Total | | Foreign currency translation | | Employee benefit plans | | Total |
| Other comprehensive income/(loss), net of tax: | | | | | | | | | | | | | | | |
Currency translation differences on investments in foreign subsidiaries | $ | (122.1) | | | $ | — | | | | | | | $ | (122.1) | | | $ | 118.9 | | | $ | — | | | $ | 118.9 | |
| | | | | | | | | | | | | | | |
| Other comprehensive income/(loss), net | — | | | 2.0 | | | | | | | 2.0 | | | — | | | 5.2 | | | 5.2 | |
| Other comprehensive income/(loss), net of tax | (122.1) | | | 2.0 | | | | | | | (120.1) | | | 118.9 | | | 5.2 | | | 124.1 | |
| | | | | | | | | | | | | | | |
| Beginning balance | (670.1) | | | (131.7) | | | | | | | (801.8) | | | (815.0) | | | (127.4) | | | (942.4) | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Other comprehensive income/(loss), net of tax | (122.1) | | | 2.0 | | | | | | | (120.1) | | | 118.9 | | | 5.2 | | | 124.1 | |
| Ending balance | $ | (792.2) | | | $ | (129.7) | | | | | | | $ | (921.9) | | | $ | (696.1) | | | $ | (122.2) | | | $ | (818.3) | |
7. REVENUE
The geographic disaggregation of revenue for the three and six months ended June 30, 2024 and 2023 are presented below. There are no revenues attributed to the company’s country of domicile, Bermuda.
| | | | | | | | | | | |
| Three months ended June 30, |
| (in millions) | 2024 | | 2023 |
| Americas | $ | 1,145.5 | | | $ | 1,108.1 | |
| Asia-Pacific (APAC) | 62.1 | | 63.7 |
| Europe, Middle East and Africa (EMEA) | 275.7 | | 271.0 |
| | | |
| Total operating revenues | $ | 1,483.3 | | | $ | 1,442.8 | |
| | | | | | | | | | | |
| Six months ended June 30, |
| (in millions) | 2024 | | 2023 |
| Americas | $ | 2,286.1 | | | $ | 2,191.5 | |
| Asia-Pacific (APAC) | 130.8 | | 133.6 |
| Europe, Middle East and Africa (EMEA) | 541.7 | | 535.9 |
| | | |
| Total operating revenues | $ | 2,958.6 | | | $ | 2,861.0 | |
8. COMMON SHARE-BASED COMPENSATION
The company recognized total compensation expense of $39.5 million and $69.8 million related to equity-settled common share-based compensation in the six months ended June 30, 2024 and 2023, respectively.
Movements on employee common share awards during the periods ended June 30 are detailed below:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six months ended June 30, 2024 | | Six months ended June 30, 2023 |
| (in millions of common shares, except fair values) | Time- Vested | | Performance- Vested | | Weighted Average Grant Date Fair Value | | Time- Vested | | Performance- Vested | | |
Unvested at the beginning of period | 10.4 | | | 1.6 | | | $ | 18.84 | | | 10.3 | | | 2.1 | | | |
| Granted during the period | 4.9 | | | 0.9 | | | 15.13 | | | 4.3 | | | 0.7 | | | |
| Forfeited during the period | (0.4) | | | (0.1) | | | 17.91 | | | (0.1) | | | (0.2) | | | |
Vested and distributed during the period | (4.6) | | | (0.5) | | | 18.29 | | | (4.8) | | | (0.5) | | | |
Unvested at the end of the period | 10.3 | | | 1.9 | | | $ | 17.37 | | | 9.7 | | | 2.1 | | | |
The total fair value of common shares that vested during the six months ended June 30, 2024 was $77.7 million (six months ended June 30, 2023: $91.3 million). The weighted average grant date fair value of the United States (U.S.) dollar share awards that were granted during the six months ended June 30, 2024 was $15.13 (six months ended June 30, 2023: $17.73).
At June 30, 2024, there was $161.1 million of total unrecognized compensation cost related to non-vested common share awards; that cost is expected to be recognized over a weighted average period of 2.74 years.
9. EARNINGS PER COMMON SHARE
The calculation of earnings per common share (EPS) is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Three months ended June 30, | | Six months ended June 30 | | | | | |
| (in millions, except per share data) | 2024 | | 2023 | | 2024 | | 2023 | | | | | | | |
| Net income attributable to Invesco Ltd. | $ | 132.2 | | | $ | 132.2 | | | $ | 273.7 | | | $ | 277.2 | | | | | | | | |
| | | | | | | | | | | | | | |
| Invesco Ltd: | | | | | | | | | | | | | | |
| Weighted average common shares outstanding - basic | 455.5 | | | 457.9 | | | 457.1 | | | 458.0 | | | | | | | | |
| Dilutive effect of non-participating common share-based awards | 0.6 | | | 0.9 | | | 0.4 | | | 0.9 | | | | | | | | |
| Weighted average common shares outstanding - diluted | 456.1 | | | 458.8 | | | 457.5 | | | 458.9 | | | | | | | | |
| | | | | | | | | | | | | | |
| Earnings per common share: | | | | | | | | | | | | | | |
| -basic | $ | 0.29 | | | $ | 0.29 | | | $ | 0.60 | | | $ | 0.61 | | | | | | | | |
| -diluted | $ | 0.29 | | | $ | 0.29 | | | $ | 0.60 | | | $ | 0.60 | | | | | | | | |
See Note 8, "Common Share-Based Compensation," for a summary of common share awards outstanding under the company’s common share-based payment programs. These programs could result in the issuance of common shares that would affect the measurement of basic and diluted EPS.
10. COMMITMENTS AND CONTINGENCIES
Commitments and contingencies may arise in the ordinary course of business.
The company has committed to co-invest in certain investment products, which may be called in future periods. At June 30, 2024, the company’s undrawn co-invest capital commitments were $750.4 million (December 31, 2023: $623.3 million).
Certain of our managed investment products have entered into revolving credit facilities with financial institutions. The company provided equity commitments and guarantees to the financial institutions for certain of these revolving credit facilities that are temporary in nature. The revolving credit facilities look first to the respective investment products for repayment and servicing. The company’s equity commitment or guarantee would only be called in the event a particular investment product is unable to meet its obligation. The company believes the likelihood of being required to fund its equity commitments or guarantees under these arrangements to be remote. To date, the company has not been required to fund any equity commitments or guarantees under these arrangements. The maximum amount of future payments under the commitments is $221.1 million and under the guarantees is $30.0 million. The fair value of the guarantee liability is not significant to the consolidated financial statements.
The company and some of its subsidiaries have entered into agreements with financial institutions to guarantee certain obligations of other company subsidiaries. The company would be required to perform under these guarantees in the event of certain defaults. The company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.
Legal Contingencies
The company is from time to time involved in pending or threatened litigation relating to claims arising in the ordinary course of its business. The nature and progression of litigation can make it difficult to predict the impact a particular lawsuit or claim will have on the company. There are many reasons that the company cannot make these assessments, including, among others, one or more of the following: the proceeding is in its early stages (or merely threatened); the damages sought are unspecified, unsupportable, unexplained or uncertain; the claimant is seeking relief other than compensatory damages; the matter presents novel legal claims or other meaningful legal uncertainties; discovery has not started or is not complete; there are significant facts in dispute; and there are other parties who may share in any ultimate liability.
The company and certain related entities have in recent years been subject to various regulatory inquiries, reviews and investigations and legal proceedings, including civil litigation, regulatory investigations and enforcement actions. These actions can arise from normal business operations and/or matters that have been the subject of previous regulatory reviews. As a global company with investment products registered in numerous countries and subject to the jurisdiction of one or more regulators in each country, at any given time, our business operations may be subject to review, investigation, or disciplinary action.
In assessing the impact that a legal or regulatory matter will have on the company, management evaluates the need for an accrual on a case-by-case basis. If the likelihood of a loss is deemed probable and is reasonably estimable, the estimated loss is accrued. If the likelihood of a loss is assessed as less than probable, a loss is not accrued. If a loss is deemed probable but an amount or range of loss cannot be reasonably estimated, a loss is not accrued but the matter is disclosed.
The company accrued a $50.0 million liability in the second quarter in connection with a previously disclosed investigation by the SEC into compliance with electronic business communications recordkeeping requirements and a separate regulatory matter, neither of which is expected to have a material impact on the company.
In management’s opinion, adequate accrual has been made as of June 30, 2024 to provide for any losses that may arise from matters for which the company could reasonably estimate an amount and are deemed probable. Management believes that the ultimate resolution of claims or regulatory matters will not materially affect the company’s business, revenue, net income or liquidity.
Further, the investment management industry also is generally subject to extensive levels of ongoing regulatory oversight and examination. In the U.S., United Kingdom (U.K.) and other jurisdictions in which the company operates, governmental authorities regularly make inquiries, hold investigations and administer market conduct examinations with respect to the company’s compliance with applicable laws and regulations. Additional lawsuits or regulatory enforcement actions arising out of these inquiries may in the future be filed against the company, related entities and individuals in the U.S., U.K. and other jurisdictions in which the company and its affiliates operate. Any material loss of investor and/or client confidence as a result of such inquiries and/or litigation could result in a significant decline in assets under management (AUM), which would have an adverse effect on the company’s future financial results and its ability to grow its business.
11. CONSOLIDATED INVESTMENT PRODUCTS
The balances related to CIP are identified on the Consolidated Balance Sheets. At June 30, 2024, the company’s net investment in and net receivables from CIP were $415.3 million (December 31, 2023: $546.2 million). The consolidation of CIP had no impact on net income attributable to the company during the three and six months ended June 30, 2024.
The following tables present the fair value hierarchy levels of certain CIP balances which are measured at fair value as of June 30, 2024 and December 31, 2023:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| As of June 30, 2024 |
| (in millions) | Fair Value Measurements | | Quoted Prices in Active Markets for Identical Assets (Level 1) | | Significant Other Observable Inputs
(Level 2) | | Significant Unobservable Inputs
(Level 3) | | Investments Measured at NAV as a practical expedient |
| Assets: | | | | | | | | | |
| | | | | | | | | |
| Bank loans | $ | 6,069.8 | | | $ | — | | | $ | 5,819.3 | | | $ | 250.5 | | | $ | — | |
| Bonds | 608.1 | | | 7.7 | | | 600.1 | | | 0.3 | | | — | |
| Equity securities | 124.1 | | | 25.2 | | | 21.3 | | | 77.6 | | | — | |
| | | | | | | | | |
| | | | | | | | | |
| Equity and fixed income mutual funds | 120.3 | | | 0.7 | | | 119.6 | | | — | | | — | |
| | | | | | | | | |
| Investments in other private equity funds | 454.6 | | | — | | | — | | | — | | | 454.6 | |
| | | | | | | | | |
| Real estate investments | 416.6 | | | — | | | — | | | — | | | 416.6 | |
| | | | | | | | | |
| | | | | | | | | |
| Total assets at fair value | $ | 7,793.5 | | | $ | 33.6 | | | $ | 6,560.3 | | | $ | 328.4 | | | $ | 871.2 | |
| | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| As of December 31, 2023 |
| (in millions) | Fair Value Measurements | | Quoted Prices in Active Markets for Identical Assets (Level 1) | | Significant Other Observable Inputs
(Level 2) | | Significant Unobservable Inputs
(Level 3) | | Investments Measured at NAV as a practical expedient |
| Assets: | | | | | | | | | |
| | | | | | | | | |
| Bank loans | $ | 6,837.2 | | | $ | — | | | $ | 6,140.1 | | | $ | 697.1 | | | $ | — | |
| Bonds | 669.8 | | | 13.3 | | | 656.2 | | | 0.3 | | | — | |
| Equity securities | 231.9 | | | 85.2 | | | 18.3 | | | 128.4 | | | — | |
| | | | | | | | | |
| | | | | | | | | |
| Equity and fixed income mutual funds | 137.9 | | | 8.0 | | | 129.9 | | | — | | | — | |
| | | | | | | | | |
| Investments in other private equity funds | 425.5 | | | — | | | — | | | — | | | 425.5 | |
| | | | | | | | | |
| Real estate investments | 463.6 | | | — | | | — | | | — | | | 463.6 | |
| | | | | | | | | |
| | | | | | | | | |
| Total assets at fair value | $ | 8,765.9 | | | $ | 106.5 | | | $ | 6,944.5 | | | $ | 825.8 | | | $ | 889.1 | |
| | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
The following table shows a reconciliation of the beginning and ending fair value measurements for level 3 assets using significant unobservable inputs:
| | | | | | | | | | | |
| Three months ended June 30, |
| 2024 | | 2023 |
| (in millions) | Level 3 Assets | | Level 3 Assets |
| | | |
| | | |
| Beginning Balance as of April 1 | $ | 1,114.2 | | | $ | 351.3 | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| CIP Purchases | 25.1 | | | 210.4 | |
| | | |
| | | |
| | | |
| CIP Sales | (72.0) | | | (28.7) | |
| Deconsolidation of CIP | (724.9) | | | — | |
| Gains and losses included in the Consolidated Statements of Income | (17.3) | | | 6.4 | |
| Transfers from Level 3 into Levels 1 or 2 | (58.1) | | | (112.3) | |
| Transfers into Level 3 from Levels 1 or 2 | 61.0 | | | 63.7 | |
| Foreign exchange | 0.4 | | | — | |
| Ending Balance as of June 30 | $ | 328.4 | | | $ | 490.8 | |
| | | | | | | | | | | |
| Six months ended June 30, |
| 2024 | | 2023 |
| (in millions) | Level 3 Assets | | Level 3 Assets |
| | | |
| | | |
| Beginning Balance as of January 1 | $ | 825.8 | | | $ | 368.6 | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| CIP Purchases | 300.1 | | | 210.5 | |
| | | |
| | | |
| | | |
| CIP Sales | (74.2) | | | (42.1) | |
| Deconsolidation of CIP | (724.9) | | | (0.6) | |
| Gains and losses included in the Consolidated Statements of Income | (19.2) | | | (1.3) | |
| Transfers from Level 3 into Levels 1 or 2 | (74.3) | | | (242.5) | |
| Transfers into Level 3 from Levels 1 or 2 | 95.6 | | | 195.9 | |
| Foreign exchange | (0.5) | | | 2.3 | |
| Ending Balance as of June 30 | $ | 328.4 | | | $ | 490.8 | |
Non-consolidated Variable interest entities (VIEs)
At June 30, 2024, the company's risk of loss with respect to VIEs in which the company is not the primary beneficiary included our investment carrying value of $132.4 million (December 31, 2023: $122.9 million) and unfunded capital commitments of $142.9 million (December 31, 2023: $142.5 million).
See the company’s most recently filed Form 10-K for additional disclosures on valuation methodology and fair value.
12. RELATED PARTIES
MassMutual owns approximately 18.1% in common stock of the company and owns substantially all of the outstanding $4.0 billion in perpetual, non-cumulative preferred shares as of June 30, 2024. Based on the level of shares owned by MassMutual and the corresponding customary minority shareholder rights, which includes representation on Invesco’s Board of Directors, the company considers MassMutual a related party.
Additionally, certain managed funds are deemed to be affiliated entities under the related party definition in ASC 850, “Related Party Disclosures.” The majority of the company's Operating revenues and receivables are from Invesco's managed funds. Related parties also include those defined in the company’s proxy statement.
Refer to Note 2, "Fair Value of Assets and Liabilities" and Note 3, "Investments" for more information on balances invested in Invesco affiliated funds.
13. SUBSEQUENT EVENTS
On July 22, 2024, the company declared a second quarter 2024 dividend of $0.205 per common share, payable on September 4, 2024, to common shareholders of record at the close of business on August 16, 2024 with an ex-dividend date of August 16, 2024.
On July 22, 2024, the company declared a preferred dividend of $14.75 per preferred share to the holders of preferred shares representing the period from June 1, 2024 through August 31, 2024. The preferred dividend is payable on September 3, 2024.
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
Forward-Looking Statements
The following Management’s Discussion and Analysis of Financial Condition and Results of Operations should be read in conjunction with the Condensed Consolidated Financial Statements and related Notes thereto, which appear elsewhere in this Report. Except for the historical financial information, this Report may include statements that constitute “forward-looking statements” under the U.S. securities laws. Forward-looking statements include information concerning future results of our operations, expenses, earnings, liquidity, cash flow, capital expenditures, and AUM which could differ materially from actual results due to known and unknown risks and other important factors, including, but not limited to, industry or market conditions, geopolitical events and pandemics or health crises and their respective potential impact on the company, acquisitions and divestitures, debt and our ability to obtain additional financing or make payments, regulatory developments, demand for and pricing of our products, the prospects for certain legal contingencies, and other aspects of our business or general economic conditions. In addition, when used in this Report or such other documents or statements, words such as “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates,” “projects,” “forecasts,” and future or conditional verbs such as “will,” “may,” “could,” “should,” and “would” as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. None of this information should be considered in isolation from, or as a substitute for, historical financial statements.
Forward-looking statements are not guarantees, and involve risks, uncertainties and assumptions. There can be no assurance that actual results will not differ materially from our expectations. We caution investors not to rely unduly on any forward-looking statements and urge them to carefully consider the risks described in this Report and our most recent Form 10-K and Forms 10-Q filed with the SEC.
You may obtain these reports from the SEC’s website at www.sec.gov. We expressly disclaim any obligation to update the information in any public disclosure if any forward-looking statement later turns out to be inaccurate.
References
In this Report, unless otherwise specified, the terms “we,” “our,” “us,” “company,” “firm,” and “Invesco” refer to Invesco Ltd., a company incorporated in Bermuda, and its consolidated entities.
Executive Overview
The following executive overview summarizes the significant trends affecting our results of operations and financial condition for the periods presented. This overview and the remainder of this management’s discussion and analysis and supplements should be read in conjunction with the Condensed Consolidated Financial Statements of Invesco Ltd. and the notes thereto contained elsewhere in this Report.
The company is an independent investment management firm dedicated to delivering a superior investment experience. Our comprehensive range of active, passive and alternative investment capabilities has been constructed over many years to help clients achieve their investment objectives. We draw on this comprehensive range of capabilities to provide solutions designed to deliver key outcomes aligned to client needs. One of Invesco's core strengths, and a key differentiator for the company within the industry, is our diversification across investment capabilities, distribution channels and geographies. This broad diversification helps to mitigate some of the impact of different market cycles on Invesco and enables the company to take advantage of growth opportunities in various markets and channels.
Pullbacks in the U.S. market in April eased and markets improved as the quarter progressed. Cooling inflation afforded growing optimism for central bank interest rate cuts, albeit uncertainty around timing remains. Equities markets rebounded in China and the U.K. although other European markets declined. We continue to be well-positioned to capture flows with scale, performance and competitive strength in capabilities that will drive the asset management industry forward.
The table below summarizes returns based on price appreciation/(depreciation) of several major market indices for the three and six months ended June 30, 2024 and 2023:
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| Index expressed in currency | Three months ended June 30, | | Six months ended June 30, |
| Equity Index | 2024 | | 2023 | | 2024 | | 2023 |
| S&P 500 | U.S. Dollar | 3.9 | % | | 8.3 | % | | 14.5 | % | | 15.9 | % |
| FTSE 100 | British Pound | 2.7 | % | | (1.3) | % | | 5.6 | % | | 1.1 | % |
| FTSE 100 | U.S. Dollar | 2.8 | % | | 1.6 | % | | 4.6 | % | | 6.2 | % |
| S&P/TSX 60 Index | Canadian Dollar | (2.2) | % | | 0.7 | % | | 3.2 | % | | 3.9 | % |
| S&P/TSX 60 Index | U.S. Dollar | (3.2) | % | | 2.9 | % | | (0.4) | % | | 6.3 | % |
| MSCI Emerging Markets | U.S. Dollar | 4.1 | % | | (0.1) | % | | 6.1 | % | | 3.5 | % |
| Bond Index | | | | | | | | |
| Barclays U.S. Aggregate Bond | U.S. Dollar | 0.1 | % | | (0.8) | % | | (0.7) | % | | 2.1 | % |
We had $16.7 billion of net long-term inflows for the quarter, primarily driven by Exchange-traded funds (ETFs) and Index, APAC Managed, Private Markets, and Fundamental Fixed Income, driving total AUM to a record $1.7 trillion. Our ending AUM grew 12% year-over-year.
We remain highly focused on our capital priorities, investing in our key capabilities, efficiently allocating resources, and simplifying and streamlining the organization to better position the company for greater scale, performance and improved profitability. During the quarter, adjusted operating margin improved and we continued to deliver on our commitment to improve our leverage profile and maintain a strong balance sheet. We believe the progress we have made to build financial flexibility has Invesco well-positioned to navigate various market conditions and deliver long-term growth. We remain committed to returning capital to shareholders longer term through a combination of modestly increasing dividends and share repurchases. We plan to begin executing share buybacks in the third quarter.
Presentation of Management’s Discussion and Analysis of Financial Condition and Results of Operations - Impact of Consolidated Investment Products
The company provides investment management services to, and has transactions with, investment products sponsored by the company in the normal course of business. The company serves as the investment manager, making day-to-day investment decisions concerning the assets of the products. Investment products that are consolidated are referred to in this Report as CIP. The company’s economic risk with respect to each investment in CIP is limited to its equity ownership, unfunded equity commitments and any uncollected management and performance fees. See also Note 11, "Consolidated Investment Products," for additional information regarding the impact of the consolidation of managed funds.
The majority of the company’s CIP balances are related to collateralized loan obligations (CLOs). The collateral assets of the CLOs are held solely to satisfy the obligations of the CLOs. The company has no right to the benefits from, nor does it bear the risks associated with, the collateral assets held by the CLOs, beyond the company’s direct investments in, and management and performance fees generated from, the CLOs. If the company were to liquidate, the collateral assets would not be available to the general creditors of the company, and as a result, the company does not consider these assets to be company assets. Likewise, the investors in the CLOs have no recourse to the general credit of the company for the notes issued by the CLOs. The company therefore does not consider this debt to be a company liability.
Due to the significant impact that CIP has on the presentation of the company’s Consolidated Financial Statements, the company has elected to deconsolidate these products in its non-GAAP disclosures (among other adjustments). See "Schedule of Non-GAAP Information" for additional information regarding these adjustments. The following discussion therefore combines the results presented under U.S. GAAP with the company’s non-GAAP presentation.
This Management’s Discussion and Analysis of Financial Condition and Results of Operations contains four distinct sections, which follow the AUM discussion:
•Results of Operations (three and six months ended June 30, 2024 compared to three and six months ended June 30, 2023);
•Schedule of Non-GAAP Information;
•Balance Sheet Discussion; and
•Liquidity and Capital Resources.
Summary Operating Information
Wherever a non-GAAP measure is referenced, a disclosure will follow in the narrative or in the note referring the reader to the Schedule of Non-GAAP Information, where additional details regarding the use of the non-GAAP measure by the company are disclosed, along with reconciliations of the most directly comparable U.S. GAAP measures to the non-GAAP measures. To enhance the readability of the Results of Operations section, separate tables for each of the revenue, expense and other income and expenses (non-operating income/expense) sections of the income statement introduce the narrative that follows, providing a section-by-section review of the company’s income statements for the periods presented.
Summary operating information is presented in the table below:
| | | | | | | | | | | | | | | | | | | | | | | |
| (in millions, other than per common share amounts, operating margins and AUM) | Three months ended June 30, | | Six months ended June 30 |
| U.S. GAAP Financial Measures Summary | 2024 | | 2023 | | 2024 | | 2023 |
| Operating revenues | $ | 1,483.3 | | | $ | 1,442.8 | | | $ | 2,958.6 | | | $ | 2,861.0 | |
| Operating income | $ | 206.8 | | | $ | 203.8 | | | $ | 419.9 | | | $ | 413.3 | |
| Operating margin | 13.9 | % | | 14.1 | % | | 14.2 | % | | 14.4 | % |
| Net income attributable to Invesco Ltd. | $ | 132.2 | | | $ | 132.2 | | | $ | 273.7 | | | $ | 277.2 | |
| Diluted EPS | $ | 0.29 | | | $ | 0.29 | | | $ | 0.60 | | | $ | 0.60 | |
| | | | | | | |
Non-GAAP Financial Measures Summary(1) | | | | | | | |
| Net revenues | $ | 1,085.8 | | | $ | 1,090.7 | | | $ | 2,139.0 | | | $ | 2,166.6 | |
| Adjusted operating income | $ | 335.3 | | | $ | 302.0 | | | $ | 631.8 | | | $ | 628.9 | |
| Adjusted operating margin | 30.9 | % | | 27.7 | % | | 29.5 | % | | 29.0 | % |
| Adjusted net income attributable to Invesco Ltd. | $ | 196.2 | | | $ | 144.4 | | | $ | 344.6 | | | $ | 317.8 | |
| Adjusted diluted EPS | $ | 0.43 | | | $ | 0.31 | | | $ | 0.75 | | | $ | 0.69 | |
| | | | | | | |
| Assets Under Management | | | | | | | |
| Ending AUM (billions) | $ | 1,715.8 | | | $ | 1,538.2 | | | $ | 1,715.8 | | | $ | 1,538.2 | |
| Average AUM (billions) | $ | 1,669.3 | | | $ | 1,494.9 | | | $ | 1,641.2 | | | $ | 1,478.9 | |
_________
(1)Net revenues, Adjusted operating income (and by calculation, Adjusted operating margin), and Adjusted net income attributable to Invesco Ltd. (and by calculation, Adjusted diluted EPS) are non-GAAP financial measures, based on methodologies other than U.S. GAAP. See “Schedule of Non-GAAP Information” for a reconciliation of the most directly comparable U.S. GAAP measures to the non-GAAP measures.
Investment Capabilities Performance Overview
Invesco's first strategic objective is a commitment to deliver the excellence our clients expect, which includes strong investment performance over the long-term for our clients. The table below presents investment performance of our actively managed investment products measured by the percentage of our AUM in the first and second quartile compared to our peers and above benchmark for the investment capabilities for which peer and benchmark data are available.(1)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 1st Quartile | | 2nd Quartile | | Above Benchmark |
| 1yr | 3yr | 5yr | | 1yr | 3yr | 5yr | | 1yr | 3yr | 5yr |
| Overall | 45 | % | 39 | % | 42 | % | | 24 | % | 23 | % | 26 | % | | 70 | % | 65 | % | 76 | % |
| | | | | | | | | | | |
| Fundamental Equities | 23 | % | 23 | % | 26 | % | | 29 | % | 23 | % | 26 | % | | 50 | % | 44 | % | 39 | % |
| Fundamental Fixed Income | 49 | % | 20 | % | 44 | % | | 27 | % | 47 | % | 39 | % | | 61 | % | 52 | % | 92 | % |
| Multi-Asset | 50 | % | 30 | % | 11 | % | | 10 | % | 2 | % | 42 | % | | 83 | % | 51 | % | 71 | % |
____________
(1) Excludes passive products, closed-end funds, private equity limited partnerships, non-discretionary funds, unit investment trusts (UITs), fund of funds with component funds managed by Invesco, stable value building block funds and collateralized debt obligations. Certain funds and products were excluded from the analysis because of limited benchmark or peer group data. Had these been available, results may have been different. These results are preliminary and subject to revision.
AUM measured in the one, three and five year quartile rankings represents 40%, 40% and 40% of total Invesco AUM, respectively, and AUM measured versus benchmark on a one, three and five year basis represents 51%, 50%, and 47% of total Invesco AUM as of 6/30/2024. Peer group ranking are sourced from a widely-used third party ranking agency in each fund’s market (Morningstar, IA, Lipper, eVestment, Mercer, Galaxy, SITCA, Value Research) and asset-weighted in USD. Rankings are as of prior quarter-end for most institutional products and prior month-end for Australian retail funds due to their late release by third parties. Rankings are calculated against all funds in each peer group. Rankings for the primary share class of the most representative fund in each composite are applied to all products within each composite. Performance assumes the reinvestment of dividends. Past performance is not indicative of future results and may not reflect an investor’s experience.
Assets Under Management
The following presentation and discussion of AUM includes Passive and Active AUM. Passive AUM includes index-based ETFs, UITs, non-management fee earning AUM and other passive mandates. Active AUM is total AUM less Passive AUM.
Non-management fee earning AUM includes non-management fee earning ETFs, UITs and product leverage. The net flows in non-management fee earning AUM can be relatively short-term in nature and, due to the relatively low revenue yield, can have a significant impact on overall net revenue yield.
The AUM tables and the discussion below refer to certain AUM as long-term. Long-term inflows and the underlying reasons for the movements in this line item include investments from new clients, existing clients adding new accounts/funds or contributions/subscriptions into existing accounts/funds. Long-term outflows reflect client redemptions from accounts/funds and include the return of invested capital upon maturity. We present net flows into money market funds separately because shareholders of those funds typically use them as short-term funding vehicles and the flows are particularly sensitive to short-term interest rate movements.
Changes in AUM by investment approach were as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Three months ended June 30, |
| 2024 | | 2023 |
| (in billions) | Total AUM | | Active | | Passive | | Total AUM | | Active | | Passive |
| Beginning Assets (April 1) | $ | 1,662.7 | | | $ | 995.7 | | | $ | 667.0 | | | $ | 1,483.0 | | | $ | 1,005.2 | | | $ | 477.8 | |
| Long-term inflows | 97.8 | | | 49.7 | | | 48.1 | | | 71.3 | | | 40.1 | | | 31.2 | |
| Long-term outflows | (81.1) | | | (47.4) | | | (33.7) | | | (73.3) | | | (48.5) | | | (24.8) | |
| Net long-term flows | 16.7 | | | 2.3 | | | 14.4 | | | (2.0) | | | (8.4) | | | 6.4 | |
| Net flows in non-management fee earning AUM | 6.6 | | | — | | | 6.6 | | | 1.1 | | | — | | | 1.1 | |
| Net flows in money market funds | 4.9 | | | 4.9 | | | — | | | 15.4 | | | 15.4 | | | — | |
| Total net flows | 28.2 | | | 7.2 | | | 21.0 | | | 14.5 | | | 7.0 | | | 7.5 | |
| Reinvested distributions | 1.4 | | | 1.4 | | | — | | | 1.0 | | | 1.0 | | | — | |
| Market gains and losses | 27.4 | | | 2.9 | | | 24.5 | | | 46.5 | | | 9.9 | | | 36.6 | |
| | | | | | | | | | | |
| | | | | | | | | | | |
| Foreign currency translation | (3.9) | | | (3.9) | | | — | | | (6.8) | | | (6.5) | | | (0.3) | |
| Ending Assets (June 30) | $ | 1,715.8 | | | $ | 1,003.3 | | | $ | 712.5 | | | $ | 1,538.2 | | | $ | 1,016.6 | | | $ | 521.6 | |
| Average AUM | | | | | | | | | | | |
| Average long-term AUM | $ | 1,200.5 | | | $ | 798.9 | | | $ | 401.6 | | | $ | 1,085.9 | | | $ | 788.2 | | | $ | 297.7 | |
| Average AUM | $ | 1,669.3 | | | $ | 994.6 | | | $ | 674.7 | | | $ | 1,494.9 | | | $ | 1,006.1 | | | $ | 488.8 | |
| Average QQQ AUM | $ | 263.8 | | | N/A | | $ | 263.8 | | | $ | 180.9 | | | N/A | | $ | 180.9 | |
| | | | | | | | | | | |
| | | | | | | | | | | |
| | | | | | | | | | | |
| | | | | | | | | | | |
| | | | | | | | | | | |
| | | | | | | | | | | |
| | | | | | | | | | | |
| | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended June 30, |
| 2024 | | 2023 |
| (in billions) | Total AUM | | Active | | Passive | | Total AUM | | Active | | Passive |
| Beginning Assets (January 1) | $ | 1,585.3 | | | $ | 985.3 | | | $ | 600.0 | | | $ | 1,409.2 | | | $ | 976.2 | | | $ | 433.0 | |
| Long-term inflows | 178.1 | | | 92.1 | | | 86.0 | | | 150.7 | | | 87.0 | | | 63.7 | |
| Long-term outflows | (155.1) | | | (96.9) | | | (58.2) | | | (149.8) | | | (97.9) | | | (51.9) | |
| Net long-term flows | 23.0 | | | (4.8) | | | 27.8 | | | 0.9 | | | (10.9) | | | 11.8 | |
| Net flows in non-management fee earning AUM | 16.1 | | | — | | | 16.1 | | | (0.5) | | | — | | | (0.5) | |
| Net flows in money market funds | 5.6 | | | 5.6 | | | — | | | 23.1 | | | 23.1 | | | — | |
| Total net flows | 44.7 | | | 0.8 | | | 43.9 | | | 23.5 | | | 12.2 | | | 11.3 | |
| Reinvested distributions | 2.5 | | | 2.5 | | | — | | | 2.0 | | | 2.0 | | | — | |
| Market gains and losses | 95.4 | | | 25.4 | | | 70.0 | | | 108.4 | | | 30.8 | | | 77.6 | |
| | | | | | | | | | | |
| | | | | | | | | | | |
| Foreign currency translation | (12.1) | | | (10.7) | | | (1.4) | | | (4.9) | | | (4.6) | | | (0.3) | |
| Ending Assets (June 30) | $ | 1,715.8 | | | $ | 1,003.3 | | | $ | 712.5 | | | $ | 1,538.2 | | | $ | 1,016.6 | | | $ | 521.6 | |
| Average AUM | | | | | | | | | | | |
| Average long-term AUM | $ | 1,182.3 | | | $ | 793.3 | | | $ | 389.0 | | | $ | 1,084.5 | | | $ | 788.3 | | | $ | 296.2 | |
| Average AUM | $ | 1,641.2 | | | $ | 987.8 | | | $ | 653.4 | | | $ | 1,478.9 | | | $ | 1,004.0 | | | $ | 474.9 | |
| Average QQQ AUM | $ | 255.0 | | | N/A | | $ | 255.0 | | | $ | 168.5 | | | N/A | | $ | 168.5 | |
| | | | | | | | | | | |
| | | | | | | | | | | |
| | | | | | | | | | | |
| | | | | | | | | | | |
| | | | | | | | | | | |
| | | | | | | | | | | |
| | | | | | | | | | | |
| | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| Three months ended June 30, | | Six Months Ended June 30, | |
| 2024 | | 2023 | | 2024 | | 2023 | |
Revenue yield (bps) (1) | | | | | | | | |
| U.S. GAAP Gross revenue yield | 37.5 | | 41.1 | | 38.0 | | 41.2 | |
Net revenue yield ex performance fees ex QQQ (2) | 30.4 | | 32.5 | | 30.5 | | 32.6 | |
| Active net revenue yield ex performance fees | 36.7 | | 37.6 | | 36.8 | | 37.6 | |
Passive net revenue yield ex QQQ (2) | 15.0 | | 15.9 | | 15.2 | | 16.3 | |
________(1) U.S. GAAP Gross revenue yield is not considered a meaningful effective fee rate measure. Gross revenue yield on AUM is equal to U.S. GAAP annualized total Operating revenues divided by average AUM, excluding Invesco Great Wall Fund Management Company Limited (Invesco Great Wall or IGW) AUM. The average AUM for IGW in the three and six months ended June 30, 2024 was $87.4 billion and $85.6 billion (three and six months ended June 30, 2023: $89.4 billion and $90.2 billion). It is appropriate to exclude the average AUM of IGW as the revenues resulting from these AUM are not presented in our operating revenues. This ratio is not a good measure because the numerator of the U.S. GAAP Gross revenue yield excludes the management fees earned from CIP; however, the denominator of the measure includes the AUM of these investment products. Net revenue yield metrics include the Net revenues and Average AUM of IGW and CIP. See “Schedule of Non-GAAP Information” for a reconciliation of Operating revenues to Net revenues.
(2) Performance fees are earned when certain performance metrics are achieved and QQQ ETFs do not earn net revenues. Therefore, net revenue yield is calculated excluding performance fees and QQQ AUM. Passive net revenue yield is calculated excluding QQQ AUM.
Flows
There are numerous drivers of AUM inflows and outflows, including individual investor decisions to change investments, fiduciaries and other gatekeepers making broad asset allocation decisions on behalf of their clients, and reallocation of investments within portfolios. We are not a party to these asset allocation decisions, as the company does not generally have access to the underlying investor’s decision-making process, including their risk appetite or liquidity needs. Therefore, the company is not in a position to provide meaningful information regarding the drivers of inflows and outflows.
Market Returns
Market gains and losses include the net change in AUM resulting from changes in market values of the underlying securities from period to period. The table in the “Executive Overview” section of this Management’s Discussion and Analysis summarizes returns based on price appreciation/(depreciation) of several major market indices for the three and six months ended June 30, 2024 and 2023.
Foreign Exchange Rates
During the three and six months ended June 30, 2024, we experienced a decrease in AUM of $3.9 billion and $12.1 billion due to changes in foreign exchange rates. In the three and six months ended June 30, 2023, AUM decreased by $6.8 billion and $4.9 billion, due to foreign exchange rate changes.
Total AUM by Channel (1)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Three months ended June 30, |
| 2024 | 2023 |
| (in billions) | Total | | Retail | | Institutional | | Total | | Retail | | Institutional |
| Beginning Assets (April 1) | $ | 1,662.7 | | | $ | 1,116.9 | | | $ | 545.8 | | | $ | 1,483.0 | | | $ | 924.9 | | | $ | 558.1 | |
| Long-term inflows | 97.8 | | | 73.7 | | | 24.1 | | | 71.3 | | | 54.4 | | | 16.9 | |
| Long-term outflows | (81.1) | | | (61.6) | | | (19.5) | | | (73.3) | | | (54.2) | | | (19.1) | |
| Net long-term flows | 16.7 | | | 12.1 | | | 4.6 | | | (2.0) | | | 0.2 | | | (2.2) | |
| Net flows in non-management fee earning AUM | 6.6 | | | 6.7 | | | (0.1) | | | 1.1 | | | 1.1 | | | — | |
| Net flows in money market funds | 4.9 | | | (0.6) | | | 5.5 | | | 15.4 | | | (0.1) | | | 15.5 | |
| Total net flows | 28.2 | | | 18.2 | | | 10.0 | | | 14.5 | | | 1.2 | | | 13.3 | |
| Reinvested distributions | 1.4 | | | 1.4 | | | — | | | 1.0 | | | 0.9 | | | 0.1 | |
| | | | | | | | | | | |
| Market gains and losses | 27.4 | | | 26.3 | | | 1.1 | | | 46.5 | | | 43.6 | | | 2.9 | |
| | | | | | | | | | | |
| Foreign currency translation | (3.9) | | | (1.3) | | | (2.6) | | | (6.8) | | | (2.1) | | | (4.7) | |
| Ending Assets (June 30) | $ | 1,715.8 | | | $ | 1,161.5 | | | $ | 554.3 | | | $ | 1,538.2 | | | $ | 968.5 | | | $ | 569.7 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended June 30, |
| 2024 | 2023 |
| (in billions) | Total | | Retail | | Institutional | | Total | | Retail | | Institutional |
| Beginning Assets (January 1) | $ | 1,585.3 | | | $ | 1,042.0 | | | $ | 543.3 | | | $ | 1,409.2 | | | $ | 872.3 | | | $ | 536.9 | |
| Long-term inflows | 178.1 | | | 133.7 | | | 44.4 | | | 150.7 | | | 109.2 | | | 41.5 | |
| Long-term outflows | (155.1) | | | (115.0) | | | (40.1) | | | (149.8) | | | (112.7) | | | (37.1) | |
| Net long-term flows | 23.0 | | | 18.7 | | | 4.3 | | | 0.9 | | | (3.5) | | | 4.4 | |
| Net flows in non-management fee earning AUM | 16.1 | | | 15.7 | | | 0.4 | | | (0.5) | | | (1.6) | | | 1.1 | |
| Net flows in money market funds | 5.6 | | | 0.6 | | | 5.0 | | | 23.1 | | | 1.1 | | | 22.0 | |
| Total net flows | 44.7 | | | 35.0 | | | 9.7 | | | 23.5 | | | (4.0) | | | 27.5 | |
| Reinvested distributions | 2.5 | | | 2.5 | | | — | | | 2.0 | | | 1.8 | | | 0.2 | |
| | | | | | | | | | | |
| Market gains and losses | 95.4 | | | 86.0 | | | 9.4 | | | 108.4 | | | 99.3 | | | 9.1 | |
| | | | | | | | | | | |
| Foreign currency translation | (12.1) | | | (4.0) | | | (8.1) | | | (4.9) | | | (0.9) | | | (4.0) | |
| Ending Assets (June 30) | $ | 1,715.8 | | | $ | 1,161.5 | | | $ | 554.3 | | | $ | 1,538.2 | | | $ | 968.5 | | | $ | 569.7 | |
________
See accompanying notes immediately following these AUM tables.
Total AUM by Client Domicile (2)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Three months ended June 30, |
| 2024 | 2023 |
| (in billions) | Total | | Americas | | APAC | | EMEA | | Total | | Americas | | APAC | | EMEA |
| Beginning Assets (April 1) | $ | 1,662.7 | | | $ | 1,199.8 | | | $ | 237.6 | | | $ | 225.3 | | | $ | 1,483.0 | | | $ | 1,055.7 | | | $ | 228.6 | | | $ | 198.7 | |
| Long-term inflows | 97.8 | | | 50.4 | | | 28.1 | | | 19.3 | | | 71.3 | | | 35.9 | | | 19.1 | | | 16.3 | |
| Long-term outflows | (81.1) | | | (47.8) | | | (17.9) | | | (15.4) | | | (73.3) | | | (38.9) | | | (17.6) | | | (16.8) | |
| Net long-term flows | 16.7 | | | 2.6 | | | 10.2 | | | 3.9 | | | (2.0) | | | (3.0) | | | 1.5 | | | (0.5) | |
| Net flows in non-management fee earning AUM | 6.6 | | | 5.9 | | | 0.2 | | | 0.5 | | | 1.1 | | | 0.4 | | | 0.3 | | | 0.4 | |
| Net flows in money market funds | 4.9 | | | 6.6 | | | (1.6) | | | (0.1) | | | 15.4 | | | 14.5 | | | 0.6 | | | 0.3 | |
| Total net flows | 28.2 | | | 15.1 | | | 8.8 | | | 4.3 | | | 14.5 | | | 11.9 | | | 2.4 | | | 0.2 | |
| Reinvested distributions | 1.4 | | | 1.3 | | | — | | | 0.1 | | | 1.0 | | | 1.0 | | | — | | | — | |
| Market gains and losses | 27.4 | | | 19.8 | | | 2.4 | | | 5.2 | | | 46.5 | | | 43.7 | | | (0.1) | | | 2.9 | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Foreign currency translation | (3.9) | | | (0.2) | | | (3.4) | | | (0.3) | | | (6.8) | | | 0.5 | | | (9.0) | | | 1.7 | |
| Ending Assets (June 30) | $ | 1,715.8 | | | $ | 1,235.8 | | | $ | 245.4 | | | $ | 234.6 | | | $ | 1,538.2 | | | $ | 1,112.8 | | | $ | 221.9 | | | $ | 203.5 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended June 30, |
| 2024 | 2023 |
| (in billions) | Total | | Americas | | APAC | | EMEA | | Total | | Americas | | APAC | | EMEA |
| Beginning Assets (January 1) | $ | 1,585.3 | | | $ | 1,133.9 | | | $ | 235.5 | | | $ | 215.9 | | | $ | 1,409.2 | | | $ | 999.4 | | | $ | 223.5 | | | $ | 186.3 | |
| Long-term inflows | 178.1 | | | 89.8 | | | 51.1 | | | 37.2 | | | 150.7 | | | 78.0 | | | 38.2 | | | 34.5 | |
| Long-term outflows | (155.1) | | | (85.2) | | | (37.6) | | | (32.3) | | | (149.8) | | | (80.3) | | | (36.7) | | | (32.8) | |
| Net long-term flows | 23.0 | | | 4.6 | | | 13.5 | | | 4.9 | | | 0.9 | | | (2.3) | | | 1.5 | | | 1.7 | |
| Net flows in non-management fee earning AUM | 16.1 | | | 16.0 | | | (0.8) | | | 0.9 | | | (0.5) | | | 0.9 | | | (1.0) | | | (0.4) | |
| Net flows in money market funds | 5.6 | | | 6.3 | | | (0.5) | | | (0.2) | | | 23.1 | | | 20.9 | | | 1.9 | | | 0.3 | |
| Total net flows | 44.7 | | | 26.9 | | | 12.2 | | | 5.6 | | | 23.5 | | | 19.5 | | | 2.4 | | | 1.6 | |
| Reinvested distributions | 2.5 | | | 2.4 | | | — | | | 0.1 | | | 2.0 | | | 2.0 | | | — | | | — | |
| Market gains and losses | 95.4 | | | 73.4 | | | 7.6 | | | 14.4 | | | 108.4 | | | 91.3 | | | 5.2 | | | 11.9 | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Foreign currency translation | (12.1) | | | (0.8) | | | (9.9) | | | (1.4) | | | (4.9) | | | 0.6 | | | (9.2) | | | 3.7 | |
| Ending Assets (June 30) | $ | 1,715.8 | | | $ | 1,235.8 | | | $ | 245.4 | | | $ | 234.6 | | | $ | 1,538.2 | | | $ | 1,112.8 | | | $ | 221.9 | | | $ | 203.5 | |
________
See accompanying notes immediately following these AUM tables.
Total AUM by Investment Capability (3)
Three months ended June 30, 2024 and 2023:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (in billions) | Total | | ETFs and Index (4) | | Fundamental Fixed Income (5) | | Fundamental Equities (6) | | Private Markets (7) | | APAC Managed (8) | | Multi-Asset/ Other (9) | | Global Liquidity (10) | | QQQ (11) | |
| April 1, 2024 | $ | 1,662.7 | | | $ | 398.3 | | | $ | 272.3 | | | $ | 273.6 | | | $ | 127.1 | | | $ | 107.1 | | | $ | 60.2 | | | $ | 164.8 | | | $ | 259.3 | | |
| Long-term inflows | 97.8 | | | 43.4 | | | 16.4 | | | 8.3 | | | 6.6 | | | 21.0 | | | 2.1 | | | — | | | — | | |
| Long-term outflows | (81.1) | | | (30.6) | | | (14.8) | | | (14.6) | | | (4.0) | | | (14.3) | | | (2.8) | | | — | | | — | | |
| Net long-term flows | 16.7 | | | 12.8 | | | 1.6 | | | (6.3) | | | 2.6 | | | 6.7 | | | (0.7) | | | — | | | — | | |
| Net flows in non-management fee earning AUM | 6.6 | | | — | | | — | | | — | | | — | | | — | | | (0.2) | | | — | | | 6.8 | | |
| Net flows in money market funds | 4.9 | | | — | | | — | | | — | | | — | | | (1.7) | | | — | | | 6.6 | | | — | | |
| Total net flows | 28.2 | | | 12.8 | | | 1.6 | | | (6.3) | | | 2.6 | | | 5.0 | | | (0.9) | | | 6.6 | | | 6.8 | | |
| Reinvested distributions | 1.4 | | | — | | | 0.5 | | | 0.5 | | | 0.2 | | | — | | | 0.1 | | | 0.1 | | | — | | |
| Market gains and losses | 27.4 | | | 3.8 | | | 0.4 | | | 1.7 | | | (0.5) | | | 0.9 | | | 0.5 | | | 0.1 | | | 20.5 | | |
| | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Foreign currency translation | (3.9) | | | 0.2 | | | (2.2) | | | (0.7) | | | (0.3) | | | (0.6) | | | (0.3) | | | — | | | — | | |
| June 30, 2024 | $ | 1,715.8 | | | $ | 415.1 | | | $ | 272.6 | | | $ | 268.8 | | | $ | 129.1 | | | $ | 112.4 | | | $ | 59.6 | | | $ | 171.6 | | | $ | 286.6 | | |
| Average AUM | $ | 1,669.3 | | | $ | 401.9 | | | $ | 270.8 | | | $ | 268.0 | | | $ | 127.0 | | | $ | 109.9 | | | $ | 59.3 | | | $ | 168.6 | | | $ | 263.8 | | |
| | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| April 1, 2023 | $ | 1,483.0 | | | $ | 301.6 | | | $ | 267.4 | | | $ | 250.9 | | | $ | 129.9 | | | $ | 114.4 | | | $ | 63.2 | | | $ | 183.0 | | | $ | 172.6 | | |
| Long-term inflows | 71.3 | | | 28.9 | | | 12.9 | | | 9.4 | | | 2.6 | | | 15.6 | | | 1.9 | | | — | | | — | | |
| Long-term outflows | (73.3) | | | (24.2) | | | (14.4) | | | (13.4) | | | (4.3) | | | (14.2) | | | (2.8) | | | — | | | — | | |
| Net long-term flows | (2.0) | | | 4.7 | | | (1.5) | | | (4.0) | | | (1.7) | | | 1.4 | | | (0.9) | | | — | | | — | | |
| Net flows in non-management fee earning AUM | 1.1 | | | — | | | — | | | — | | | — | | | — | | | (0.2) | | | — | | | 1.3 | | |
| Net flows in money market funds | 15.4 | | | — | | | — | | | — | | | — | | | 0.6 | | | — | | | 14.8 | | | — | | |
| Total net flows | 14.5 | | | 4.7 | | | (1.5) | | | (4.0) | | | (1.7) | | | 2.0 | | | (1.1) | | | 14.8 | | | 1.3 | | |
| Reinvested distributions | 1.0 | | | — | | | 0.5 | | | 0.2 | | | 0.2 | | | — | | | — | | | 0.1 | | | — | | |
| Market gains and losses | 46.5 | | | 11.4 | | | 0.3 | | | 10.4 | | | (0.5) | | | (1.5) | | | 0.2 | | | — | | | 26.2 | | |
| | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Foreign currency translation | (6.8) | | | (0.1) | | | (2.4) | | | 0.7 | | | (0.1) | | | (5.3) | | | 0.3 | | | 0.1 | | | — | | |
| June 30, 2023 | $ | 1,538.2 | | | $ | 317.6 | | | $ | 264.3 | | | $ | 258.2 | | | $ | 127.8 | | | $ | 109.6 | | | $ | 62.6 | | | $ | 198.0 | | | $ | 200.1 | | |
| Average AUM | $ | 1,494.9 | | | $ | 303.8 | | | $ | 266.1 | | | $ | 251.5 | | | $ | 128.3 | | | $ | 113.3 | | | $ | 62.6 | | | $ | 188.4 | | | $ | 180.9 | | |
| | | | | | | | | | | | | | | | | | |
________
See accompanying notes immediately following these AUM tables.
Six months ended June 30, 2024 and 2023:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (in billions) | Total | | ETFs and Index (4) | | Fundamental Fixed Income (5) | | Fundamental Equities (6) | | Private Markets (7) | | APAC Managed (8) | | Multi-Asset/ Other (9) | | Global Liquidity (10) | | QQQ (11) | |
| January 1, 2024 | $ | 1,585.3 | | | $ | 362.1 | | | $ | 272.6 | | | $ | 260.5 | | | $ | 129.7 | | | $ | 108.0 | | | $ | 57.4 | | | $ | 165.0 | | | $ | 230.0 | | |
| Long-term inflows | 178.1 | | | 76.4 | | | 32.2 | | | 17.4 | | | 10.4 | | | 37.0 | | | 4.7 | | | — | | | — | | |
| Long-term outflows | (155.1) | | | (52.4) | | | (29.5) | | | (29.3) | | | (6.8) | | | (31.1) | | | (6.0) | | | — | | | — | | |
| Net long-term flows | 23.0 | | | 24.0 | | | 2.7 | | | (11.9) | | | 3.6 | | | 5.9 | | | (1.3) | | | — | | | — | | |
| Net flows in non-management fee earning AUM | 16.1 | | | — | | | — | | | — | | | — | | | — | | | 0.2 | | | — | | | 15.9 | | |
| Net flows in money market funds | 5.6 | | | — | | | — | | | — | | | — | | | (0.6) | | | — | | | 6.2 | | | — | | |
| Total net flows | 44.7 | | | 24.0 | | | 2.7 | | | (11.9) | | | 3.6 | | | 5.3 | | | (1.1) | | | 6.2 | | | 15.9 | | |
| Reinvested distributions | 2.5 | | | — | | | 1.0 | | | 0.8 | | | 0.4 | | | — | | | 0.1 | | | 0.2 | | | — | | |
| Market gains and losses | 95.4 | | | 30.0 | | | 1.3 | | | 21.2 | | | (3.7) | | | 1.6 | | | 4.0 | | | 0.3 | | | 40.7 | | |
| | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Foreign currency translation | (12.1) | | | (1.0) | | | (5.0) | | | (1.8) | | | (0.9) | | | (2.5) | | | (0.8) | | | (0.1) | | | — | | |
| June 30, 2024 | $ | 1,715.8 | | | $ | 415.1 | | | $ | 272.6 | | | $ | 268.8 | | | $ | 129.1 | | | $ | 112.4 | | | $ | 59.6 | | | $ | 171.6 | | | $ | 286.6 | | |
| Average AUM | $ | 1,641.2 | | | $ | 389.5 | | | $ | 270.3 | | | $ | 265.7 | | | $ | 127.3 | | | $ | 108.5 | | | $ | 58.7 | | | $ | 166.2 | | | $ | 255.0 | | |
| | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| January 1, 2023 | $ | 1,409.2 | | | $ | 285.6 | | | $ | 261.3 | | | $ | 238.8 | | | $ | 129.9 | | | $ | 113.6 | | | $ | 57.7 | | | $ | 176.4 | | | $ | 145.9 | | |
| Long-term inflows | 150.7 | | | 59.9 | | | 30.2 | | | 19.1 | | | 7.6 | | | 27.6 | | | 6.3 | | | — | | | — | | |
| Long-term outflows | (149.8) | | | (50.0) | | | (29.8) | | | (26.9) | | | (8.9) | | | (29.2) | | | (5.0) | | | — | | | — | | |
| Net long-term flows | 0.9 | | | 9.9 | | | 0.4 | | | (7.8) | | | (1.3) | | | (1.6) | | | 1.3 | | | — | | | — | | |
| Net flows in non-management fee earning AUM | (0.5) | | | — | | | — | | | — | | | — | | | — | | | 0.8 | | | — | | | (1.3) | | |
| Net flows in money market funds | 23.1 | | | — | | | — | | | — | | | — | | | 1.9 | | | — | | | 21.2 | | | — | | |
| Total net flows | 23.5 | | | 9.9 | | | 0.4 | | | (7.8) | | | (1.3) | | | 0.3 | | | 2.1 | | | 21.2 | | | (1.3) | | |
| Reinvested distributions | 2.0 | | | — | | | 0.9 | | | 0.5 | | | 0.4 | | | — | | | 0.1 | | | 0.1 | | | — | | |
| Market gains and losses | 108.4 | | | 22.3 | | | 3.9 | | | 25.4 | | | (1.5) | | | 0.7 | | | 2.0 | | | 0.1 | | | 55.5 | | |
| | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Foreign currency translation | (4.9) | | | (0.2) | | | (2.2) | | | 1.3 | | | 0.3 | | | (5.0) | | | 0.7 | | | 0.2 | | | — | | |
| June 30, 2023 | $ | 1,538.2 | | | $ | 317.6 | | | $ | 264.3 | | | $ | 258.2 | | | $ | 127.8 | | | $ | 109.6 | | | $ | 62.6 | | | $ | 198.0 | | | $ | 200.1 | | |
| Average AUM | $ | 1,478.9 | | | $ | 302.7 | | | $ | 265.5 | | | $ | 250.2 | | | $ | 129.5 | | | $ | 114.2 | | | $ | 61.9 | | | $ | 186.4 | | | $ | 168.5 | | |
| | | | | | | | | | | | | | | | | | |
________
See accompanying notes immediately following these AUM tables.
Active AUM by Channel (1)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Three months ended June 30, |
| 2024 | 2023 |
| (in billions) | Total | | Retail | | Institutional | | Total | | Retail | | Institutional |
| Beginning Assets (April 1) | $ | 995.7 | | | $ | 514.7 | | | $ | 481.0 | | | $ | 1,005.2 | | | $ | 495.6 | | | $ | 509.6 | |
| Long-term inflows | 49.7 | | | 27.8 | | | 21.9 | | | 40.1 | | | 25.0 | | | 15.1 | |
| Long-term outflows | (47.4) | | | (30.9) | | | (16.5) | | | (48.5) | | | (30.9) | | | (17.6) | |
| Net long-term flows | 2.3 | | | (3.1) | | | 5.4 | | | (8.4) | | | (5.9) | | | (2.5) | |
| | | | | | | | | | | |
| Net flows in money market funds | 4.9 | | | (0.6) | | | 5.5 | | | 15.4 | | | (0.1) | | | 15.5 | |
| Total net flows | 7.2 | | | (3.7) | | | 10.9 | | | 7.0 | | | (6.0) | | | 13.0 | |
Reinvested distributions | 1.4 | | | 1.4 | | | — | | | 1.0 | | | 0.9 | | | 0.1 | |
| | | | | | | | | | | |
| Market gains and losses | 2.9 | | | 1.8 | | | 1.1 | | | 9.9 | | | 9.8 | | | 0.1 | |
| | | | | | | | | | | |
| Foreign currency translation | (3.9) | | | (1.0) | | | (2.9) | | | (6.5) | | | (2.0) | | | (4.5) | |
| Ending Assets (June 30) | $ | 1,003.3 | | | $ | 513.2 | | | $ | 490.1 | | | $ | 1,016.6 | | | $ | 498.3 | | | $ | 518.3 | |
| | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended June 30, |
| 2024 | 2023 |
| (in billions) | Total | | Retail | | Institutional | | Total | | Retail | | Institutional |
| Beginning Assets (January 1) | $ | 985.3 | | | $ | 501.5 | | | $ | 483.8 | | | $ | 976.2 | | | $ | 482.1 | | | $ | 494.1 | |
| Long-term inflows | 92.1 | | | 52.7 | | | 39.4 | | | 87.0 | | | 51.3 | | | 35.7 | |
| Long-term outflows | (96.9) | | | (62.8) | | | (34.1) | | | (97.9) | | | (63.9) | | | (34.0) | |
| Net long-term flows | (4.8) | | | (10.1) | | | 5.3 | | | (10.9) | | | (12.6) | | | 1.7 | |
| | | | | | | | | | | |
| Net flows in money market funds | 5.6 | | | 0.6 | | | 5.0 | | | 23.1 | | | 1.1 | | | 22.0 | |
| Total net flows | 0.8 | | | (9.5) | | | 10.3 | | | 12.2 | | | (11.5) | | | 23.7 | |
Reinvested distributions | 2.5 | | | 2.5 | | | — | | | 2.0 | | | 1.8 | | | 0.2 | |
| | | | | | | | | | | |
| Market gains and losses | 25.4 | | | 21.9 | | | 3.5 | | | 30.8 | | | 26.9 | | | 3.9 | |
| | | | | | | | | | | |
| Foreign currency translation | (10.7) | | | (3.2) | | | (7.5) | | | (4.6) | | | (1.0) | | | (3.6) | |
| Ending Assets (June 30) | $ | 1,003.3 | | | $ | 513.2 | | | $ | 490.1 | | | $ | 1,016.6 | | | $ | 498.3 | | | $ | 518.3 | |
| | | | | | | | | | | |
________
See accompanying notes immediately following these AUM tables.
Active AUM by Client Domicile (2)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Three months ended June 30, |
| 2024 | 2023 |
| (in billions) | Total | | Americas | | APAC | | EMEA | | Total | | Americas | | APAC | | EMEA |
| Beginning Assets (April 1) | $ | 995.7 | | | $ | 682.8 | | | $ | 191.3 | | | $ | 121.6 | | | $ | 1,005.2 | | | $ | 688.7 | | | $ | 195.1 | | | $ | 121.4 | |
| Long-term inflows | 49.7 | | | 19.7 | | | 24.0 | | | 6.0 | | | 40.1 | | | 17.7 | | | 16.0 | | | 6.4 | |
| Long-term outflows | (47.4) | | | (26.2) | | | (14.1) | | | (7.1) | | | (48.5) | | | (26.7) | | | (15.0) | | | (6.8) | |
| Net long-term flows | 2.3 | | | (6.5) | | | 9.9 | | | (1.1) | | | (8.4) | | | (9.0) | | | 1.0 | | | (0.4) | |
| | | | | | | | | | | | | | | |
| Net flows in money market funds | 4.9 | | | 6.6 | | | (1.6) | | | (0.1) | | | 15.4 | | | 14.5 | | | 0.6 | | | 0.3 | |
| Total net flows | 7.2 | | | 0.1 | | | 8.3 | | | (1.2) | | | 7.0 | | | 5.5 | | | 1.6 | | | (0.1) | |
Reinvested distributions | 1.4 | | | 1.3 | | | — | | | 0.1 | | | 1.0 | | | 1.0 | | | — | | | — | |
| Market gains and losses | 2.9 | | | 0.7 | | | 1.1 | | | 1.1 | | | 9.9 | | | 10.9 | | | (1.0) | | | — | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Foreign currency translation | (3.9) | | | (0.1) | | | (3.6) | | | (0.2) | | | (6.5) | | | 0.5 | | | (8.6) | | | 1.6 | |
| Ending Assets (June 30) | $ | 1,003.3 | | | $ | 684.8 | | | $ | 197.1 | | | $ | 121.4 | | | $ | 1,016.6 | | | $ | 706.6 | | | $ | 187.1 | | | $ | 122.9 | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended June 30, |
| 2024 | 2023 |
| (in billions) | Total | | Americas | | APAC | | EMEA | | Total | | Americas | | APAC | | EMEA |
| Beginning Assets (January 1) | $ | 985.3 | | | $ | 671.4 | | | $ | 192.0 | | | $ | 121.9 | | | $ | 976.2 | | | $ | 670.8 | | | $ | 191.0 | | | $ | 114.4 | |
| Long-term inflows | 92.1 | | | 39.0 | | | 40.7 | | | 12.4 | | | 87.0 | | | 39.4 | | | 32.8 | | | 14.8 | |
| Long-term outflows | (96.9) | | | (53.9) | | | (28.7) | | | (14.3) | | | (97.9) | | | (53.9) | | | (30.8) | | | (13.2) | |
| Net long-term flows | (4.8) | | | (14.9) | | | 12.0 | | | (1.9) | | | (10.9) | | | (14.5) | | | 2.0 | | | 1.6 | |
| | | | | | | | | | | | | | | |
| Net flows in money market funds | 5.6 | | | 6.3 | | | (0.5) | | | (0.2) | | | 23.1 | | | 20.9 | | | 1.9 | | | 0.3 | |
| Total net flows | 0.8 | | | (8.6) | | | 11.5 | | | (2.1) | | | 12.2 | | | 6.4 | | | 3.9 | | | 1.9 | |
Reinvested distributions | 2.5 | | | 2.4 | | | — | | | 0.1 | | | 2.0 | | | 2.0 | | | — | | | — | |
| Market gains and losses | 25.4 | | | 20.2 | | | 2.6 | | | 2.6 | | | 30.8 | | | 26.8 | | | 0.7 | | | 3.3 | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Foreign currency translation | (10.7) | | | (0.6) | | | (9.0) | | | (1.1) | | | (4.6) | | | 0.6 | | | (8.5) | | | 3.3 | |
| Ending Assets (June 30) | $ | 1,003.3 | | | $ | 684.8 | | | $ | 197.1 | | | $ | 121.4 | | | $ | 1,016.6 | | | $ | 706.6 | | | $ | 187.1 | | | $ | 122.9 | |
| | | | | | | | | | | | | | | |
________
See accompanying notes immediately following these AUM tables.
Passive AUM by Channel (1)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Three months ended June 30, |
| 2024 | 2023 |
| (in billions) | Total | | Retail | | Institutional | | Total | | Retail | | Institutional |
| Beginning Assets (April 1) | $ | 667.0 | | | $ | 602.2 | | | $ | 64.8 | | | $ | 477.8 | | | $ | 429.3 | | | $ | 48.5 | |
| Long-term inflows | 48.1 | | | 45.9 | | | 2.2 | | | 31.2 | | | 29.4 | | | 1.8 | |
| Long-term outflows | (33.7) | | | (30.7) | | | (3.0) | | | (24.8) | | | (23.3) | | | (1.5) | |
| Net long-term flows | 14.4 | | | 15.2 | | | (0.8) | | | 6.4 | | | 6.1 | | | 0.3 | |
| Net flows in non-management fee earning AUM | 6.6 | | | 6.7 | | | (0.1) | | | 1.1 | | | 1.1 | | | — | |
| | | | | | | | | | | |
| Total net flows | 21.0 | | | 21.9 | | | (0.9) | | | 7.5 | | | 7.2 | | | 0.3 | |
| | | | | | | | | | | |
| | | | | | | | | | | |
| Market gains and losses | 24.5 | | | 24.5 | | | — | | | 36.6 | | | 33.8 | | | 2.8 | |
| | | | | | | | | | | |
| Foreign currency translation | — | | | (0.3) | | | 0.3 | | | (0.3) | | | (0.1) | | | (0.2) | |
| Ending Assets (June 30) | $ | 712.5 | | | $ | 648.3 | | | $ | 64.2 | | | $ | 521.6 | | | $ | 470.2 | | | $ | 51.4 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended June 30, |
| 2024 | 2023 |
| (in billions) | Total | | Retail | | Institutional | | Total | | Retail | | Institutional |
| Beginning Assets (January 1) | $ | 600.0 | | | $ | 540.5 | | | $ | 59.5 | | | $ | 433.0 | | | $ | 390.2 | | | $ | 42.8 | |
| Long-term inflows | 86.0 | | | 81.0 | | | 5.0 | | | 63.7 | | | 57.9 | | | 5.8 | |
| Long-term outflows | (58.2) | | | (52.2) | | | (6.0) | | | (51.9) | | | (48.8) | | | (3.1) | |
| Net long-term flows | 27.8 | | | 28.8 | | | (1.0) | | | 11.8 | | | 9.1 | | | 2.7 | |
| Net flows in non-management fee earning AUM | 16.1 | | | 15.7 | | | 0.4 | | | (0.5) | | | (1.6) | | | 1.1 | |
| | | | | | | | | | | |
| Total net flows | 43.9 | | | 44.5 | | | (0.6) | | | 11.3 | | | 7.5 | | | 3.8 | |
| | | | | | | | | | | |
| | | | | | | | | | | |
| Market gains and losses | 70.0 | | | 64.1 | | | 5.9 | | | 77.6 | | | 72.4 | | | 5.2 | |
| | | | | | | | | | | |
| Foreign currency translation | (1.4) | | | (0.8) | | | (0.6) | | | (0.3) | | | 0.1 | | | (0.4) | |
| Ending Assets (June 30) | $ | 712.5 | | | $ | 648.3 | | | $ | 64.2 | | | $ | 521.6 | | | $ | 470.2 | | | $ | 51.4 | |
________
See accompanying notes immediately following these AUM tables.
Passive AUM by Client Domicile (2)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Three months ended June 30, |
| 2024 | 2023 |
| (in billions) | Total | | Americas | | APAC | | EMEA | | Total | | Americas | | APAC | | EMEA |
| Beginning Assets (April 1) | $ | 667.0 | | | $ | 517.0 | | | $ | 46.3 | | | $ | 103.7 | | | $ | 477.8 | | | $ | 367.0 | | | $ | 33.5 | | | $ | 77.3 | |
| Long-term inflows | 48.1 | | | 30.7 | | | 4.1 | | | 13.3 | | | 31.2 | | | 18.2 | | | 3.1 | | | 9.9 | |
| Long-term outflows | (33.7) | | | (21.6) | | | (3.8) | | | (8.3) | | | (24.8) | | | (12.2) | | | (2.6) | | | (10.0) | |
| Net long-term flows | 14.4 | | | 9.1 | | | 0.3 | | | 5.0 | | | 6.4 | | | 6.0 | | | 0.5 | | | (0.1) | |
| Net flows in non-management fee earning AUM | 6.6 | | | 5.9 | | | 0.2 | | | 0.5 | | | 1.1 | | | 0.4 | | | 0.3 | | | 0.4 | |
| | | | | | | | | | | | | | | |
| Total net flows | 21.0 | | | 15.0 | | | 0.5 | | | 5.5 | | | 7.5 | | | 6.4 | | | 0.8 | | | 0.3 | |
| | | | | | | | | | | | | | | |
| Market gains and losses | 24.5 | | | 19.1 | | | 1.3 | | | 4.1 | | | 36.6 | | | 32.8 | | | 0.9 | | | 2.9 | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Foreign currency translation | — | | | (0.1) | | | 0.2 | | | (0.1) | | | (0.3) | | | — | | | (0.4) | | | 0.1 | |
| Ending Assets (June 30) | $ | 712.5 | | | $ | 551.0 | | | $ | 48.3 | | | $ | 113.2 | | | $ | 521.6 | | | $ | 406.2 | | | $ | 34.8 | | | $ | 80.6 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended June 30, |
| 2024 | 2023 |
| (in billions) | Total | | Americas | | APAC | | EMEA | | Total | | Americas | | APAC | | EMEA |
| Beginning Assets (January 1) | $ | 600.0 | | | $ | 462.5 | | | $ | 43.5 | | | $ | 94.0 | | | $ | 433.0 | | | $ | 328.6 | | | $ | 32.5 | | | $ | 71.9 | |
| Long-term inflows | 86.0 | | | 50.8 | | | 10.4 | | | 24.8 | | | 63.7 | | | 38.6 | | | 5.4 | | | 19.7 | |
| Long-term outflows | (58.2) | | | (31.3) | | | (8.9) | | | (18.0) | | | (51.9) | | | (26.4) | | | (5.9) | | | (19.6) | |
| Net long-term flows | 27.8 | | | 19.5 | | | 1.5 | | | 6.8 | | | 11.8 | | | 12.2 | | | (0.5) | | | 0.1 | |
| Net flows in non-management fee earning AUM | 16.1 | | | 16.0 | | | (0.8) | | | 0.9 | | | (0.5) | | | 0.9 | | | (1.0) | | | (0.4) | |
| | | | | | | | | | | | | | | |
| Total net flows | 43.9 | | | 35.5 | | | 0.7 | | | 7.7 | | | 11.3 | | | 13.1 | | | (1.5) | | | (0.3) | |
| | | | | | | | | | | | | | | |
| Market gains and losses | 70.0 | | | 53.2 | | | 5.0 | | | 11.8 | | | 77.6 | | | 64.5 | | | 4.5 | | | 8.6 | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Foreign currency translation | (1.4) | | | (0.2) | | | (0.9) | | | (0.3) | | | (0.3) | | | — | | | (0.7) | | | 0.4 | |
| Ending Assets (June 30) | $ | 712.5 | | | $ | 551.0 | | | $ | 48.3 | | | $ | 113.2 | | | $ | 521.6 | | | $ | 406.2 | | | $ | 34.8 | | | $ | 80.6 | |
_________
(1) Channel refers to the internal distribution channel from which the AUM originated. Retail AUM represents AUM distributed by the company’s retail sales team. Institutional AUM represents AUM distributed by our institutional sales team. This aggregation is viewed as a proxy for presenting AUM in the retail and institutional markets in which the company operates.
(2) Client domicile groups AUM by the domicile of the underlying clients.
(3) Investment capabilities are descriptive groupings of AUM by investment strategy. The company believes that presenting AUM by investment capability provides a more granular depiction of asset categorization and removed presentation of AUM by asset class in the quarter ending March 31, 2024. The comparative period reflects the current period presentation.
(4) ETFs and Index includes ETFs and Indexed Strategies; excludes Invesco QQQ Trust.
(5) Fundamental Fixed Income includes Fixed Income products, including certain ETFs managed within this capability.
(6) Fundamental Equities includes Equity products.
(7) Private Markets includes Private Credit and Real Estate investments comprised primarily of Real Estate, CLOs, Private Credit and listed real assets, including certain ETFs managed within this capability.
(8) APAC Managed includes all products managed in the APAC region, including Invesco Great Wall, APAC managed short term, Money Market, passive, and ETFs.
(9) Multi-Asset/Other includes Global Asset Allocation, Invesco Quantitative Strategies, Global Targeted Returns, Solutions, Intelliflo, and UITs, including certain ETFs managed within this capability.
(10) Global Liquidity is comprised mainly of Money Market funds excluding APAC Money Market funds.
(11) QQQ includes Invesco QQQ Trust.
Results of Operations for the three and six months ended June 30, 2024 compared to the three and six months ended June 30, 2023
The discussion below includes the use of non-GAAP financial measures. See “Schedule of Non-GAAP Information” for additional details and reconciliations of the most directly comparable U.S. GAAP measures to the non-GAAP measures.
Operating Revenues and Net Revenues
The main categories of revenues, and the dollar and percentage change between the periods, are as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Three months ended | | Six months ended | | | | | | |
| June 30, | | Variance | | June 30, | | Variance | | | | |
| (in millions) | 2024 | | 2023 | | $ Change | | % Change | | 2024 | | 2023 | | $ Change | | % Change | | | | | | | | |
| Investment management fees | $ | 1,065.8 | | | $ | 1,033.5 | | | $ | 32.3 | | | 3.1 | % | | $ | 2,114.5 | | | $ | 2,061.4 | | | $ | 53.1 | | | 2.6 | % | | | | | | | | |
| Service and distribution fees | 361.6 | | | 342.3 | | | 19.3 | | | 5.6 | % | | 738.6 | | | 676.5 | | | 62.1 | | | 9.2 | % | | | | | | | | |
| Performance fees | 8.7 | | | 19.6 | | | (10.9) | | | (55.6) | % | | 9.5 | | | 25.2 | | | (15.7) | | | (62.3) | % | | | | | | | | |
| Other | 47.2 | | | 47.4 | | | (0.2) | | | (0.4) | % | | 96.0 | | | 97.9 | | | (1.9) | | | (1.9) | % | | | | | | | | |
| Total operating revenues | $ | 1,483.3 | | | $ | 1,442.8 | | | $ | 40.5 | | | 2.8 | % | | $ | 2,958.6 | | | $ | 2,861.0 | | | $ | 97.6 | | | 3.4 | % | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| Revenue Adjustments: | | | | | | | | | | | | | | | | | | | | | | | |
| Investment management fees | $ | (203.8) | | | $ | (195.4) | | | $ | (8.4) | | | 4.3 | % | | $ | (396.1) | | | $ | (385.2) | | | $ | (10.9) | | | 2.8 | % | | | | | | | | |
| Service and distribution fees | (253.5) | | | (230.9) | | | (22.6) | | | 9.8 | % | | (525.3) | | | (456.2) | | | (69.1) | | | 15.1 | % | | | | | | | | |
| Other | (38.1) | | | (36.2) | | | (1.9) | | | 5.2 | % | | (78.0) | | | (76.2) | | | (1.8) | | | 2.4 | % | | | | | | | | |
Total Revenue Adjustments (1) | (495.4) | | | (462.5) | | | (32.9) | | | 7.1 | % | | (999.4) | | | (917.6) | | | (81.8) | | | 8.9 | % | | | | | | | | |
| Invesco Great Wall | 86.1 | | | 97.6 | | | (11.5) | | | (11.8) | % | | 160.8 | | | 198.1 | | | (37.3) | | | (18.8) | % | | | | | | | | |
| CIP | 11.8 | | | 12.8 | | | (1.0) | | | (7.8) | % | | 19.0 | | | 25.1 | | | (6.1) | | | (24.3) | % | | | | | | | | |
Net revenues (2) | $ | 1,085.8 | | | $ | 1,090.7 | | | $ | (4.9) | | | (0.4) | % | | $ | 2,139.0 | | | $ | 2,166.6 | | | $ | (27.6) | | | (1.3) | % | | | | | | | | |
____________
(1) Total revenue adjustments remove pass through investment management fees, service and distribution fees, and other revenues and equal the same amount as the Third-party distribution, service and advisory expenses.
(2) See “Schedule of Non-GAAP Information” for additional important disclosures regarding the use of net revenues.
Our revenues are directly influenced by the level and composition of our AUM. Therefore, movements in global capital market levels, net inflows (or outflows), and changes in the mix of investment products between asset classes and geographies may materially affect our revenues from period to period. See the company’s disclosures regarding the changes in AUM during the three and six months ended June 30, 2024 and June 30, 2023 in the “Assets Under Management” section above for additional information.
Passive AUM generally earn a lower effective fee rate than Active AUM, and therefore, changes in the mix of AUM between Active and Passive have an impact on revenues and net revenue yield. Average AUM were $1,669.3 billion for the three months ended June 30, 2024 as compared to $1,494.9 billion for the three months ended June 30, 2023. The impact of the increase in AUM on our revenues was partially offset by the shift in AUM toward lower yield passive products, such as ETFs. As a result, net revenue yield excluding performance fees and QQQ declined to 30.4 basis points (bps) for the three months ended June 30, 2024 from 32.5 bps for the three months ended June 30, 2023.
Average AUM were $1,641.2 billion for the six months ended June 30, 2024 as compared to $1,478.9 billion for the six months ended June 30, 2023. The impact of the increase in AUM on our revenues was partially offset by the shift in AUM toward lower yield passive products, such as ETFs. As a result, net revenue yield excluding performance fees and QQQ declined to 30.5 bps for the six months ended June 30, 2024 from 32.6 bps for the six months ended June 30, 2023.
In addition, as fee rates differ across geographic locations, changes to the mix of AUM between geographies and exchange rates have an impact on revenues and net revenue yields.
Investment Management Fees
Investment management fees were $1,065.8 million for three months ended June 30, 2024 as compared to $1,033.5 million for three months ended June 30, 2023, as a result of higher average AUM partially offset by the shift in AUM toward lower yield products. See discussion above on how AUM changes impact our Investment management fees.
Investment management fees were $2,114.5 million for six months ended June 30, 2024 as compared to $2,061.4 million for six months ended June 30, 2023, as a result of higher average AUM partially offset by the shift in AUM toward lower yield products. See discussion above on how AUM changes impact our Investment management fees.
Service and Distribution Fees
In the three months ended June 30, 2024, Service and distribution fees were $361.6 million as compared to $342.3 million for the three months ended June 30, 2023. The increase was primarily driven by higher distribution fees of $23.6 million resulting from higher AUM to which the fees apply.
In the six months ended June 30, 2024, Service and distribution fees were $738.6 million as compared to $676.5 million for the six months ended June 30, 2023. The increase was primarily driven by higher distribution fees of $46.9 million and administrative fees of $13.8 million resulting from higher fund-related service fees and higher AUM to which the fees apply.
Performance Fees
Performance fees were $8.7 million and $9.5 million for the three and six months ended June 30, 2024, respectively, and were primarily generated from private markets real estate products.
Performance fees were $19.6 million and $25.2 million for the three and six months ended June 30, 2023, respectively, and were primarily generated from private markets real estate products.
Other Revenues
In the three months ended June 30, 2024, Other revenues were $47.2 million as compared to $47.4 million for the three months ended June 30, 2023.
In the six months ended June 30, 2024, Other revenues were $96.0 million as compared to $97.9 million for the six months ended June 30, 2023.
Invesco Great Wall
The company’s most significant joint venture is our 49% investment in IGW. The company reflects 100% of IGW's results in its Net revenues and Adjusted operating expenses because it is important to evaluate the contribution that IGW is making to the business. The company’s non-GAAP operating results reflect the economics of these holdings on a basis consistent with the underlying AUM and flows. Adjusted net income is reduced by the amount of earnings attributable to the 51% noncontrolling interests. See “Schedule of Non-GAAP Information” for additional disclosures regarding the use of Net revenues.
Net revenues from IGW were $86.1 million and average AUM was $87.4 billion for the three months ended June 30, 2024 (Net revenues were $97.6 million and average AUM was $89.4 billion for the three months ended June 30, 2023). The decrease in IGW revenues is primarily driven by the implementation of the regulatory mandated fee reductions in China and the shift in AUM toward lower yield products, partially offset by higher performance fees.
Net revenues from IGW were $160.8 million and average AUM was $85.6 billion for the six months ended June 30, 2024 (Net revenues were $198.1 million and average AUM was $90.2 billion for the six months ended June 30, 2023). The decrease in IGW revenues is primarily driven by the implementation of the regulatory mandated fee reductions in China, lower average AUM and the shift in AUM toward lower yield products, partially offset by higher performance fees.
Management, performance and other fees earned from CIP
Management believes that the consolidation of investment products may impact a reader's analysis of our underlying results of operations and could result in investor confusion or the production of information about the company by analysts or external credit rating agencies that is not reflective of the underlying results of operations and financial condition of the company. Accordingly, management believes that it is appropriate to adjust Operating revenues for the impact of CIP in calculating Net revenues. As Management and Performance fees earned by Invesco from the consolidated products are eliminated upon consolidation of the investment products, management believes that it is appropriate to add these Operating revenues back in the calculation of Net revenues. See “Schedule of Non-GAAP Information” for additional disclosures regarding the use of Net revenues.
Management and Performance fees earned from CIP were $11.8 million for the three months ended June 30, 2024 (three months ended June 30, 2023: $12.8 million).
Management and Performance fees earned from CIP were $19.0 million for the six months ended June 30, 2024 (six months ended June 30, 2023: $25.1 million).
Operating Expenses
The main categories of Operating expenses, and the dollar and percentage changes between periods, are as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Three months ended | | Six months ended |
| June 30, | Variance | | June 30, | | Variance |
| (in millions) | 2024 | | 2023 | | $ Change | | % Change | | 2024 | | 2023 | | $ Change | | % Change |
| Third-party distribution, service and advisory | $ | 495.4 | | | $ | 462.5 | | | $ | 32.9 | | | 7.1 | % | | $ | 999.4 | | | $ | 917.6 | | | $ | 81.8 | | | 8.9 | % |
| Employee compensation | 452.3 | | | 475.7 | | | (23.4) | | | (4.9) | % | | 925.0 | | | 938.5 | | | (13.5) | | | (1.4) | % |
Marketing (1) | 20.6 | | | 23.1 | | | (2.5) | | | (10.8) | % | | 38.7 | | | 42.7 | | | (4.0) | | | (9.4) | % |
Property, office and technology (1) | 116.4 | | | 112.7 | | | 3.7 | | | 3.3 | % | | 234.0 | | | 223.2 | | | 10.8 | | | 4.8 | % |
General and administrative (1) | 180.4 | | | 151.9 | | | 28.5 | | | 18.8 | % | | 318.9 | | | 256.9 | | | 62.0 | | | 24.1 | % |
| Transaction, integration and restructuring | — | | | — | | | — | | | N/A | | — | | | 41.6 | | | (41.6) | | | (100.0) | % |
| Amortization of intangibles | 11.4 | | | 13.1 | | | (1.7) | | | (13.0) | % | | 22.7 | | | 27.2 | | | (4.5) | | | (16.5) | % |
| Total operating expenses | $ | 1,276.5 | | | $ | 1,239.0 | | | $ | 37.5 | | | 3.0 | % | | $ | 2,538.7 | | | $ | 2,447.7 | | | $ | 91.0 | | | 3.7 | % |
The table below sets forth these expense categories as a percentage of total Operating expenses and Operating revenues, which we believe provides useful information as to the relative significance of each type of expense.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (in millions) | Three months ended June 30, 2024 | | % of Total Operating Expenses | | % of Operating Revenues | | Three months ended June 30, 2023 | | % of Total Operating Expenses | | % of Operating Revenues |
| Third-party distribution, service and advisory | $ | 495.4 | | | 38.8 | % | | 33.4 | % | | $ | 462.5 | | | 37.3 | % | | 32.1 | % |
| Employee compensation | 452.3 | | 35.4 | % | | 30.5 | % | | 475.7 | | | 38.4 | % | | 33.0 | % |
Marketing (1) | 20.6 | | 1.6 | % | | 1.4 | % | | 23.1 | | | 1.9 | % | | 1.6 | % |
Property, office and technology (1) | 116.4 | | 9.1 | % | | 7.8 | % | | 112.7 | | | 9.1 | % | | 7.8 | % |
General and administrative (1) | 180.4 | | 14.2 | % | | 12.2 | % | | 151.9 | | | 12.2 | % | | 10.5 | % |
| | | | | | | | | | | |
| Amortization of intangibles | 11.4 | | 0.9 | % | | 0.8 | % | | 13.1 | | | 1.1 | % | | 0.9 | % |
| Total operating expenses | $ | 1,276.5 | | | 100.0 | % | | 86.1 | % | | $ | 1,239.0 | | | 100.0 | % | | 85.9 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (in millions) | Six months ended June 30, 2024 | | % of Total Operating Expenses | | % of Operating Revenues | | Six months ended June 30, 2023 | | % of Total Operating Expenses | | % of Operating Revenues |
| Third-party distribution, service and advisory | $ | 999.4 | | | 39.4 | % | | 33.8 | % | | $ | 917.6 | | | 37.5 | % | | 32.1 | % |
| Employee compensation | 925.0 | | 36.4 | % | | 31.2 | % | | 938.5 | | | 38.3 | % | | 32.7 | % |
Marketing (1) | 38.7 | | 1.5 | % | | 1.3 | % | | 42.7 | | | 1.8 | % | | 1.5 | % |
Property, office and technology (1) | 234.0 | | 9.2 | % | | 7.9 | % | | 223.2 | | | 9.1 | % | | 7.8 | % |
General and administrative (1) | 318.9 | | 12.6 | % | | 10.8 | % | | 256.9 | | | 10.5 | % | | 9.0 | % |
| Transaction, integration and restructuring | — | | — | % | | — | % | | 41.6 | | | 1.7 | % | | 1.5 | % |
| Amortization of intangibles | 22.7 | | 0.9 | % | | 0.8 | % | | 27.2 | | | 1.1 | % | | 1.0 | % |
| Total operating expenses | $ | 2,538.7 | | | 100.0 | % | | 85.8 | % | | $ | 2,447.7 | | | 100.0 | % | | 85.6 | % |
__________
(1) Comparative period presented reflects reclassification of certain operating expenses to align with current period presentation. The reclassification had no impact on our reported Operating revenues, Operating income, Net income, or any internal performance measure on which management is compensated. See Note 1, "Accounting Policies," for additional information.
During the three months ended June 30, 2024, Operating expenses increased $37.5 million compared to the three months ended June 30, 2023.
During the six months ended June 30, 2024, Operating expenses increased $91.0 million compared to the six months ended June 30, 2023.
Third-Party Distribution, Service and Advisory
Third-party distribution, service and advisory expenses were $495.4 million for the three months ended June 30, 2024 as compared to $462.5 million for the three months ended June 30, 2023. The increase was due to an increase in pass-through Service and distribution costs resulting from higher AUM.
Third-party distribution, service and advisory expenses were $999.4 million for the six months ended June 30, 2024 as compared to $917.6 million for the six months ended June 30, 2023. The increase was due to an increase in pass-through Service and distribution costs resulting from higher fund costs and higher AUM.
Employee Compensation
Employee compensation was $452.3 million for the three months ended June 30, 2024 as compared to $475.7 million for the three months ended June 30, 2023. This decrease was primarily due to lower costs related to executive retirements and organizational changes.
Employee compensation was $925.0 million for the six months ended June 30, 2024 as compared to $938.5 million for the six months ended June 30, 2023. This decrease was primarily due to lower costs related to executive retirements and organizational changes of $25.8 million during the six months ended June 30, 2024, partially offset by an increase of $12.3 million in expense related to the mark-to-market on deferred compensation liabilities and staff costs.
Headcount at June 30, 2024 was 8,536 (June 30, 2023: 8,621).
Marketing
Marketing expenses were $20.6 million for the three months ended June 30, 2024 as compared to $23.1 million for the three months ended June 30, 2023.
Marketing expenses were $38.7 million for the six months ended June 30, 2024 as compared to $42.7 million for the six months ended June 30, 2023.
Property, Office and Technology
Property, office and technology costs were $116.4 million for the three months ended June 30, 2024 as compared to $112.7 million for the three months ended June 30, 2023.
Property, office and technology costs were $234.0 million for the six months ended June 30, 2024 as compared to $223.2 million for the six months ended June 30, 2023. The increase was primarily driven by higher technology costs.
General and Administrative
General and administrative expenses were $180.4 million for the three months ended June 30, 2024 as compared to $151.9 million for the three months ended June 30, 2023. The increase was primarily due to the accrual of a $50.0 million liability in the second quarter in connection with a previously disclosed SEC investigation into electronic business communications recordkeeping requirements and a separate regulatory matter, which was partially offset by lower professional fees of $18.8 million.
General and administrative expenses were $318.9 million for the six months ended June 30, 2024 as compared to $256.9 million for the six months ended June 30, 2023. The increase was primarily due to the accrual of a $50.0 million liability in the second quarter of 2024 in connection with a previously disclosed SEC investigation into electronic business communications recordkeeping requirements and a separate regulatory matter. In addition, the expense for the six months ended June 30, 2024 was lower due to $14.8 million of indirect tax refunds.
Transaction, Integration and Restructuring
Transaction, integration and restructuring charges incurred during the six months ended June 30, 2023 were primarily comprised of compensation-related restructuring costs relating to our strategic evaluation which we completed in the first quarter of 2023. With the completion of strategic initiatives, any costs related to on-going projects are classified in the income statement based on the nature of the expense.
Other Income and Expenses
The main categories of Other income and expenses, and the dollar and percentage changes between periods, are as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | Variance | | | | | | | | | | | | Variance | | | | | |
| Three months ended June 30, | | 2024 vs 2023 | | | | | | Six months ended June 30, | | 2024 vs 2023 | | | |
| (in millions) | 2024 | | 2023 | | $ Change | | % Change | | | | | | | | | | 2024 | | 2023 | | $ Change | | % Change | | | | | | | | |
| Equity in earnings of unconsolidated affiliates | $ | 13.9 | | | $ | 19.2 | | | $ | (5.3) | | | (27.6) | % | | | | | | | | | | $ | 20.8 | | | $ | 45.3 | | | $ | (24.5) | | | (54.1) | % | | | | | | | | |
| Interest and dividend income | 11.0 | | | 7.1 | | | 3.9 | | | 54.9 | % | | | | | | | | | | 23.4 | | | 15.7 | | | 7.7 | | | 49.0 | % | | | | | | | | |
| Interest expense | (16.3) | | | (18.4) | | | 2.1 | | | (11.4) | % | | | | | | | | | | (32.2) | | | (36.4) | | | 4.2 | | | (11.5) | % | | | | | | | | |
| Other gains/(losses), net | 3.6 | | | 20.9 | | | (17.3) | | | (82.8) | % | | | | | | | | | | 39.5 | | | 48.3 | | | (8.8) | | | (18.2) | % | | | | | | | | |
| Other income/(expense) of CIP, net | 40.9 | | | (2.7) | | | 43.6 | | | N/A | | | | | | | | | | 71.4 | | | (20.6) | | | 92.0 | | | N/A | | | | | | | | |
| Total other income and expenses | $ | 53.1 | | | $ | 26.1 | | | $ | 27.0 | | | 103.4 | % | | | | | | | | | | $ | 122.9 | | | $ | 52.3 | | | $ | 70.6 | | | 135.0 | % | | | | | | | | |
Equity in earnings of unconsolidated affiliates
Equity in earnings of unconsolidated affiliates decreased to $13.9 million for the three months ended June 30, 2024 as compared to $19.2 million for the three months ended June 30, 2023. The decrease was primarily driven by lower earnings from our joint venture investment in IGW as discussed above.
Equity in earnings of unconsolidated affiliates decreased to $20.8 million for the six months ended June 30, 2024 as compared to $45.3 million for the six months ended June 30, 2023. The decrease was primarily driven by losses on our private markets investments and lower earnings from our joint venture investment in IGW as discussed above.
Interest and dividend income
Interest and dividend income was $11.0 million for the three months ended June 30, 2024 as compared to $7.1 million for the three months ended June 30, 2023. The increase was primarily due to higher dividend income earned on our private markets investments and interest income earned from Cash and cash equivalents.
Interest and dividend income was $23.4 million for the six months ended June 30, 2024 as compared to $15.7 million for the six months ended June 30, 2023. The increase was primarily due to higher interest income earned from Cash and cash equivalents and higher dividend income earned on our private markets investments.
Interest expense
Interest expense was $16.3 million for the three months ended June 30, 2024 as compared to $18.4 million for the three months ended June 30, 2023 as a result of the decrease in outstanding debt.
Interest expense was $32.2 million for the six months ended June 30, 2024 as compared to $36.4 million for the six months ended June 30, 2023 as a result of the decrease in outstanding debt.
Other gains/(losses), net
Other gains/(losses), net was a net gain of $3.6 million for the three months ended June 30, 2024 as compared to a net gain of $20.9 million for the three months ended June 30, 2023. The net gains for the three months ended June 30, 2024 and June 30, 2023 included mark-to-market net gains on investments and instruments held for our deferred compensation plans and on seed capital investments.
Other gains/(losses), net was a net gain of $39.5 million for the six months ended June 30, 2024 as compared to a net gain of $48.3 million for the six months ended June 30, 2023. The net gains for the six months ended June 30, 2024 and June 30, 2023 included mark-to-market net gains on investments and instruments held for our deferred compensation plans and on seed capital investments.
Other income/(expense) of CIP, net
For the three months ended June 30, 2024, Other income/(expense) of CIP, net was net income of $40.9 million (three months ended June 30, 2023: net expense of $2.7 million). Interest and dividend income of CIP increased $6.5 million to $170.2 million (three months ended June 30, 2023: $163.7 million). Interest expense of CIP increased $10.0 million to $119.7 million (three months ended June 30, 2023: $109.7 million). Unrealized gains/(losses) of CIP were net losses of $9.6 million (three months ended June 30, 2023: net losses of $56.7 million).
For the six months ended June 30, 2024, Other income/(expense) of CIP, net was net income of $71.4 million (six months ended June 30, 2023: net expense of $20.6 million). Interest and dividend income of CIP decreased $53.0 million to $250.3 million (six months ended June 30, 2023: $303.3 million). Interest expense of CIP decreased $37.1 million to $166.9 million (six months ended June 30, 2023: $204.0 million). Unrealized gains/(losses) of CIP were net losses of $12.0 million (six months ended June 30, 2023: net losses of $119.9 million).
Net impact of CIP and related noncontrolling interests in consolidated entities
The adjustment to Net income for the Net income/(loss) attributable to noncontrolling interests in consolidated entities removes the income/(expense) of CIP which is attributable to third-party investors. Therefore, the consolidation of investment products did not have an impact on Net income attributable to Invesco for the six months ended June 30, 2024 and June 30, 2023. Also, the net income or loss of CIP is taxed at the investor level, not at the product level; therefore, a tax provision is not reflected in the net impact of CIP.
Income Tax Expense
The company’s subsidiaries operate in numerous taxing jurisdictions around the world, each with its own statutory tax rate. As a result, the blended statutory tax rate will vary from year to year depending on the mix of the profits and losses from each jurisdiction.
Our effective tax rate decreased to 24.6% for the three months ended June 30, 2024 (three months ended June 30, 2023: 28.5%). The decrease in the effective tax rate in the second quarter of 2024 was primarily due to the favorable impact of the increase in net income attributable to non-controlling interests in consolidated entities.
Our effective tax rate decreased to 24.4% for the six months ended June 30, 2024 (six months ended June 30, 2023: 29.1%). The decrease in the effective tax in the second quarter of 2024 was primarily due to the favorable impact of the increase in net income attributable to non-controlling interests in consolidated entities.
Schedule of Non-GAAP Information
We utilize the following non-GAAP performance measures: Net revenues (and by calculation, Net revenue yield on AUM), Adjusted operating income, Adjusted operating margin, Adjusted net income attributable to Invesco and Adjusted diluted EPS. The company believes the adjusted measures provide valuable insight into the company’s ongoing operational performance and assist in comparisons to its competitors. These measures also assist the company’s management with the establishment of operational budgets and forecasts. The most directly comparable U.S. GAAP measures are Operating revenues (and by calculation, Gross revenue yield on AUM), Operating income, Operating margin, Net income attributable to Invesco and diluted EPS. Each of these measures is discussed more fully below.
The following are reconciliations of the U.S. GAAP measures to the non-GAAP measures. The non-GAAP measures should not be considered as substitutes for any U.S. GAAP measures and may not be comparable to other similarly titled measures of other companies. Additional reconciling items may be added in the future to the non-GAAP measures if deemed appropriate. The tax effects related to the reconciling items have been calculated based on the tax rate attributable to the jurisdiction to which the transaction relates. Notes to the reconciliations follow the tables.
Reconciliation of Operating revenues to Net revenues: | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Three months ended June 30, | | Six months ended June 30, | | |
| (in millions) | 2024 | | 2023 | | 2024 | | 2023 | | | | |
| Operating revenues, U.S. GAAP basis | $ | 1,483.3 | | | $ | 1,442.8 | | | $ | 2,958.6 | | | $ | 2,861.0 | | | | | |
| | | | | | | | | | | |
Revenue Adjustments (1) | | | | | | | | | | | |
| Investment management fees | (203.8) | | | (195.4) | | | (396.1) | | | (385.2) | | | | | |
| Service and distribution fees | (253.5) | | | (230.9) | | | (525.3) | | | (456.2) | | | | | |
| Other | (38.1) | | | (36.2) | | | (78.0) | | | (76.2) | | | | | |
| Total Revenue Adjustments | (495.4) | | | (462.5) | | | (999.4) | | | (917.6) | | | | | |
Invesco Great Wall (2) | 86.1 | | | 97.6 | | | 160.8 | | | 198.1 | | | | | |
CIP (3) | 11.8 | | | 12.8 | | | 19.0 | | | 25.1 | | | | | |
| Net revenues | $ | 1,085.8 | | | $ | 1,090.7 | | | $ | 2,139.0 | | | $ | 2,166.6 | | | | | |
Reconciliation of Operating income to Adjusted operating income:
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Three months ended June 30, | | Six months ended June 30, | | |
| (in millions) | 2024 | | 2023 | | 2024 | | 2023 | | | | |
| Operating income, U.S. GAAP basis | $ | 206.8 | | | $ | 203.8 | | | $ | 419.9 | | | $ | 413.3 | | | | | |
Invesco Great Wall (2) | 44.3 | | | 53.6 | | | 82.6 | | | 108.2 | | | | | |
CIP (3) | 15.7 | | | 21.7 | | | 27.9 | | | 36.4 | | | | | |
Transaction, integration and restructuring (4) | — | | | — | | | — | | | 41.6 | | | | | |
Amortization of intangible assets (5) | 11.4 | | | 13.1 | | | 22.7 | | | 27.2 | | | | | |
Compensation expense related to market valuation changes in deferred compensation plans (6) | 7.1 | | | 9.8 | | | 28.7 | | | 22.2 | | | | | |
| | | | | | | | | | | |
General and administrative (7) | 50.0 | | | — | | | 50.0 | | | (20.0) | | | | | |
| Adjusted operating income | $ | 335.3 | | | $ | 302.0 | | | $ | 631.8 | | | $ | 628.9 | | | | | |
| | | | | | | | | | | |
Operating margin(8) | 13.9 | % | | 14.1 | % | | 14.2 | % | | 14.4 | % | | | | |
Adjusted operating margin(9) | 30.9 | % | | 27.7 | % | | 29.5 | % | | 29.0 | % | | | | |
Reconciliation of net income attributable to Invesco to Adjusted net income attributable to Invesco
| | | | | | | | | | | | | | | | | | | | | | | |
| Three months ended June 30, | Six months ended June 30, |
| (in millions, except per common share data) | 2024 | | 2023 | | 2024 | | 2023 |
| Net income attributable to Invesco Ltd., U.S. GAAP basis | $ | 132.2 | | | $ | 132.2 | | | $ | 273.7 | | | $ | 277.2 | |
| | | | | | | |
| Adjustments (excluding tax): | | | | | | | |
Transaction, integration and restructuring (4) | — | | | — | | | — | | | 41.6 | |
Amortization of intangible assets (5) | 11.4 | | | 13.1 | | | 22.7 | | | 27.2 | |
Deferred compensation plan market valuation changes and dividend income less compensation expense (6) | 5.3 | | | (6.1) | | | (6.2) | | | (16.5) | |
General and administrative (7) | 50.0 | | | — | | | 50.0 | | | (20.0) | |
| Total adjustments excluding tax | $ | 66.7 | | | $ | 7.0 | | | $ | 66.5 | | | $ | 32.3 | |
| | | | | | | |
Tax adjustment for amortization of intangible assets and goodwill (10) | $ | 4.4 | | | $ | 3.6 | | | $ | 8.8 | | | $ | 7.8 | |
| Other tax effects of adjustments above | (7.1) | | | 1.6 | | | (4.4) | | | 0.5 | |
Adjusted net income attributable to Invesco Ltd. (11) | $ | 196.2 | | | $ | 144.4 | | | $ | 344.6 | | | $ | 317.8 | |
| | | | | | | |
| Average common shares outstanding - diluted | 456.1 | | | 458.8 | | | 457.5 | | | 458.9 | |
| Diluted EPS | $ | 0.29 | | | $ | 0.29 | | | $ | 0.60 | | | $ | 0.60 | |
Adjusted diluted EPS (12) | $ | 0.43 | | | $ | 0.31 | | | $ | 0.75 | | | $ | 0.69 | |
____________(1) Revenue adjustments: The company calculates Net revenues by reducing Operating revenues to exclude fees that are passed through to external parties who perform functions on behalf of, and distribute, the company’s managed funds. The Net revenue presentation assists in identifying the revenue contribution generated by the company, removing distortions caused by the differing distribution channel fees and allowing for a fair comparison with U.S. peer investment managers and within Invesco’s own investment units. Additionally, management evaluates Net revenue yield on AUM, which is equal to Net revenues divided by Average AUM during the reporting period, as an indicator of the Net revenues we receive for each dollar of AUM we manage.
Investment management fees are adjusted by renewal commissions and certain administrative fees. Service and distribution fees are primarily adjusted by distribution fees passed through to broker dealers for certain share classes and pass through fund-related costs. Other revenues are primarily adjusted by transaction fees passed through to third parties.
(2) Invesco Great Wall: The company reflects 100% of IGW in its Net revenues and Adjusted operating income (and by calculation, Adjusted operating margin). The company’s non-GAAP operating results reflect the economics of these holdings on a basis consistent with the underlying AUM and flows. Adjusted net income is reduced by the amount of earnings attributable to the 51% noncontrolling interests.
(3) CIP: See note 11, “Consolidated Investment Products,” for a detailed analysis of the impact to the company’s Condensed Consolidated Financial Statements from the consolidation of CIP. The company believes that the CIP may impact a reader’s analysis of our underlying results of operations and could result in investor confusion or the production of information about the company by analysts or external credit rating agencies that is not reflective of the underlying results of operations and financial condition of the company. Accordingly, the company believes that it is appropriate to adjust Operating revenues and Operating income for the impact of CIP in calculating the respective Net revenues and Adjusted operating income (and by calculation, Adjusted operating margin).
(4) Transaction, integration and restructuring: The company believes it is useful to adjust for the Transaction, integration and restructuring charges in arriving at Adjusted operating income, Adjusted operating margin, Adjusted net income, and Adjusted diluted EPS, as this will aid comparability of our results period to period, and aid comparability with peer companies that may not have similar acquisition and restructuring related charges. Transaction, integration and restructuring charges were restructuring costs relating to our strategic evaluation which we completed in the first quarter of 2023.
(5) Amortization of intangible assets: The company removes amortization expense related to acquired assets in arriving at Adjusted operating income, Adjusted operating margin, Adjusted net income, and Adjusted diluted EPS, as this will aid comparability of our results period to period, and aid comparability with peer companies that may not have similar acquisition-related charges.
(6) Market movement on deferred compensation plan liabilities: Certain deferred compensation plan awards involve a return to the employee linked to the appreciation (depreciation) of specified investments. The company economically hedges the exposure to market movements for these investments. Since these plans are economically hedged, the company believes it is useful to reflect the offset ultimately achieved from hedging the market exposure in the calculation of Adjusted operating income (and by calculation, Adjusted operating margin) and Adjusted net income (and by calculation, Adjusted diluted EPS) to produce results that will be more comparable period to period.
(7) General and administrative: In the second quarter of 2024, the company recorded a $50.0 million contingent liability related to two regulatory matters. Due to the non-recurring nature of this item, the company removed this expense in arriving at Adjusted operating income, Adjusted operating margin and Adjusted diluted EPS as this will aid comparability of our results period to period. The adjustment in 2023 removed insurance recoveries related to fund-related losses incurred in prior periods.
(8) Operating margin is equal to Operating income divided by Operating revenues.
(9) Adjusted operating margin is equal to Adjusted operating income divided by Net revenues.
(10) Tax adjustment for amortization of intangible assets and goodwill: The company reflects the tax benefit realized on the tax amortization of goodwill and intangible assets in Adjusted net income. The company believes it is useful to include this tax benefit in arriving at the Adjusted diluted EPS measure.
(11) The effective tax rate on Adjusted net income attributable to Invesco Ltd. for the three months and six months ended June 30, 2024 are 22.1% and 23.2% respectively (for the three months and six months ended June 30, 2023, it was 24.7% and 24.4% respectively).
(12) Adjusted diluted EPS is equal to Adjusted net income attributable to Invesco Ltd. divided by the weighted average number of common and restricted common shares outstanding.
Balance Sheet Discussion (1)
The following table represents a reconciliation of the balance sheet information presented on a U.S. GAAP basis to the balance sheet information excluding the impact of CIP and policyholder balances for the reasons outlined in footnote 1 to the table:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| As of June 30, 2024 | | As of December 31, 2023 |
Balance sheet information
(in millions) | U.S. GAAP | | Impact of CIP | | As Adjusted | | U.S. GAAP | | Impact of CIP | | Impact of Policyholders | | As Adjusted |
| ASSETS | | | | | | | | | | | | | |
| Cash and cash equivalents | $ | 878.5 | | | $ | — | | | $ | 878.5 | | | $ | 1,469.2 | | | $ | — | | | $ | — | | | $ | 1,469.2 | |
| | | | | | | | | | | | | |
| Investments | 980.0 | | | 403.5 | | | 1,383.5 | | | 919.1 | | | 527.4 | | | — | | | 1,446.5 | |
| Assets of CIP: | | | | | | | | | | | | | |
| Investments and other assets of CIP | 8,135.7 | | | (8,135.7) | | | — | | | 9,016.0 | | | (9,016.0) | | | — | | | — | |
| Cash and cash equivalents of CIP | 662.8 | | | (662.8) | | | — | | | 462.4 | | | (462.4) | | | — | | | — | |
Assets held for policyholders (2) | — | | | — | | | — | | | 393.9 | | | — | | | (393.9) | | | — | |
| Goodwill and intangible assets, net | 14,424.7 | | | — | | | 14,424.7 | | | 14,539.6 | | | — | | | — | | | 14,539.6 | |
Other assets (3) | 2,085.9 | | | 11.8 | | | 2,097.7 | | | 2,133.6 | | | 18.8 | | | — | | | 2,152.4 | |
| Total assets | $ | 27,167.6 | | | $ | (8,383.2) | | | $ | 18,784.4 | | | $ | 28,933.8 | | | $ | (8,932.2) | | | $ | (393.9) | | | $ | 19,607.7 | |
| LIABILITIES | | | | | | | | | | | | | |
| Liabilities of CIP: | | | | | | | | | | | | | |
| Debt of CIP | $ | 6,671.1 | | | $ | (6,671.1) | | | $ | — | | | $ | 7,121.8 | | | $ | (7,121.8) | | | $ | — | | | $ | — | |
| Other liabilities of CIP | 531.8 | | | (531.8) | | | — | | | 492.1 | | | (492.1) | | | — | | | — | |
Policyholder payables (2) | — | | | — | | | — | | | 393.9 | | | — | | | (393.9) | | | — | |
| | | | | | | | | | | | | |
| Debt | 890.1 | | | — | | | 890.1 | | | 1,489.5 | | | — | | | — | | | 1,489.5 | |
Other liabilities (4) | 3,309.2 | | | — | | | 3,309.2 | | | 3,520.5 | | | — | | | — | | | 3,520.5 | |
| Total liabilities | $ | 11,402.2 | | | $ | (7,202.9) | | | $ | 4,199.3 | | | $ | 13,017.8 | | | $ | (7,613.9) | | | $ | (393.9) | | | $ | 5,010.0 | |
| EQUITY | | | | | | | | | | | | | |
| Total equity attributable to Invesco Ltd. | $ | 14,585.0 | | | $ | 0.1 | | | $ | 14,585.1 | | | $ | 14,597.6 | | | $ | 0.1 | | | $ | — | | | $ | 14,597.7 | |
Noncontrolling interests (5) | 1,180.4 | | | (1,180.4) | | | — | | | 1,318.4 | | | (1,318.4) | | | — | | | — | |
| Total equity | 15,765.4 | | | (1,180.3) | | | 14,585.1 | | | 15,916.0 | | | (1,318.3) | | | — | | | 14,597.7 | |
| Total liabilities and equity | $ | 27,167.6 | | | $ | (8,383.2) | | | $ | 18,784.4 | | | $ | 28,933.8 | | | $ | (8,932.2) | | | $ | (393.9) | | | $ | 19,607.7 | |
____________
(1) This table includes non-GAAP presentations. Assets of CIP are not available for use by Invesco. Additionally, there is no recourse to Invesco for CIP debt. Policyholder assets and liabilities are equal and offsetting and have no impact on Invesco’s shareholders’ equity.
(2) One of our subsidiaries, Invesco Pensions Limited, is an insurance company that was established to facilitate retirement savings plans in the U.K. The entity held assets that were managed for its clients on its balance sheet with an equal and offsetting liability. In January 2024, all funds were distributed to customers.
(3) Amounts include Accounts receivable, Property, equipment and software, and Other assets.
(4) Amounts include Accrued compensation and benefits, Accounts payable and accrued expenses, and Deferred tax liabilities.
(5) Amounts include Redeemable noncontrolling interests in consolidated entities and Equity attributable to nonredeemable noncontrolling interests in consolidated entities.
Cash and cash equivalents
Cash and cash equivalents decreased by $590.7 million from $1,469.2 million at December 31, 2023 to $878.5 million at June 30, 2024. See “Cash Flows Discussion” below within this Management’s Discussion and Analysis for additional discussion regarding the movements in cash flows during the period.
Investments
Investments are comprised primarily of the equity method investment in IGW, seed capital and co-investments in affiliated funds, and investments related to the company’s deferred compensation plans.
As of June 30, 2024, and December 31, 2023 the company had $852.5 million and $956.0 million in seed capital and co-investments, respectively, including direct investments in CIP. Total seed capital and co-investments is presented as a helpful measure for investors and represents our total net investment interest including our investment in CIP. The following table reconciles the investments balance to the total seed capital and co-investment balance.
| | | | | | | | | | | |
| As of |
| (in millions) | June 30, 2024 | | December 31, 2023 |
| Investments | $ | 980.0 | | | $ | 919.1 | |
| Net investment in CIP | 403.5 | | | 527.4 | |
| Less: Investments related to deferred compensation plans, joint ventures, and other investments | (531.0) | | | (490.5) | |
Total seed capital and co-investments (1) | $ | 852.5 | | | $ | 956.0 | |
____________
(1) Included in the total seed capital and co-investments balance as of June 30, 2024 is $212.5 million of seed capital and $640.0 million of co-investments (December 31, 2023: $314.1 million of seed capital and $641.9 million of co-investments).
Goodwill and intangible assets, net
Goodwill and intangible assets, net decreased from $14,539.6 million at December 31, 2023, to $14,424.7 million at June 30, 2024. The decrease includes foreign exchange impacts of $92.2 million and amortization of $22.7 million. If our revenue and operating income continue to be adversely impacted by our AUM mix or unfavorable market conditions, including a significant decline in our stock price for an extended period of time, an impairment of goodwill and intangible assets may occur in future periods.
Liquidity and Capital Resources
Our capital structure, together with available cash balances, cash flows generated from operations, existing capacity under our credit agreement and further capital market activities, if necessary, should provide us with sufficient resources to meet present and future cash needs, including operating expenses, debt and other obligations as they come due and anticipated future capital requirements.
Sources of Liquidity by Type
| | | | | | | | | | | |
| As of |
| (in millions) | June 30, 2024 | | December 31, 2023 |
| Cash and cash equivalents | $ | 878.5 | | | $ | 1,469.2 | |
| Available revolver | 2,000.0 | | | 2,000.0 | |
| Total sources of liquidity by type | $ | 2,878.5 | | | $ | 3,469.2 | |
Capital Management
Our capital management priorities have evolved with the growth and success of our business and include, in no particular order of priority: reinvestment in the business, maintaining a strong balance sheet and returning capital to shareholders longer term through a combination of modestly increasing dividends and share repurchases. We plan to begin executing share buybacks in the third quarter.
Our capital process is executed in a manner consistent with our desire to maintain strong, investment grade credit ratings. As of the date of our filing, Invesco held credit ratings of BBB+/Stable, A3/Stable and A/Stable from Standard & Poor’s (S&P) Ratings Service, Moody’s Investor Services and Fitch Ratings, respectively.
Other Items
Certain of our subsidiaries are required to maintain minimum levels of regulatory capital, liquidity, and working capital. Such requirements may change from time-to-time as additional guidance is released based on a variety of factors, including balance sheet composition, assessment of risk exposures and governance, and review from regulators. These and other similar provisions of applicable laws and regulations may have the effect of limiting withdrawals of capital, repayment of intercompany loans and payment of dividends by such entities. Our financial condition or liquidity could be adversely affected if certain of our subsidiaries are unable to distribute funds to us.
We are in compliance with all regulatory minimum net capital requirements. As of June 30, 2024, the company’s minimum regulatory capital requirement was $391.4 million (December 31, 2023: $395.8 million).
We meet the regulatory liquidity and working capital requirements by holding cash and cash equivalents in the European sub-group. This retained cash can be used for general business purposes in the European sub-group in the countries where it is located. Due to the liquidity and working capital requirements, the ability to transfer cash between certain jurisdictions may be limited. In addition, transfers of cash between international jurisdictions may have adverse tax consequences.
The consolidation of $8,798.5 million of assets and $6,671.1 million of debt of CIP as of June 30, 2024, respectively, did not impact the company’s liquidity and capital resources. See Part I, Item 1, Financial Statements - Note 11, “Consolidated Investment Products,” for additional details.
Cash Flows Discussion
The following table represents a reconciliation of the cash flow information presented on a U.S. GAAP basis to the cash flows information excluding the impact of the cash flows of CIP for the reasons outlined in footnote 1 to the table:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash flows information (1) | Six months ended June 30, 2024 | | Six months ended June 30, 2023 |
| (in millions) | U.S. GAAP | | Impact of CIP | | As Adjusted | | U.S. GAAP | | Impact of CIP | | As Adjusted |
| Cash and cash equivalents, beginning of the period | $ | 1,931.6 | | | $ | (462.4) | | | $ | 1,469.2 | | | $ | 1,434.1 | | | $ | (199.4) | | | $ | 1,234.7 | |
| Cash flows from operating activities | 434.7 | | | (112.3) | | | 322.4 | | | 232.4 | | | 124.7 | | | 357.1 | |
| Cash flows from investing activities | 57.4 | | | (26.3) | | | 31.1 | | | (49.2) | | | (75.7) | | | (124.9) | |
| Cash flows from financing activities | (860.0) | | | (64.9) | | | (924.9) | | | (349.6) | | | (125.6) | | | (475.2) | |
| Increase/(decrease) in cash and cash equivalents | (367.9) | | | (203.5) | | | (571.4) | | | (166.4) | | | (76.6) | | | (243.0) | |
| Foreign exchange movement on cash and cash equivalents | (22.4) | | | 3.1 | | | (19.3) | | | 19.4 | | | (1.2) | | | 18.2 | |
| Cash and cash equivalents, end of the period | $ | 1,541.3 | | | $ | (662.8) | | | $ | 878.5 | | | $ | 1,287.1 | | | $ | (277.2) | | | $ | 1,009.9 | |
| | | | | | | | | | | |
| Cash and cash equivalents | $ | 878.5 | | | $ | — | | | $ | 878.5 | | | $ | 1,009.9 | | | $ | — | | | $ | 1,009.9 | |
| | | | | | | | | | | |
| Cash and cash equivalents of CIP | 662.8 | | | (662.8) | | | — | | | 277.2 | | | (277.2) | | | — | |
| Total cash and cash equivalents per condensed consolidated statement of cash flows | $ | 1,541.3 | | | $ | (662.8) | | | $ | 878.5 | | | $ | 1,287.1 | | | $ | (277.2) | | | $ | 1,009.9 | |
____________(1) These tables include non-GAAP presentations. Cash held by CIP is not available for use by Invesco. Additionally, there is no recourse to Invesco for CIP debt. The cash flows of CIP do not form part of the company’s cash flow management processes, nor do they form part of the company’s significant liquidity evaluations and decisions.
Operating Activities
Operating cash flows include the receipt of Investment management and other fees generated from AUM, offset by Operating expenses and Changes in operating assets and liabilities. After allowing for the change in cash held by CIP, investment activities, non-cash activity, and seasonal payments such as bonus payments in the first quarter, our operating cash flows generally move in the same direction as our Operating income.
Cash inflows for the six months ended June 30, 2024, excluding the impact of the consolidation of CIP, was partially offset by net outflows from changes in payables and receivables due to timing of payments and receipts.
Investing Activities
Cash inflows for the six months ended June 30, 2024, excluding the impact of the consolidation of CIP, included proceeds of $124.7 million from Capital distributions from equity method investees (six months ended June 30, 2023: $12.7 million), partially offset by Purchase of investments of $46.0 million (six months ended June 30, 2023: $87.9 million purchases). In addition, the company had capital expenditures of $47.7 million for the six months ended June 30, 2024 (six months ended June 30, 2023: $84.8 million). Our capital expenditures related principally to investments in foundational technology projects.
Financing Activities
Financing cash outflows during the six months ended June 30, 2024, excluding the impact of the consolidation of CIP, included $183.4 million of common dividend payments for the dividends declared in January and April (six months ended June 30, 2023: common dividends paid of $177.6 million), $118.4 million of preferred dividend payments for dividends declared in January and April (six months ended June 30, 2023: $118.4 million) and the payment of $23.1 million to meet employees’ withholding tax obligations on common share vestings (six months ended June 30, 2023: $29.2 million). The six months ended June 30, 2024 also included a $600.0 million redemption of our senior notes (six months ended June 30, 2023: none). Financing cash outflows for the six months ended June 30, 2023 also included purchases of common shares through the open market of $150.0 million.
Dividends
When declared, Invesco pays dividends on a quarterly basis in arrears. Holders of our preferred shares are eligible to receive dividends at an annual rate of 5.9% of the liquidation preference of $1,000 per share, or $59 per share per annum. The preferred stock dividend is payable quarterly on a non-cumulative basis when, if and as declared by our Board of Directors. However, if we have not declared and paid or set aside for payment full quarterly dividends on the preferred stock for a particular dividend period, we may not declare or pay dividends on, redeem, purchase or acquire, our common stock or other junior securities in the next succeeding dividend period. In addition, if we have not declared and paid or set aside for payment quarterly dividends on the preferred stock for six quarterly periods, whether or not consecutive, the number of directors of the company will be increased by two and the holders of the preferred shares shall have the right to elect such two additional members of the Board of Directors.
On July 22, 2024, the company declared a second quarter 2024 cash dividend of $0.205 per common share to the holders of common shares. The dividend is payable on September 4, 2024, to common shareholders of record at the close of business on August 16, 2024, with an ex-dividend date of August 16, 2024.
On July 22, 2024, the company declared a preferred dividend of $14.75 per preferred share, representing the period from June 1, 2024 through August 31, 2024. The preferred dividend is payable on September 3, 2024.
The declaration, payment and amount of any future dividends will depend upon, among other factors, our earnings, financial condition and capital requirements at the time such declaration and payment are considered. The company has a policy of managing dividends in a prudent fashion, with due consideration given to profit levels, overall debt levels and historical dividend payouts.
Debt
The carrying value of our debt at June 30, 2024 was $890.1 million (December 31, 2023: $1,489.5 million). See Part I, Item 1, Financial Statements - Note 4, “Debt,” for additional disclosures.
For the six months ended June 30, 2024, the company’s weighted average cost of debt was 4.79% (six months ended June 30, 2023: 4.28%).
Financial covenants under the credit agreement include: (i) the quarterly maintenance of an Adjusted debt/Earnings before income tax, depreciation, amortization, interest expense, common share-based compensation expense, unrealized (gains)/losses from investments, net, and unusual or otherwise non-recurring gains and losses (Covenant Adjusted EBITDA) leverage ratio, as defined in the credit agreement, of not greater than 3.25:1.00, (ii) an interest coverage ratio (Covenant Adjusted EBITDA/interest expense for the four consecutive fiscal quarters ended before the date of determination) of not less than 4.00:1.00. As of June 30, 2024, we were in compliance with our financial covenants. At June 30, 2024, our leverage ratio was 0.28:1.00 (December 31, 2023: 0.69:1.00), and our interest coverage ratio was 22.10:1.00 (December 31, 2023: 20.40:1.00).
The June 30, 2024 coverage ratio calculations are as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (in millions) | Total | | Q2 2024 | | Q1 2024 | | Q4 2023 | | Q3 2023 |
| Net income/(loss) attributable to Invesco Ltd. | $ | (337.2) | | | $ | 132.2 | | | $ | 141.5 | | | $ | (742.3) | | | $ | 131.4 | |
| Dividends on preferred shares | 236.8 | | | 59.2 | | | 59.2 | | | 59.2 | | | 59.2 | |
| | | | | | | | | |
| Tax expense/(benefit) | (72.4) | | | 64.0 | | | 68.7 | | | (266.4) | | | 61.3 | |
| Amortization/depreciation/impairment | 1,429.0 | | | 46.4 | | | 45.1 | | | 1,295.3 | | | 42.2 | |
| Interest expense | 66.3 | | | 16.3 | | | 15.9 | | | 16.8 | | | 17.3 | |
| Common share-based compensation expense | 84.3 | | | 18.4 | | | 21.1 | | | 20.8 | | | 24.0 | |
Unrealized (gains)/losses from investments, net (1) | 8.5 | | | 5.1 | | | (10.4) | | | (4.5) | | | 18.3 | |
Regulatory matters (2) | 50.0 | | | 50.0 | | | — | | | — | | | — | |
| | | | | | | | | |
| | | | | | | | | |
Covenant Adjusted EBITDA (3) | $ | 1,465.3 | | | $ | 391.6 | | | $ | 341.1 | | | $ | 378.9 | | | $ | 353.7 | |
Adjusted debt (3) | $ | 406.4 | | | | | | | | | |
| | | | | | | | | |
Leverage ratio as of June 30, 2024 (Adjusted debt/Covenant Adjusted EBITDA - maximum 3.25:1.00) | 0.28 | | | | | | | | | |
Interest coverage ratio as of June 30, 2024 (Covenant Adjusted EBITDA/Interest expense - minimum 4.00:1.00) | 22.10 | | | | | | | | | |
(1) Adjustments for unrealized gains and losses from investments, as defined in our credit agreement, may also include non-cash gains and losses on investments to the extent that they do not represent anticipated future cash receipts or expenditures.
(2) Unusual or otherwise non-recurring gains and losses, as defined in our credit agreement, are adjusted for in the determination of Covenant Adjusted EBITDA. The contingent liability related to two regulatory matters is a non-recurring loss and has been removed from the determination of Covenant Adjusted EBITDA.
(3) Covenant Adjusted EBITDA and Adjusted debt are non-GAAP financial measures that are used by management in connection with certain debt covenant calculations under our credit agreement. The calculation of Covenant Adjusted EBITDA above (a reconciliation from Net income attributable to Invesco Ltd.) is defined by our credit agreement, and therefore Net income attributable to Invesco Ltd. is the most appropriate GAAP measure from which to reconcile to Covenant Adjusted EBITDA. The calculation of Adjusted debt is defined in our credit agreement and equals debt of $890.1 million plus $3.3 million in letters of credit less $487.0 million of excess unrestricted cash (cash and cash equivalents less the minimum regulatory capital requirement, not to exceed $500 million).
Credit and Liquidity Risk
The company manages its capital by reviewing annual and projected cash flow forecasts and by monitoring credit, liquidity and market risks, such as interest rate and foreign currency risks (as discussed in Part I, Item 3, Quantitative and Qualitative Disclosures About Market Risk), through measurement and analysis.
Credit Risk
Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to meet an obligation. The company is primarily exposed to credit risk through its cash and cash equivalent deposits, which are held by external firms. The company invests its cash balances in its own institutional money market products, as well as with external high credit-quality financial institutions. These arrangements create exposure to concentrations of credit risk. As of June 30, 2024, our maximum exposure to credit risk related to our cash and cash equivalent balances is $878.5 million, of which $430.8 million is invested in affiliated money market funds. See Part I, Item 1, Financial Statements - Note 2, "Fair Value of Assets and Liabilities," for information regarding cash and cash equivalents invested in affiliated money market funds.
Liquidity Risk
Liquidity risk is the risk that the company will encounter difficulty in meeting obligations associated with its financial liabilities as they become due. The company is exposed to liquidity risk through its $890.1 million in total debt. The company actively manages liquidity risk by preparing cash flow forecasts for future periods, reviewing them regularly with senior management, maintaining a committed credit agreement, scheduling significant gaps between major debt maturities and engaging external financing sources in regular dialogue.
Effects of Inflation
Inflation can impact our organization primarily in two ways. First, inflationary pressures can result in increases in our cost structure, especially to the extent that large expense components such as compensation are impacted. To the degree that these expense increases are not recoverable or cannot be counterbalanced through pricing increases due to the competitive environment, our profitability could be negatively impacted. Secondly, the value of the assets that we manage may be negatively impacted when inflationary expectations result in a rising interest rate environment. A decline in the values of AUM could lead to reduced revenues as management fees are generally calculated based upon the size of AUM.
Common Share Repurchase Plan
The company did not purchase shares in the open market during the six months ended June 30, 2024 (three months and six months ended June 30, 2023: 9.6 million common shares for $150.0 million). At June 30, 2024, approximately $382.2 million remains available under the share repurchase authorizations approved by the Board on July 22, 2016.
Off Balance Sheet Commitments
See Part I, Item 1, Financial Statements - Note 10, “Commitments and Contingencies - Legal Contingencies,” for more information regarding undrawn capital commitments.
Critical Accounting Policies and Estimates
There have been no changes to the critical accounting policies disclosed in our most recent Form 10-K for the year ended December 31, 2023. Critical accounting policies are those that require management’s most difficult, subjective or complex judgments and would therefore be deemed the most critical to an understanding of our results of operations and financial condition.
Recent Accounting Standards
See Part I, Item 1, Financial Statements - Note 1, "Accounting Policies - Accounting Pronouncements Recently Adopted.”
Item 3. Quantitative and Qualitative Disclosures About Market Risk
In the normal course of its business, the company is primarily exposed to market risk in the form of AUM market price risk, securities market risk, interest rate risk and foreign exchange rate risk. There have not been any material changes to the company’s exposures to market risks during the period ended June 30, 2024 that would require an update to the disclosures provided in the most recent Form 10-K.
AUM Market Price Risk
The company’s investment management revenues are comprised of fees based on the value of AUM. Declines in the market prices of equity and fixed income securities, commodities and derivatives, or other similar financial instruments held in client portfolios could cause revenues to decline because of lower investment management fees by:
•Causing the value of AUM to decrease.
•Causing the returns realized on AUM to decrease (impacting performance fees).
•Causing clients to withdraw funds in favor of investments in markets that they perceive to offer greater opportunity and that the company does not serve.
•Causing clients to rebalance assets away from investments that the company manages into investments that the company does not manage.
•Causing clients to reallocate assets away from products that earn higher revenues into products that earn lower revenues.
Underperformance of client accounts relative to competing products could exacerbate these factors.
Assuming the revenue yield on AUM for the year remains unchanged, a decline in the average AUM for the year would result in a corresponding decline in revenue. Certain expenses, including distribution and compensation expenses, may not vary in proportion with the changes in the market value of AUM. As such, the impact on operating margin or net income of a decline in the market values of AUM may be greater or less than the percentage decline in the market value of AUM.
Securities Market Risk
The company has investments in managed investment products that invest in a variety of asset classes. Investments are generally made to establish a track record for a new fund or investment vehicle or to hedge economically exposure to certain deferred compensation plans. The company’s exposure to market risk from financial instruments measured at fair value arises from its investments.
Interest Rate Risk
Interest rate risk relates to the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The company is exposed to interest rate risk primarily through its external debt and cash and cash equivalent investments. See Part I, Item 1, Financial Statements - Note 4, “Debt,” for details of the company’s debt arrangements. As of June 30, 2024, the interest rates on 100.0% of the company’s borrowings were fixed for a weighted average period of 9.41 years, and the company had a zero balance on its floating rate credit agreement.
Foreign Exchange Rate Risk
The net assets and financial results of the company’s foreign operations are exposed to foreign currency translation risk when translated into U.S. Dollars upon consolidation into Invesco.
The company is also exposed to foreign translation risk on monetary assets and liabilities that are held by subsidiaries in different functional currencies than the subsidiaries’ functional currencies. Net foreign exchange revaluation gains were $3.5 million during the six months ended June 30, 2024 (six months ended June 30, 2023: $1.2 million gains) and are included in General and administrative expenses and Other gains/ (losses), net on the Condensed Consolidated Statements of Income.
Item 4. Controls and Procedures
Our management is responsible for establishing and maintaining disclosure controls and procedures that are designed to ensure that information the company is required to disclose in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include controls and procedures designed to ensure that information required to be disclosed in the reports that the company files or submits under the Exchange Act is accumulated and communicated to the company’s management, including its principal executive and principal financial officers, as appropriate, to allow timely decisions regarding required disclosure.
We have evaluated, with the participation of our chief executive officer and chief financial officer, the effectiveness of our disclosure controls and procedures as of June 30, 2024. There are inherent limitations to the effectiveness of any system of disclosure controls and procedures, including the possibility of human error and the circumvention or overriding of the controls and procedures. Accordingly, even effective disclosure controls and procedures can only provide reasonable assurance of achieving their control objectives. Based upon our evaluation, our chief executive officer and chief financial officer concluded that our disclosure controls and procedures were effective to provide reasonable assurance that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the applicable rules and forms, and that it is accumulated and communicated to our management, including our chief executive officer and chief financial officer, as appropriate to allow timely decisions regarding required disclosure.
We have evaluated any change in our internal control over financial reporting that occurred during the six months ended June 30, 2024 and have concluded that there was no change that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
PART II. OTHER INFORMATION
Item 1. Legal Proceedings
See Part I, Item 1, Financial Statements - Note 10, “Commitments and Contingencies - Legal Contingencies,” for information regarding legal proceedings.
Item 1A. Risk Factors
The company has had no significant changes in its risk factors from those previously disclosed in its Annual Report on Form 10-K for the year ended December 31, 2023.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Repurchases of Equity Securities
The following table sets forth information regarding purchases of our common shares by us and any affiliated purchases during the three months ended June 30, 2024:
| | | | | | | | | | | | | | | | | | | | | | | |
| Month | Total Number of Shares Purchased (1) | | Average Price Paid Per Share | | Total Number of Shares
Purchased as Part of
Publicly Announced Plans or Programs (2) | | Maximum Number at end of period (or Approximate
Dollar Value) of Shares
that May Yet Be Purchased
Under the Plans
or Programs (2) (millions) |
| April 1-30, 2024 | 135,060 | | | $ | 15.27 | | | — | | | $ | 382.2 | |
| May 1-31, 2024 | 34,318 | | | $ | 16.30 | | | — | | | $ | 382.2 | |
| June 1-30, 2024 | 18,332 | | | $ | 15.10 | | | — | | | $ | 382.2 | |
| Total | 187,710 | | | | | — | | | |
____________
(1) An aggregate of 187,710 shares were surrendered to us by Invesco employees to satisfy tax withholding obligations in connection with the vesting of equity awards.
(2) At June 30, 2024, a balance of $382.2 million remains available under the share repurchase authorization approved by the Board on July 22, 2016.
Item 5. Other Information
None.
Item 6. Exhibits
Exhibit Index
| | | | | |
| 3.1 | |
| 3.2 | |
| 3.3 | |
| 10.1 | |
| 22 | |
| 31.1 | |
| 31.2 | |
| 32.1 | |
| 32.2 | |
| 101 | The following financial statements from the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, formatted in Inline Extensible Business Reporting Language (iXBRL): (i) Condensed Consolidated Balance Sheets, (ii) Condensed Consolidated Statements of Income, (iii) Condensed Consolidated Statements of Comprehensive Income, (iv) Condensed Consolidated Statements of Cash Flows, (v) Condensed Consolidated Statements of Changes in Equity, and (vi) Notes to Condensed Consolidated Financial Statements, tagged as blocks of text and including detailed tags. |
| 104 | The cover page from the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, formatted in Inline XBRL |
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
| | | | | |
| INVESCO LTD. |
| July 31, 2024 | /s/ ANDREW R. SCHLOSSBERG |
| Andrew R. Schlossberg |
| President and Chief Executive Officer |
| |
| July 31, 2024 | /s/ L. ALLISON DUKES |
| L. Allison Dukes |
| Senior Managing Director and Chief Financial Officer |
Invesco Ltd. 2016 Global Equity Incentive Plan
(as amended and restated effective July 1, 2024)
1. Purpose
The purpose of the Invesco Ltd. 2016 Global Equity Incentive Plan (the “Plan”) is to give Invesco Ltd., a company organized under the laws of Bermuda (the “Company”), a competitive advantage in attracting, retaining and motivating officers, employees, directors and/or consultants and to provide the Company and its Affiliates with a long-term incentive plan providing incentives directly linked to Shareholder value.
2. Effective Date and Term of Plan
The Plan was initially adopted by the Board on February 11, 2016, and was amended effective May 9, 2019, and amended and restated on June 15, 2021. This amendment and restatement was adopted by the Board on February 28, 2024 and, pending shareholder approval, is effective as of July 1, 2024 (the “Effective Date”). Awards may be granted under the Plan until the date that is ten years after the Effective Date, unless the Plan is discontinued earlier pursuant to Section 14.
3. Types of Awards
Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units and Other Stock-Based Awards may be granted under the Plan.
4. Definitions
Except as otherwise specifically provided in an Award Agreement, each capitalized word, term or phrase used in the Plan shall have the meaning set forth in this Section 4 or, if not defined in this Section, the first place that it appears in the Plan.
“Affiliate” means a corporation or other entity controlled by, controlling or under common control with, the Company; provided, however, that solely for purposes of determining whether a Participant has a Termination of Service that is a “separation from service” within the meaning of Section 409A of the Code, an “Affiliate” of a corporation or other entity means all other entities with which such corporation or other entity would be considered a single employer under Sections 414(b) or 414(c) of the Code.
“Applicable Exchange” means the New York Stock Exchange or such other securities exchange as may at the applicable time be the principal market for the Shares.
“Award” means an Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit or Other Stock-Based Award granted pursuant to the terms of the Plan.
“Award Agreement” means a written document or agreement setting forth the terms and conditions of a specific Award and any addendum thereto.
“Beneficiary” means the person(s) or trust(s) entitled by will or the laws of descent and distribution to receive any amounts payable or exercise any applicable rights under the Participant’s Awards after the Participant’s death.
“Board” means the Board of Directors of the Company.
“Cause” means, with respect to a Participant, (i) if such Participant is a party to an Individual Agreement at the time of the Termination of Service that defines such term (or word(s) of similar meaning), the meaning given in such Individual Agreement or (ii) if there is no such Individual Agreement or if it does not define Cause (or word(s) of similar meaning): (A) the Participant’s plea of guilty or nolo contendere to, or conviction of (1) a felony (or its equivalent in a non-United States jurisdiction) or (2) other conduct of a criminal nature that has or is likely to have an adverse effect on the reputation or standing in the community of the Company or any of its Affiliates, as determined by the Committee in its sole discretion, or that legally prohibits the Participant from working for the Company or any of its Affiliates; (B) a breach by the Participant of a regulatory rule that adversely affects the Participant’s ability to perform the Participant’s employment duties to the Company or any of its Affiliates in any material respect; (C) the Participant’s failure, in each case in any material respect, to (1) perform the Participant’s employment duties, (2) comply with the applicable policies, codes of conducts or employee manuals of the Company or any of its Affiliates, (3) follow reasonable directions received from the Company or any of its Affiliates or (4) comply with covenants contained in any Individual Agreement or Award Agreement to which the Participant is a party; or (D) with respect to Participants employed outside of the United States, such other definition as may be codified under local laws, rules and regulations. With respect to a Participant’s termination of directorship, “Cause” shall include only an act or failure to act that constitutes cause for removal of a director under the Company’s Bye-Laws.
“Change in Control” means any of the following events:
(i) the acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of twenty-five percent (25%) or more of either (A) the then outstanding shares of the Company (the “Outstanding Company Shares”) or (B) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that for purposes of this subsection (i), the following acquisitions shall not constitute a Change in Control: (1) any acquisition directly from the Company; (2) any acquisition by the Company; (3) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company; or (4) any acquisition pursuant to a transaction which complies with clauses (A), (B) and (C) of subsection (iii) below; or
(ii) during any period of twelve (12) consecutive months, individuals who, as of January 1, 2024 constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to January 1, 2024 whose election, or nomination for election by the Company’s Shareholders, was approved by a vote of at least two-thirds (2/3) of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose
initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or
(iii) consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company or the acquisition of assets of another entity (each, a “Corporate Transaction”), in each case, unless, following such Corporate Transaction, (A) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Shares and Outstanding Company Voting Securities immediately prior to such Corporate Transaction beneficially own, directly or indirectly, more than fifty percent (50%) of, respectively, the then outstanding shares and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation or other entity resulting from such Corporate Transaction (including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Corporate Transaction of the Outstanding Company Shares and Outstanding Company Voting Securities, as the case may be, (B) no Person (excluding any employee benefit plan or related trust of the Company or of such corporation resulting from such Corporate Transaction) beneficially owns, directly or indirectly, twenty-five percent (25%) or more of, respectively, the then outstanding shares of the corporation resulting from such Corporate Transaction or the combined voting power of the then outstanding voting securities of such corporation except to the extent that such ownership existed prior to the Corporate Transaction and (C) at least a majority of the members of the board of directors of the corporation (or other governing board of a non-corporate entity) resulting from such Corporate Transaction were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Corporate Transaction; or
(iv) approval by the Shareholders of the Company of a complete liquidation or dissolution of the Company.
Notwithstanding the foregoing, an event described above shall be a Change in Control with respect to an Award that constitutes a “nonqualified deferred compensation plan” within the meaning of Section 409A of the Code only if such event is also a change in the ownership or effective control of the Company or a change in the ownership of a substantial portion of the assets of the Company within the meaning of Section 409A of the Code to the extent necessary to avoid the imposition of any tax or interest or the inclusion of any amount in income thereunder.
“Code” means the Internal Revenue Code of 1986, as amended from time to time, and any successor thereto, the Treasury Regulations thereunder and other relevant interpretive guidance issued by the Internal Revenue Service or the Treasury Department. Reference to any specific section of the Code shall be deemed to include such regulations and guidance, as well as any successor section, regulations and guidance.
“Committee” means the Compensation Committee of the Board or such other committee or subcommittee of the Board as may be appointed by the Board to act as the Committee under the Plan. If at any time there is no such Compensation Committee or other committee or subcommittee appointed by the Board, the Board shall be the Committee. The
Committee shall consist of two or more directors, each of whom is intended to be, to the extent required by Rule 16b-3 of the Exchange Act, a “non-employee director” as defined in Rule 16b-3 of the Exchange Act. Any member of the Committee who does not meet the foregoing requirements shall abstain from any decision regarding an Award and shall not be considered a member of the Committee to the extent required to comply with Rule 16b-3 of the Exchange Act.
“Disability” means, with respect to a Participant, (i) a “disability” (or words of similar meaning) as defined in any Individual Agreement to which the Participant is a party at the relevant time or (ii) if there is no such Individual Agreement or it does not define “disability” (or words of similar meaning): (A) a permanent and total disability as determined under the long-term disability plan applicable to the Participant; (B) if there is no such plan applicable to the Participant, “Disability” as determined by the Committee in its sole discretion; or (C) with respect to Participants employed outside the United States, such other definition as may be codified under local laws, rules and regulations. The Committee may require such medical or other evidence as it deems necessary to judge the nature and permanency of the Participant’s condition. Notwithstanding the foregoing, with respect to an Incentive Stock Option, “Disability” shall mean a “Permanent and Total Disability” as defined in Section 22(e)(3) of the Code and, with respect to any Award that constitutes a “nonqualified deferred compensation plan” within the meaning of Section 409A of the Code, “Disability” shall mean a “disability” as defined under Section 409A of the Code to the extent necessary to avoid the imposition of any tax or interest or the inclusion of any amount in income thereunder.
“Disaffiliation” means an Affiliate’s or business division’s ceasing to be an Affiliate or business division for any reason (including, without limitation, as a result of a public offering, or a spinoff or sale by the Company, of the stock of the Affiliate or a sale of a business division of the Company).
“Eligible Individuals” means non-employee directors, officers, employees and consultants of the Company or any of its Affiliates, and prospective officers, employees and consultants who have accepted offers of employment or consultancy from the Company or any of its Affiliates.
“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, and any successor thereto. Reference to any specific section of the Exchange Act shall be deemed to include such regulations and guidance issued thereunder, as well as any successor section, regulations and guidance.
“Fair Market Value” means, unless otherwise determined by the Committee, the closing price of a Share on the Applicable Exchange on the date of measurement or, if Shares are not traded on the Applicable Exchange on such measurement date, then on the next preceding date on which Shares are traded, all as reported by such source as the Committee may select. If the Shares are not listed on a national securities exchange, Fair Market Value shall be determined by the Committee in its good faith discretion.
“Good Reason” means, with respect to a Participant, (i) if such Participant is a party to an Individual Agreement at the time of the Termination of Service that defines such term (or word(s) of similar meaning), the meaning given in such Individual Agreement or (ii) if there is no such Individual Agreement or if it does not define Good Reason (or word(s) of similar meaning), during the 24-month period following a Change in Control, actions taken by the Company or any
of its Affiliates resulting in a material negative change in the employment relationship of the Participant who is an officer or an employee including, without limitation:
(i) the assignment to the Participant of duties materially inconsistent with the Participant’s position (including status, titles and reporting requirements), authority, duties or responsibilities, or a material diminution in such position, authority, duties or responsibilities, in each case from those in effect immediately prior to the Change in Control;
(ii) a material reduction of the Participant’s aggregate annual compensation, including, without limitation, base salary and annual bonus opportunity, from that in effect immediately prior to the Change in Control;
(iii) a change in the Participant’s principal place of employment that increases the Participant’s commute by 40 or more miles or materially increases the time of the Participant’s commute as compared to the Participant’s commute immediately prior to the Change in Control but excluding, for the avoidance of doubt, a change that requires a Participant to forego one or more days of remote work and perform such work in person at a Company office; or
(iv) any other action or inaction that constitutes a material breach by the Company or an Affiliate of any Individual Agreement.
In order to invoke a Termination of Service for Good Reason, a Participant must provide written notice to the Company or Affiliate with respect to which the Participant is employed or providing services of the existence of one or more of the conditions constituting Good Reason within ninety (90) days following the Participant’s knowledge of the initial existence of such condition or conditions, specifying in reasonable detail the conditions constituting Good Reason, and the Company shall have thirty (30) days following receipt of such written notice (the “Cure Period”) during which it may remedy the condition. In the event that the Company or Affiliate fails to remedy the condition constituting Good Reason during the applicable Cure Period, the Participant’s Termination of Service must occur, if at all, within ninety (90) days following such Cure Period in order for such termination as a result of such condition to constitute a Termination of Service for Good Reason.
“Grant Date” means (i) the date on which the Committee by resolution selects an Eligible Individual to receive a grant of an Award, establishes the number of Shares to be subject to such Award and, in the case of an Option or Stock Appreciation Right, establishes the exercise price of such Award or (ii) such later date as the Committee shall provide in such resolution.
“Incentive Stock Option” means any Option that is designated in the applicable Award Agreement as an “incentive stock option” within the meaning of Section 422 of the Code and otherwise meets the requirements to be an “incentive stock option” set forth in Section 422 of the Code. Each Option granted pursuant to the Plan will be treated as a Nonqualified Option unless, as of the Grant Date, it is expressly designated as an Incentive Stock Option in the applicable Award Agreement.
“Individual Agreement” means a written employment, consulting or similar agreement between a Participant and the Company or one of its Affiliates.
“ISO Eligible Employees” means an employee of the Company, any subsidiary corporation (within the meaning of Section 424(f) of the Code) or parent corporation (within the meaning of Section 424(e) of the Code).
“Nonqualified Option” means any Option that is not an Incentive Stock Option.
“Option” means an Incentive Stock Option or Nonqualified Option granted under Section 8.
“Other Stock-Based Award” means an Award of Shares or any other Award that is valued in whole or in part by reference to, or is otherwise based upon, Shares, including (without limitation) unrestricted stock, dividend equivalents and convertible debentures, granted under Section 11.
“Participant” means an Eligible Individual to whom an Award is or has been granted and who has accepted the terms and conditions of the Plan as set forth in Section 5(f) hereof.
“Performance Goals” means specified goals, other than the mere continuation of employment or the mere passage of time, the satisfaction of which is a condition for the grant, exercisability, vesting or full enjoyment of an Award. A Performance Goal and any targets with respect thereto need not be based upon an increase, a positive or improved result or avoidance of loss and may be applied, without limitation, to a Participant individually, or to a business unit or division of the Company or an Affiliate or to the Company as a whole. A Performance Goal may also be based on individual performance and/or subjective performance goals (or any combination of any of the goals described in this definition). The Committee may provide that one or more of the Performance Goals or financial measures applicable to an Award may be adjusted in a manner that the Committee determines equitable and appropriate for extraordinary, unusual, infrequently occurring or non-recurring items (for example, but without limitation, acquisitions, dispositions, material financial market movements, changes in tax laws or accounting principles, or accruals for reorganization or restructuring programs) occurring during the Performance Period that affect the applicable Performance Goal(s).
“Performance Period” means that period established by the Committee during which any Performance Goals specified by the Committee with respect to such Award are to be measured.
“Restricted Stock” means an Award granted under Section 9.
“Restricted Stock Unit” means an Award granted under Section 10.
“Restriction Period” means, with respect to Restricted Stock and Restricted Stock Units, the period commencing on the date of such Award to which vesting restrictions apply and ending upon the expiration of the applicable vesting conditions and/or the achievement of the applicable Performance Goals (it being understood that the Committee may provide that restrictions shall lapse with respect to portions of the applicable Award during the Restriction Period).
“Retirement” means, subject to and in accordance with such rules as may be prescribed by the Committee, retirement from active employment with the Company (other than
at a time when Cause exists or as a result of a termination for Cause) at or after satisfying an age and/or years of service requirement established by the Committee.
“Share” or “Shares” means common shares, par value $0.20 each, of the Company or such other equity securities that may become subject to an Award.
“Shareholder” has the same meaning as the term “Member” in the Companies Act 1981 of Bermuda.
“Stock Appreciation Right” means an Award granted under Section 8(b).
“Term” means the maximum period during which an Option, Stock Appreciation Right or, if applicable, Other Stock-Based Award may remain outstanding as specified in the applicable Award Agreement.
“Termination of Service” means the termination of the Participant’s employment or consultancy with, or performance of services for, the Company and any of its Affiliates or, in the case of a director, when a director no longer holds office as a director of the Company. For Participants employed outside the United States, the date on which such Participant incurs a Termination of Service shall be the earlier of (i) the last day of the Participant’s active service with the Company and its Affiliates or (ii) the last day on which the Participant is considered an employee of the Company and its Affiliates, as determined in each case without including any required advance notice period and irrespective of the status of the termination under local labor or employment laws. Temporary absences from employment because of illness, vacation or approved leave of absence and transfers among the Company and its Affiliates shall not be considered Terminations of Service. With respect to any Award that constitutes a “nonqualified deferred compensation plan” within the meaning of Section 409A of the Code, “Termination of Service” shall mean a “separation from service” as defined under Section 409A of the Code to the extent required by Section 409A of the Code to avoid the imposition of any tax or interest or the inclusion of any amount in income thereunder. A Participant has a separation from service within the meaning of Section 409A of the Code if the Participant terminates employment with the Company and all Affiliates for any reason. A Participant will generally be treated as having terminated employment with the Company and all Affiliates as of a certain date if the Participant and the Company or Affiliate that employs the Participant reasonably anticipate that the Participant will perform no further services for the Company or any Affiliate after such date or that the level of bona fide services that the Participant will perform after such date (whether as an employee or an independent contractor) will permanently decrease to no more than 20 percent of the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding 36-month period (or the full period of services if the Participant has been providing services for fewer than 36 months); provided, however, that the employment relationship is treated as continuing while the Participant is on military leave, sick leave or other bona fide leave of absence if the period of leave does not exceed six months or, if longer, so long as the Participant retains the right to reemployment with the Company or any Affiliate.
5. Administration
(a) Committee. The Plan shall be administered by the Committee. The Committee shall, subject to Section 13, have plenary authority to grant Awards pursuant to the terms of the
Plan to Eligible Individuals. Among other things, the Committee in its sole discretion shall have the authority, subject to the terms and conditions of the Plan:
(i) to select the Eligible Individuals to whom Awards may from time to time be granted;
(ii) to determine whether and to what extent Awards are to be granted hereunder;
(iii) to determine the number of Shares to be covered by each Award granted hereunder;
(iv) to determine the terms and conditions of each Award granted hereunder, including but not limited to the form of settlement of Awards, based on such factors as the Committee shall determine, and to approve the form of Award Agreement and any related addendum;
(v) to adopt sub-plans and special provisions applicable to Awards granted to Participants employed outside of the United States, which sub-plans and special provisions may take precedence over other provisions of the Plan, and to approve the form of Award Agreement and any related addendum as may be applicable to such Awards;
(vi) subject to Sections 6(e), 8(e), 13 and 14, to modify, amend or adjust the terms and conditions of any Award, including adjustments to Performance Goals or financial measures applicable to an Award that may be adjusted in a manner that the Committee determines equitable and appropriate for extraordinary, unusual, infrequently occurring or non-recurring items (for example, but without limitation, acquisitions, dispositions, material financial market movements, changes in tax laws or accounting principles, or accruals for reorganization or restructuring programs) occurring during the Performance Period that affect the applicable Performance Goal(s).
(vii) to adopt, alter and repeal such administrative rules, guidelines and practices governing the Plan as it shall from time to time deem advisable;
(viii) to interpret the terms and provisions of the Plan and any Award issued under the Plan (and any Award Agreement relating thereto);
(ix) subject to Section 13, to accelerate the vesting or lapse of restrictions of any outstanding Award, based in each case on such considerations as the Committee determines;
(x) to decide all other matters to be determined in connection with an Award;
(xi) to determine whether, to what extent and under what circumstances cash, Shares and other property and other amounts payable with respect to an Award under the Plan shall be deferred either automatically or at the election of the Participant;
(xii) to establish any “blackout” period that the Committee deems necessary or advisable; and
(xiii) to otherwise administer the Plan.
(b) Delegation of Authority. To the extent permitted under applicable law and Section 13, the Committee may delegate any of its authority to administer the Plan to any person or persons selected by the Committee, including one or more members of the Committee, and such person or persons shall be deemed to be the Committee with respect to, and to the extent of, its or their authority.
(c) Procedures.
(i) The Committee may act by a majority of its members and, except to the extent prohibited by applicable law or the listing standards of the Applicable Exchange and subject to Section 13, through any person or persons to whom it has delegated its authority pursuant to Section 5(b).
(ii) Any authority granted to the Committee may also be exercised by the independent directors of the full Board. To the extent that any permitted action taken by the Board conflicts with action taken by the Committee, the Board action shall control.
(d) Discretion of Committee and Binding Effect. Any determination made by the Committee or an appropriately delegated person or persons with respect to the Plan or any Award shall be made in the sole discretion of the Committee or such delegate, including, without limitation, any determination involving the appropriateness or equitableness of any action, unless in contravention of any express term of the Plan. All decisions made by the Committee or any appropriately delegated person or persons shall be final and binding on all persons, including the Company, Participants and Eligible Individuals. Notwithstanding the foregoing, following a Change in Control, any determination by the Committee as to whether “Cause” or “Good Reason” exists shall be subject to de novo review.
(e) Cancellation or Suspension. Notwithstanding any other terms of the Plan (other than Section 8(e)), an Award Agreement or an Award, the Committee or an appropriately delegated person or persons, in its or their sole discretion, shall have full power and authority to determine whether, to what extent and under what circumstances any Award or any portion thereof shall be cancelled or suspended and may cancel or suspend any Award or any portion thereof. Without in any way limiting the generality of the preceding sentence, the following are examples, without limitation, of when all or any portion of an outstanding Award to any Participant may be canceled or suspended: (1) in the sole discretion of the Committee or any appropriately delegated person or persons, a Participant materially breaches (A) any duties of Participant’s employment (whether express or implied), including without limitation Participant’s duties of fidelity, good faith and exclusive service, (B) any general terms and conditions of Participant’s employment such as an employee handbook or guidelines, (C) any policies and procedures of the Company or any of its Affiliates applicable to the Participant, or (D) any other agreement regarding Participant’s employment with the Company or any of its Affiliates, or (2) without the prior written explicit consent of the Committee or any appropriately delegated person or persons (which consent may be granted or denied in the sole discretion of the Committee or such person or persons), a Participant, while employed by, or providing services to, the Company or any of its Affiliates, becomes associated with, employed by, renders services to, or owns any interest in (other than any nonsubstantial interest, as determined by the Committee or any appropriately delegated person or persons in its or their sole discretion), any business that
is in competition with the Company or any of its Affiliates or with any business in which the Company or any of its Affiliates has a substantial interest, as determined by the Committee or any appropriately delegated person or persons in its or their sole discretion, or (3) as a result of the application to an Award of any compensation recovery or recoupment policy or policies adopted by the Company, including but not limited to the Invesco Ltd. Policy for Recoupment of Incentive Compensation.
(f) Award Agreements. The terms and conditions of each Award, as determined by the Committee, shall be set forth in a written (including electronic) Award Agreement, which shall be delivered to the Participant receiving such Award upon, or as promptly as is reasonably practicable following, the grant of such Award. Except (i) as otherwise specified by the Committee, in its sole discretion, (ii) as otherwise provided in the Award Agreement, or (iii) in the case of non-executive directors who may not be required to sign or accept an Award, an Award shall not be effective unless the Award Agreement is signed or otherwise accepted by the Participant receiving the Award (including by electronic signature or acceptance). The Committee, in its sole discretion, may deliver any documents related to an Award or Award Agreement by electronic means. Award Agreements may be amended only in accordance with Section 14.
6. Shares Subject to Plan
(a) Plan Maximums. Subject to adjustment as described in Section 6(e), the maximum number of Shares that may be issued pursuant to Awards under the Plan shall be 21,170,000.
(b) Individual and Award Limits. Subject to adjustment as described in Section 6(e),
(i) no Participant (including any non-executive director) shall be granted Awards covering more than 2,000,000 Shares during any calendar year;
(ii) the maximum number of Shares that may be issued pursuant to Options intended to be Incentive Stock Options shall be 6,000,000 Shares; and
(c) Source of Shares. Shares subject to Awards under the Plan may be authorized but unissued Shares, Shares held by the Company as treasury shares or, if required by local law, Shares delivered from a trust established pursuant to applicable law.
(d) Rules for Calculating Shares Issued; No “Share Recycling” for Options or Stock Appreciation Rights. Shares that are subject to Awards granted under the Plan shall be deemed not to have been issued for purposes of the Plan maximums set forth in Section 6(a) and 6(b)(ii) to the extent that:
(i) the Award is forfeited or canceled, or the Award terminates, expires or lapses for any reason without Shares having been delivered;
(ii) the Award is settled in cash; or
(iii) the Shares are withheld by the Company to satisfy all or part of any tax withholding obligation related to an Award of Restricted Stock or an Award of a Restricted Stock Unit.
Shares that are tendered or withheld by the Company in payment of the exercise price of Options or Stock Appreciation Rights or to satisfy all or part of any tax withholding obligation related to such an Option or Stock Appreciation Right shall be counted as Shares that were issued. For the avoidance of doubt, Shares subject to an Option or a Stock Appreciation Right issued under the Plan that are not issued in connection with the stock settlement of that Option or Stock Appreciation Right upon its exercise shall not again become available for Awards or increase the number of Shares available for grant.
(e) Adjustment Provision.
(i) In the event of a merger, consolidation, stock rights offering, liquidation, or similar event affecting the Company or any of its Affiliates (each, a “Corporate Event”) or a stock dividend, stock split, reverse stock split, separation, spinoff, Disaffiliation, reorganization, extraordinary dividend of cash or other property, share combination, or recapitalization or similar event affecting the capital structure of the Company (each, a “Share Change”), the Committee or the Board shall make such equitable and appropriate substitutions or adjustments to (A) the aggregate number and kind of Shares or other securities reserved for issuance and delivery under the Plan, (B) the various maximum limitations set forth in Sections 6(a) and 6(b) upon certain types of Awards and upon the grants to individuals of certain types of Awards, (C) the number and kind of Shares or other securities subject to outstanding Awards and (D) the exercise price of outstanding Awards.
(ii) In the case of Corporate Events, such adjustments may include, without limitation, (A) the cancellation of outstanding Awards in exchange for payments of cash, securities or other property or a combination thereof having an aggregate value equal to the value of such Awards, as determined by the Committee or the Board in its sole discretion (it being understood that in the case of a Corporate Event with respect to which Shareholders receive consideration other than publicly traded equity securities of the ultimate surviving entity, any such determination by the Committee that the value of an Option or Stock Appreciation Right shall for this purpose be deemed to equal the excess, if any, of the value of the consideration being paid for each Share pursuant to such Corporate Event over the exercise price of such Option or Stock Appreciation Right shall conclusively be deemed valid), and (B) the substitution of securities or other property (including, without limitation, cash or other securities of the Company and securities of entities other than the Company) for the Shares subject to outstanding Awards.
(iii) In connection with any Disaffiliation, separation, spinoff, or other similar event, the Committee or the Board may arrange for the assumption of Awards, or replacement of Awards with new awards based on securities or other property (including, without limitation, other securities of the Company and securities of entities other than the Company), by the affected Affiliate or business division or by the entity that controls such Affiliate or business division following such event (as well as any corresponding adjustments to Awards that remain based upon Company securities). Such replacement with new awards may include revision of award terms reflective of circumstances associated with the Disaffiliation, separation, spinoff or other similar event.
(iv) The Committee may, in its discretion, adjust the Performance Goals applicable to any Awards to reflect any unusual or non-recurring events and other extraordinary items, impact of charges for restructurings, discontinued operations and the cumulative effects
of accounting or tax changes, each as defined by generally accepted accounting principles or as identified in the Company’s financial statements, notes to the financial statements, management’s discussion and analysis or other Company filings with the Securities and Exchange Commission. If the Committee determines that a change in the business, operations, corporate structure or capital structure of the Company or the applicable Affiliate, business division or other operational unit of, or the manner in which any of the foregoing conducts its business, or other events or circumstances render the Performance Goals to be unsuitable, the Committee may modify such Performance Goals or the related minimum acceptable level of achievement, in whole or in part, as the Committee deems appropriate and equitable.
(f) Section 409A. Notwithstanding the foregoing: (i) any adjustments made pursuant to Section 6(e) to Awards that are considered “deferred compensation” within the meaning of Section 409A of the Code shall be made in compliance with the requirements of Section 409A of the Code; (ii) any adjustments made pursuant to Section 6(e) to Awards that are not considered “deferred compensation” subject to Section 409A of the Code shall be made in such a manner as to ensure that after such adjustment, the Awards either (A) continue not to be subject to Section 409A of the Code or (B) comply with the requirements of Section 409A of the Code; and (iii) in any event, neither the Committee nor the Board shall have the authority to make any adjustments pursuant to Section 6(e) to the extent the existence of such authority would cause an Award that is not intended to be subject to Section 409A of the Code at the Grant Date to be subject thereto.
7. Eligibility and Participation
Awards may be granted under the Plan to Eligible Individuals; provided, however, that Incentive Stock Options may be granted only to ISO Eligible Employees.
8. Options and Stock Appreciation Rights
(a) Options. An Option is a right to purchase a specified number of Shares at a specified price that continues for a stated period of time. Options granted under the Plan may be Incentive Stock Options or Nonqualified Options. The Award Agreement for an Option shall indicate whether the Option is intended to be an Incentive Stock Option or a Nonqualified Option.
(b) Stock Appreciation Rights. A Stock Appreciation Right is a right to receive upon exercise of the Stock Appreciation Right an amount in cash, Shares or both, in value equal to the product of (i) the excess of the Fair Market Value of one Share over the exercise price per Share subject to the applicable Stock Appreciation Right, multiplied by (ii) the number of Shares in respect of which the Stock Appreciation Right has been exercised. The applicable Award Agreement shall specify whether such payment is to be made in cash or Shares or both or shall reserve to the Committee or the Participant the right to make that determination prior to or upon the exercise of the Stock Appreciation Right.
(c) Award Agreement. Each grant of an Option and Stock Appreciation Right shall be evidenced by an Award Agreement that shall specify the Grant Date, the exercise price, the term, vesting schedule, and such other provisions as the Committee shall determine.
(d) Exercise Price; Not Less Than Fair Market Value. The exercise price per Share subject to an Option or Stock Appreciation Right shall be determined by the Committee and set
forth in the applicable Award Agreement, and shall not be less than the Fair Market Value of a Share on the Grant Date, except as provided under Section 6(e) or with respect to Options or Stock Appreciation Rights that are granted in substitution of similar types of awards of a company acquired by the Company or an Affiliate or with which the Company or an Affiliate combines (whether in connection with a corporate transaction, such as a merger, combination, consolidation or acquisition of property or stock, or otherwise) to preserve the intrinsic value of such awards.
(e) Prohibition on Repricing; No Cash Buyouts. Except as provided in Section 6(e) relating to adjustments due to certain corporate events, the exercise price of outstanding Options or Stock Appreciation Rights may not be amended to reduce the exercise price of such Options or Stock Appreciation Rights, nor may outstanding Options or Stock Appreciation Rights be canceled in exchange for (i) cash, (ii) Options or Stock Appreciation Rights with an exercise price that is less than the exercise price of the original outstanding Options or Stock Appreciation Rights or (iii) other Awards, unless in each case such action is approved by the Company’s Shareholders.
(f) Prohibition on Reloads. Options or Stock Appreciation Rights shall not be granted under the Plan that contain a reload or replenishment feature pursuant to which a new Option or Stock Appreciation Right would be granted upon receipt or delivery of Shares to the Company in payment of the exercise price or any tax withholding obligation under any other stock option, stock appreciation right or other Award.
(g) Term. The term of an Option or Stock Appreciation Right granted under the Plan shall be determined by the Committee, in its sole discretion; provided, however, that such term shall not exceed 10 years.
(h) Accelerated Expiration Date. Unless the Committee specifies otherwise in the applicable Award Agreement, an Option or Stock Appreciation Right granted under the Plan will expire upon the earliest to occur of the following:
(i) The original expiration date of the Option or Stock Appreciation Right;
(ii) Death. The one-year anniversary of the Participant’s death;
(iii) Disability. The one-year anniversary of the Participant’s termination of employment with the Company and all Related Companies due to Disability;
(iv) Termination of Employment. The date of the Participant’s termination of employment with the Company and all Related Companies for any reason other than death or Disability; provided, however, that if the Participant is terminated by the Company other than for Cause or unsatisfactory performance, then 60 days following the Participant’s termination of employment.
(i) Vesting.
(i)Generally. Options and Stock Appreciation Rights shall have a vesting period of not less than one year from the date of grant except with respect to the death, Disability, or involuntary termination (other than for Cause or unsatisfactory performance) of a Participant, the occurrence of a Change in Control as outlined in Section 12 of this Plan, or as
may be required or otherwise be deemed advisable by the Committee, whether in connection with an Award granted through the assumption of, or substitution for, outstanding awards previously granted by a company acquired by the Company or any Affiliate or with which the Company or any Affiliate combines or otherwise. The Committee shall, prior to or at the time of grant, condition the grant or vesting of an Award of Options or Stock Appreciation Rights upon such terms as outlined in the Award Agreement, which may include terms regarding Retirement.
(j) Method of Exercise and Payment.
(i) Generally. Subject to the provisions of this Section 8 and the terms of the applicable Award Agreement, Options and Stock Appreciation Rights may be exercised, in whole or in part, by giving written (including electronic) notice of exercise specifying the number of Shares as to which such Options or Stock Appreciation Rights are being exercised and paying, or making arrangements satisfactory to the Company for the payment of, all applicable taxes pursuant to Section 16(d).
(ii) In the case of the exercise of an Option, such notice shall be accompanied by payment in full of the exercise price by (A) certified or bank check (B) delivery of unrestricted Shares of the same class as the Shares subject to the Option already owned by the Participant (based on the Fair Market Value of the Shares on the date the Option is exercised), provided that the Shares have been held by the Participant for such period as may established by the Committee to comply with applicable law or (C) such other method as the Committee shall permit in its sole discretion (including a broker-assisted cashless exercise or netting of Shares).
(k) No Shareholder Rights. A Participant shall have no right to dividends or any other rights as a Shareholder with respect to Shares subject to an Option or Stock Appreciation Right until such Shares are issued to the Participant pursuant to the terms of the Award Agreement.
9. Restricted Stock
(a) Nature of Awards and Certificates. Shares of Restricted Stock are actual Shares that are issued to a Participant subject to forfeiture under certain circumstances and shall be evidenced in such manner as the Committee may deem appropriate, including book-entry registration.
(b) Award Agreement. Each grant of Restricted Stock shall be evidenced by an Award Agreement that shall specify the Grant Date, the period of restriction, the number of shares of Restricted Stock, vesting schedule, and such other provisions as the Committee shall determine. The Committee may, prior to or at the time of grant, condition the grant or vesting of an Award of Restricted Stock upon (i) the continued service of the Participant, (Bii) the attainment of Performance Goals or (iii) the attainment of Performance Goals and the continued service of the Participant. The conditions for grant or vesting and the other provisions of Restricted Stock Awards (including, without limitation, any applicable Performance Goals) need not be the same with respect to each Participant.
(c) Vesting.
(i) Generally. Shares of Restricted Stock shall have a vesting period of not less than one year from the date of grant except with respect to the death, Disability, or
involuntary termination (other than for Cause or unsatisfactory performance) of a Participant, the occurrence of a Change in Control as outlined in Section 12 of this Plan, or as may be required or otherwise be deemed advisable by the Committee, whether in connection with an Award granted through the assumption of, or substitution for, outstanding awards previously granted by a company acquired by the Company or any Affiliate or with which the Company or any Affiliate combines or otherwise. The Committee shall, prior to or at the time of grant, condition the grant or vesting of an Award of Restricted Stock upon such terms as outlined in the Award Agreement, which may include terms regarding Retirement.
For purposes of an Award to a non-executive director that is granted as of the date of the annual general meeting of the shareholders, a vesting period shall be deemed to be one year if it runs from the date of one annual general meeting of shareholders to the next annual general meeting of shareholders provided that such next meetings are at least 50 weeks apart.
(ii) Accelerated Vesting. Unless the Committee specifies otherwise in the applicable Award Agreement in the event of the death, Disability or involuntary termination (other than for Cause or unsatisfactory performance) of a Participant, a Change in Control as outlined in Section 12 of this Plan, or special circumstances determined by the Committee, an Award of Restricted Stock shall vest as of the termination of employment.
(d) Restricted Shares Non-Transferrable. Subject to the provisions of the Plan and the applicable Award Agreement, during the Restriction Period, the Participant shall not be permitted to sell, assign, transfer, pledge or otherwise encumber Shares of Restricted Stock.
(e) Rights of a Shareholder. Except as otherwise provided in this Section 9 or in the applicable Award Agreement, the Participant shall have, with respect to the Shares of Restricted Stock, all of the rights of a Shareholder of the Company holding the class or series of Shares that is the subject of the Restricted Stock, including, if applicable, voting and dividend rights.
(f) Dividends. Except as otherwise provided in the applicable Award Agreement, cash dividends with respect to the Restricted Stock will be currently paid to the Participant and, subject to Section 16(e) of the Plan, dividends payable in Shares shall be paid in the form of Restricted Stock of the same class as the Shares with which such dividend was paid, held subject to the vesting of the underlying Restricted Stock; provided, however, that no dividends shall be paid with respect to Restricted Stock that is subject to one more Performance Goals unless and until the Committee has certified that the applicable Performance Goals for such award have been met. Dividends shall accrue at the same rate as cash dividends paid on the Shares and applied to the number of Shares that vest. Such dividend equivalents shall be paid to the Participant in cash at the time the Shares are delivered. If any Shares of Restricted Stock are forfeited, the Participant shall have no right to future cash dividends with respect to such Restricted Stock, withheld stock dividends or earnings with respect to such Shares of Restricted Stock.
(g) Delivery of Shares. If and when any applicable Performance Goals are satisfied and/or the Restriction Period expires without a prior forfeiture of the Shares of Restricted Stock, unrestricted Shares shall be delivered to the Participant as soon as administratively practicable.
(h) Termination of Service. Except as otherwise provided in the applicable Award Agreement or as provided in subsection (c)(ii) above, a Participant’s Shares of Restricted Stock shall be forfeited upon his or her Termination of Service.
10. Restricted Stock Units
(a) Nature of Awards. Restricted Stock Units represent a contractual obligation by the Company to deliver a number of Shares, an amount in cash or a combination of Shares and cash equal to the specified number of Shares subject to the Award, or the Fair Market Value thereof, in accordance with the terms and conditions set forth in the Plan and any applicable Award Agreement.
(b) Award Agreement. Each grant of Restricted Stock Units shall be evidenced by an Award Agreement that shall specify the Grant Date, the period of restriction, the number of Restricted Stock Units, vesting schedule, and such other provisions as the Committee shall determine. The Committee may, prior to or at the time of grant, condition the grant or vesting of an Award of Restricted Stock Units upon (i) the continued service of the Participant, (ii) the attainment of Performance Goals or (iii) the attainment of Performance Goals and the continued service of the Participant. The conditions for grant or vesting and the other provisions of Restricted Stock Units (including, without limitation, any applicable Performance Goals) need not be the same with respect to each Participant.
(c) Vesting.
(i) Generally. Restricted Stock Units shall have a vesting period of not less than one year from the date of grant except with respect to the death, Disability, involuntary termination (other than for Cause or unsatisfactory performance) of a Participant, the occurrence of a Change in Control as outlined in Section 12 of this Plan, or as may be required or otherwise be deemed advisable by the Committee, whether in connection with an Award granted through the assumption of, or substitution for, outstanding awards previously granted by a company acquired by the Company or any Affiliate or with which the Company or any Affiliate combines or otherwise. The Committee shall, prior to or at the time of grant, condition the grant or vesting of an Award of Restricted Stock Units upon such terms as outlined in the Award Agreement, which may include terms regarding Retirement.
For purposes of an Award to a non-executive director that is granted as of the date of the annual general meeting of the shareholders, a vesting period shall be deemed to be one year if it runs from the date of one annual general meeting of shareholders to the next annual general meeting of shareholders provided that such next meetings are at least 50 weeks apart.
(ii) Accelerated Vesting. Unless the Committee specifies otherwise in the applicable Award Agreement, in the event of the death, Disability or involuntary termination (other than for Cause or unsatisfactory performance) of a Participant, a Change in Control as outlined in Section 12 of this Plan, or special circumstances determined by the Committee, an Award of Restricted Stock Units shall vest as of the termination of employment.
(d) Dividend Equivalents. The Committee may, in its discretion, provide for current or deferred payments of cash, Shares or other property corresponding to the dividends payable on the Shares (subject to Section 16(e) below), as set forth in an applicable Award Agreement;
provided, however, that no such dividend equivalents shall be paid with respect to Restricted Stock Units that are subject to one or more Performance Goals unless and until the Committee has certified that the applicable Performance Goals for such award have been met. Dividend equivalents shall accrue at the same rate as cash dividends paid on the Shares and applied to the number of Shares that vest. Such dividend equivalents shall be paid to the Participant in cash at the time the Shares are delivered. If a Participant’s Restricted Stock Units are forfeited, the Participant shall have no right to future dividend equivalents with respect to such Restricted Stock Units, withheld stock dividends or earnings with respect to such Restricted Stock Units.
(e) Termination of Service. Except as otherwise provided in the applicable Award Agreement or as provided in subsection (c)(ii) above, a Participant’s Restricted Stock Units shall be forfeited upon his or her Termination of Service.
(f) Payment. Except as otherwise provided in the applicable Award Agreement, Shares, cash or a combination of Shares and cash, as applicable, payable in settlement of Restricted Stock Units shall be delivered to the Participant as soon as administratively practicable after the date on which payment is due under the terms of an Award Agreement.
(g) No Shareholder Rights. Except as otherwise provided in the applicable Award Agreement, a Participant shall have no rights as a Shareholder with respect to Shares subject to Restricted Stock Units until such Shares are issued to the Participant pursuant to the terms of the Award Agreement.
11. Other Stock-Based Awards
Other Stock-Based Awards may be granted under the Plan; provided, that any Other Stock-Based Awards that are Awards of Shares that are unrestricted or with a minimum vesting schedule of less than one year shall only be granted in lieu of other compensation due and payable to the Participant. Notwithstanding the foregoing, no more than 5% of the Shares authorized to grant under Section 6 may be granted with a minimum vesting schedule of less than one year.
12. Change in Control Provisions
The provisions of this Section 12 shall apply in the case of a Change in Control, unless otherwise provided in the applicable Award Agreement or any other provision of the Plan.
(a) Awards Not Assumed, Etc. in Connection with Change in Control. Upon the occurrence of a transaction that constitutes a Change in Control, if any Awards are not assumed, converted or otherwise equitably converted or substituted in a manner approved by the Committee, then such Awards shall vest immediately at 100 percent before the Change in Control.
(b) Awards Assumed, Etc. in Connection with Change in Control. Upon the occurrence of a transaction that constitutes a Change in Control, with respect to any Awards that are assumed, converted or otherwise equitably converted or substituted in a manner approved by the Committee, then, in the event of a Participant’s Termination of Service during the twenty-four (24) month period following such Change in Control, (x) by the Company other than for Cause or unsatisfactory performance, or (y) by the Participant for Good Reason:
(i) each outstanding Award shall be deemed to satisfy any applicable Performance Goals at 100 percent as set forth in the applicable Award Agreement;
(ii) any Options and Stock Appreciation Rights outstanding which are not then exercisable and vested shall become fully exercisable and vested. Any such Option or Stock Appreciation Right held by the Participant as of the date of the Change in Control that remain outstanding as of the date of such Termination of Service may thereafter be exercised until the earlier of the third anniversary of such Change in Control and the last date on which such Option or Stock Appreciation Right would have been exercisable in the absence of this Section 12(b)(ii) (taking into account the applicable terms of any Award Agreement);
(iii) the restrictions and deferral limitations applicable to any Shares of Restricted Stock shall lapse and such Shares of Restricted Stock shall become free of all restrictions and become fully vested and transferable;
(iv) all Restricted Stock Units shall be considered to be earned and payable in full, and any deferral or other restriction shall lapse, and any Restriction Period shall terminate, and such Restricted Stock Units shall be settled in cash or Shares (consistent with the terms of the Award Agreement after taking into account the effect of the Change in Control transaction on the Shares) as promptly as is practicable; and
(v) subject to Section 14, the Committee may also make additional adjustments and/or settlements of outstanding Awards as it deems appropriate and consistent with the Plan’s purposes.
(c) 409A Matters. Notwithstanding the foregoing, if any Award to a Participant who is subject to U.S. income tax is considered a “nonqualified deferred compensation plan” within the meaning of Section 409A of the Code, this Section 12 shall apply to such Award only to the extent that its application would not result in the imposition of any tax or interest or the inclusion of any amount in income under Section 409A of the Code.
(d) Other. In the event of a Change in Control, the Committee may in its discretion and upon at least ten (10) days’ advance notice to the affected Participants, cancel any outstanding Awards and pay to the holders thereof, in cash or Shares, or any combination thereof, the value of such Awards based upon the price per Share received or to be received by other Shareholders of the Company as a result of the Change in Control.
13. Section 16(b); Section 409A
(a) Section 16(b). The provisions of the Plan are intended to ensure that transactions under the Plan are not subject to (or are exempt from) the short-swing recovery rules of Section 16(b) of the Exchange Act and shall be construed and interpreted in a manner so as to comply with such rules.
Notwithstanding any other provision of the Plan to the contrary, if for any reason the appointed Committee does not meet the requirements of Rule 16b-3 of the Exchange Act, such noncompliance with the requirements of Rule 16b-3 of the Exchange Act shall not affect the validity of Awards, grants, interpretations or other actions of the Committee.
(b) Section 409A. It is the intention of the Company that any Award to a Participant who is subject to U.S. income tax that constitutes a “nonqualified deferred compensation plan” within the meaning of Section 409A of the Code shall comply in all respects with the requirements of Section 409A of the Code to avoid the imposition of any tax or interest or the inclusion of any amount in income thereunder, and the terms of each such Award shall be interpreted, administered and deemed amended, if applicable, in a manner consistent with this intention. Notwithstanding the foregoing, neither the Company nor any of its Affiliates nor any of its or their directors, officers, employees, agents or other service providers will be liable for any taxes, penalties or interest imposed on any Participant, Beneficiary or other person with respect to any amounts paid or payable (whether in cash, Shares or other property) under any Award, including any taxes, penalties or interest imposed under or as a result of Section 409A of the Code. Notwithstanding any other provision of the Plan to the contrary, with respect to any Award to any Participant who is subject to U.S. income tax that constitutes a “nonqualified deferred compensation plan” within the meaning of Section 409A of the Code:
(i) any payments (whether in cash, Shares or other property) to be made with respect to the Award upon the Participant’s Termination of Service that would otherwise be paid within six months after the Participant’s Termination of Service shall be accumulated (without interest, to the extent applicable) and paid on the first day of the seventh month following the Participant’s Termination of Service if the Participant is a “specified employee” within the meaning of Section 409A of the Code (as determined in accordance with the uniform policy adopted by the Committee with respect to all of the arrangements subject to Section 409A of the Code maintained by the Company and its Affiliates);
(ii) each payment made under the Plan shall be treated as a separate payment and the right to a series of installment payments under the Plan is to be treated as a right to a series of separate payments; and
(iii) unless otherwise determined by Committee, any payment to be made with respect to an Award of Restricted Stock Units shall be delivered no later than 60 days after the date on which payment is due under the Award or as otherwise permitted under Treasury Regulations section 1.409A-3(g) for any portion of the payment subject to a dispute.
14. Amendment and Discontinuance
(a) Amendment and Discontinuance of the Plan. The Board or the Committee may amend, alter or discontinue the Plan, but no amendment, alteration or discontinuation shall be made which would materially impair the rights of a Participant with respect to a previously granted Award without such Participant’s consent, except such an amendment made to comply with applicable law or Applicable Exchange rule or to prevent adverse tax or accounting consequences to the Company or Participants.
(b) Amendment of Awards. Subject to Section 8(e), the Committee may unilaterally amend the terms of any Award theretofore granted, but no such amendment shall materially impair the rights of any Participant with respect to an Award without the Participant’s consent, except such an amendment made to cause the Plan or Award to comply with applicable law, Applicable Exchange rule or to prevent adverse tax or accounting consequences for the Participant or the Company or any of its Affiliates.
15. Unfunded Status of Plan
It is currently intended that the Plan constitute an “unfunded” plan. The Committee may authorize the creation of trusts or other arrangements to meet the obligations created under the Plan to deliver Shares or make payments; provided, however, that unless the Committee otherwise determines, the existence of such trusts or other arrangements is consistent with the “unfunded” status of the Plan.
16. General Provisions
(a) Conditions for Issuance. The Committee may require each person purchasing or receiving Shares pursuant to an Award to represent to and agree with the Company in writing that such person is acquiring the Shares without a view to the distribution thereof. The certificates or book entry for such Shares may include any legend or appropriate notation that the Committee deems appropriate to reflect any restrictions on transfer, and the Committee may take such other steps as it deems necessary or desirable to restrict the transfer of Shares issuable under the Plan to comply with applicable law or Applicable Exchange rules. Notwithstanding any other provision of the Plan or agreements made pursuant thereto, the Company shall not be required to issue or deliver Shares under the Plan unless such issuance or delivery complies with all applicable laws, rules and regulations, including the requirements of any Applicable Exchange or similar entity and the Company has obtained any consent, approval or permit from any federal, state or foreign governmental authority that the Committee determines to be necessary or advisable.
(b) Additional Compensation Arrangements. Nothing contained in the Plan shall prevent the Company or any Affiliate from adopting other or additional compensation arrangements for its employees.
(c) No Contract of Employment. Neither the Plan nor any Award Agreement shall constitute a contract of employment, and neither the adoption of the Plan nor the granting of any Award shall confer upon any employee any right to continued employment. Neither the Plan nor any Award Agreement shall interfere in any way with the right of the Company or any Affiliate to terminate the employment of any employee at any time.
(d) Required Taxes; No Tax Gross Ups. No later than the date as of which an amount first becomes includible in the gross income of a Participant for federal, state, local or foreign income or employment or other tax purposes with respect to any Award under the Plan, such Participant shall pay to the Company, or make arrangements satisfactory to the Company regarding the payment of, any federal, state, local or foreign taxes of any kind required by law to be withheld with respect to such amount. Unless otherwise determined by the Company, withholding obligations may be settled with Shares, including Shares that are part of the Award that gives rise to the withholding requirement, having a Fair Market Value on the date of withholding equal to the rate required to be withheld for tax purposes under applicable law, all in accordance with such procedures as the Committee establishes. The obligations of the Company under the Plan shall be conditional on such payment or arrangements, and the Company and its Affiliates shall, to the extent permitted by law, have the right to deduct any such taxes from any payment otherwise due to such Participant. The Committee may establish such procedures as it deems appropriate, including making irrevocable elections, for the
settlement of withholding obligations with Shares. Regardless of any arrangements made by the Company, any Affiliate or the Committee with respect to the withholding or other payment of any federal, state, local or foreign taxes of any kind, the liability for all such taxes legally due from a Participant remains the responsibility of the Participant. By accepting an Award, a Participant consents to the methods of tax withholding established by the Committee or otherwise made or arranged by the Company.
(e) Limitation on Dividend Reinvestment and Dividend Equivalents. Reinvestment of dividends in additional Restricted Stock at the time of any dividend payment, and the payment of Shares with respect to dividend equivalents to Participants holding Awards of Restricted Stock Units, shall only be permissible if sufficient Shares are available under Section 6 for such reinvestment or payment (taking into account then outstanding Awards). In the event that sufficient Shares are not available for such reinvestment or payment, then in the Committee’s discretion such payment shall be settled in cash.
(f) Rights of a Beneficiary. Any amounts payable and any rights exercisable under an Award after a Participant’s death shall be paid to and exercised by the Participant’s Beneficiary, except to the extent prohibited by applicable law, Applicable Exchange rule or the terms of an applicable Award Agreement.
(g) Affiliate Employees. In the case of a forfeiture or cancellation of an Award to an employee of any Affiliate, all Shares underlying such Awards shall revert to the Company.
(h) Governing Law and Interpretation. The Plan and all Awards made and actions taken thereunder shall be governed by and construed in accordance with the laws of the State of Georgia, without reference to principles of conflict of laws. The captions of the Plan are not part of the provisions hereof and shall have no force or effect.
(i) Non-Transferability. Awards under the Plan cannot be sold, assigned, transferred, pledged or otherwise encumbered other than by will or the laws of descent and distribution, except as provided in Section 6(e).
(j) Foreign Employees and Foreign Law Considerations. The Committee may grant Awards to Eligible Individuals who are foreign nationals, who are employed outside the United States or who are not compensated from a payroll maintained in the United States, or who are otherwise subject to (or could cause the Company to be subject to) tax, legal or regulatory provisions of countries or jurisdictions outside the United States, on such terms and conditions different from those specified in the Plan as may, in the judgment of the Committee, be necessary or desirable to foster and promote achievement of the purposes of the Plan. Notwithstanding any other provision of the Plan, Awards to Participants who are employed and/or otherwise subject to the laws of a jurisdiction outside of the United States shall be subject to such terms and conditions as the Committee shall establish and set forth in an applicable Award Agreement, including any addendum thereto and the Committee may adopt such procedures, subplans and forms of Award Agreement as it determines to be necessary or appropriate to facilitate Plan administration with respect to Participants performing services in such jurisdictions.
(k) Use of English Language. The Plan, each Award Agreement, and all other documents, notices and legal proceedings entered into, given or instituted pursuant to an Award
shall be written in English, unless otherwise determined by the Committee. If a Participant receives an Award Agreement, a copy of the Plan or any other documents related to an Award translated into a language other than English, and if the meaning of the translated version is different from the English version, the English version shall control.
(l) Recovery of Amounts Paid. All Awards granted under the Plan, and any proceeds received therefrom, shall be subject to forfeiture and/or repayment to the Company under the terms of each compensation recovery or recoupment policy adopted by the Company, including but not limited to the Invesco Ltd. Policy for Recoupment of Incentive Compensation. The Committee may apply each such policy to Awards granted before such policy is adopted to the extent required by applicable law or Applicable Exchange rule or as otherwise provided by such policy.
(m) Notices. A notice or other communication to the Committee shall be valid only if given in the form and to the location specified by the Committee.
Adopted by the Board on February 28, 2024 and approved by Shareholders on May 23, 2024
Certification Pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002
I, Andrew R. Schlossberg, certify that:
1. I have reviewed this Quarterly Report on Form 10-Q of Invesco Ltd.;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
| | | | | | | | |
| July 31, 2024 | | /s/ ANDREW R. SCHLOSSBERG |
| | | Andrew R. Schlossberg |
| | | President and Chief Executive Officer |
Certification Pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002
I, L. Allison Dukes, certify that:
1. I have reviewed this Quarterly Report on Form 10-Q of Invesco Ltd.;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
| | | | | | | | |
| July 31, 2024 | | /s/ L. ALLISON DUKES |
| | | L. Allison Dukes |
| | | Senior Managing Director and Chief Financial Officer |
CERTIFICATION OF ANDREW R. SCHLOSSBERG
PURSUANT TO
18 U.S.C. SECTION 1350
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In connection with Invesco Ltd.'s (the “Company”) Quarterly Report on Form 10-Q for the period ended June 30, 2024 (the “Report”), I, Andrew R. Schlossberg, do hereby certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:
1. the Report fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934; and
2. the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
| | | | | | | | |
| July 31, 2024 | | /s/ ANDREW R. SCHLOSSBERG |
| | | Andrew R. Schlossberg |
| | | President and Chief Executive Officer |
CERTIFICATION OF L. ALLISON DUKES
PURSUANT TO
18 U.S.C. SECTION 1350
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In connection with Invesco Ltd.'s (the “Company”) Quarterly Report on Form 10-Q for the period ended June 30, 2024 (the “Report”), I, L. Allison Dukes, do hereby certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:
1. the Report fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934; and
2. the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
| | | | | | | | |
| July 31, 2024 | | /s/ L. ALLISON DUKES |
| | | L. Allison Dukes |
| | | Senior Managing Director and Chief Financial Officer |
v3.24.2
Cover Page
|
6 Months Ended |
|
Jun. 30, 2024
shares
|
|---|
| Cover [Abstract] |
|
| Document Type |
10-Q
|
| Document Quarterly Report |
true
|
| Document Period End Date |
Jun. 30, 2024
|
| Document Transition Report |
false
|
| Entity File Number |
001-13908
|
| Entity Registrant Name |
Invesco Ltd.
|
| Entity Incorporation, State or Country Code |
D0
|
| Entity Tax Identification Number |
98-0557567
|
| Entity Address, Address Line One |
1331 Spring Street,
|
| Entity Address, Address Line Two |
Suite 2500,
|
| Entity Address, City or Town |
Atlanta,
|
| Entity Address, State or Province |
GA
|
| Entity Address, Postal Zip Code |
30309
|
| City Area Code |
404
|
| Local Phone Number |
892-0896
|
| Title of 12(b) Security |
Common stock, $0.20 par value
|
| Trading Symbol |
IVZ
|
| Security Exchange Name |
NYSE
|
| Entity Current Reporting Status |
Yes
|
| Entity Interactive Data Current |
Yes
|
| Entity Filer Category |
Large Accelerated Filer
|
| Entity Small Business |
false
|
| Entity Emerging Growth Company |
false
|
| Entity Shell Company |
false
|
| Entity Common Stock, Shares Outstanding |
450,032,426
|
| Entity Central Index Key |
0000914208
|
| Current Fiscal Year End Date |
--12-31
|
| Document Fiscal Year Focus |
2024
|
| Document Fiscal Period Focus |
Q2
|
| Amendment Flag |
false
|
| X |
- DefinitionBoolean flag that is true when the XBRL content amends previously-filed or accepted submission.
| Name: |
dei_AmendmentFlag |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionEnd date of current fiscal year in the format --MM-DD.
| Name: |
dei_CurrentFiscalYearEndDate |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:gMonthDayItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionFiscal period values are FY, Q1, Q2, and Q3. 1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.
| Name: |
dei_DocumentFiscalPeriodFocus |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:fiscalPeriodItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThis is focus fiscal year of the document report in YYYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.
| Name: |
dei_DocumentFiscalYearFocus |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:gYearItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionFor the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
| Name: |
dei_DocumentPeriodEndDate |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:dateItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionBoolean flag that is true only for a form used as an quarterly report. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Form 10-Q
-Number 240
-Section 308
-Subsection a
| Name: |
dei_DocumentQuarterlyReport |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionBoolean flag that is true only for a form used as a transition report. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Forms 10-K, 10-Q, 20-F
-Number 240
-Section 13
-Subsection a-1
| Name: |
dei_DocumentTransitionReport |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
| Name: |
dei_DocumentType |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:submissionTypeItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAddress Line 1 such as Attn, Building Name, Street Name
| Name: |
dei_EntityAddressAddressLine1 |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAddress Line 2 such as Street or Suite number
| Name: |
dei_EntityAddressAddressLine2 |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- Definition
+ References
+ Details
| Name: |
dei_EntityAddressCityOrTown |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionCode for the postal or zip code
| Name: |
dei_EntityAddressPostalZipCode |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionName of the state or province.
| Name: |
dei_EntityAddressStateOrProvince |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:stateOrProvinceItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
| Name: |
dei_EntityCentralIndexKey |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:centralIndexKeyItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionIndicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.
| Name: |
dei_EntityCommonStockSharesOutstanding |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionIndicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.
| Name: |
dei_EntityCurrentReportingStatus |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:yesNoItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionIndicate if registrant meets the emerging growth company criteria. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
| Name: |
dei_EntityEmergingGrowthCompany |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionCommission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
| Name: |
dei_EntityFileNumber |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:fileNumberItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionIndicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
| Name: |
dei_EntityFilerCategory |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:filerCategoryItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTwo-character EDGAR code representing the state or country of incorporation.
| Name: |
dei_EntityIncorporationStateCountryCode |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:edgarStateCountryItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionBoolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-T
-Number 232
-Section 405
| Name: |
dei_EntityInteractiveDataCurrent |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:yesNoItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
| Name: |
dei_EntityRegistrantName |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionBoolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
| Name: |
dei_EntityShellCompany |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionIndicates that the company is a Smaller Reporting Company (SRC). Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
| Name: |
dei_EntitySmallBusiness |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
| Name: |
dei_EntityTaxIdentificationNumber |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:employerIdItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionLocal phone number for entity.
| Name: |
dei_LocalPhoneNumber |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTitle of a 12(b) registered security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
| Name: |
dei_Security12bTitle |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:securityTitleItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionName of the Exchange on which a security is registered. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
| Name: |
dei_SecurityExchangeName |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:edgarExchangeCodeItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTrading symbol of an instrument as listed on an exchange.
| Name: |
dei_TradingSymbol |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:tradingSymbolItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions |
Jun. 30, 2024 |
Dec. 31, 2023 |
| ASSETS |
|
|
| Cash and cash equivalents |
$ 878.5
|
$ 1,469.2
|
| Accounts receivable |
677.1
|
701.5
|
| Investments |
980.0
|
919.1
|
| Assets of consolidated investment products (CIP): |
|
|
| Cash and cash equivalents of CIP |
662.8
|
462.4
|
| Accounts receivable and other assets of CIP |
342.2
|
250.1
|
| Investments of CIP |
7,793.5
|
8,765.9
|
| Assets held for policyholders |
0.0
|
393.9
|
| Other assets |
834.4
|
832.6
|
| Property, equipment and software, net |
574.4
|
599.5
|
| Intangible assets, net |
5,818.8
|
5,848.1
|
| Goodwill |
8,605.9
|
8,691.5
|
| Total assets |
27,167.6
|
28,933.8
|
| LIABILITIES |
|
|
| Accrued compensation and benefits |
589.7
|
900.4
|
| Accounts payable and accrued expenses |
1,362.9
|
1,294.4
|
| Liabilities of CIP: |
|
|
| Debt of CIP |
6,671.1
|
7,121.8
|
| Other liabilities of CIP |
531.8
|
492.1
|
| Policyholder payables |
0.0
|
393.9
|
| Debt |
890.1
|
1,489.5
|
| Deferred tax liabilities, net |
1,356.6
|
1,325.7
|
| Total liabilities |
11,402.2
|
13,017.8
|
| Commitments and contingencies (See Note 10) |
|
|
| TEMPORARY EQUITY |
|
|
| Redeemable noncontrolling interests in consolidated entities |
568.9
|
745.7
|
| Equity attributable to Invesco Ltd.: |
|
|
| Preferred shares ($0.20 par value; $1,000 liquidation preference; 4.0 million authorized, issued and outstanding as of June 30, 2024 and December 31, 2023) |
4,010.5
|
4,010.5
|
| Common shares ($0.20 par value; 1,050.0 million authorized; 566.1 million shares issued as of June 30, 2024 and December 31, 2023) |
113.2
|
113.2
|
| Additional paid-in-capital |
7,316.3
|
7,451.6
|
| Treasury shares |
(2,850.1)
|
(3,002.6)
|
| Retained earnings |
6,917.0
|
6,826.7
|
| Accumulated other comprehensive income/(loss), net of tax |
(921.9)
|
(801.8)
|
| Total equity attributable to Invesco Ltd. |
14,585.0
|
14,597.6
|
| Equity attributable to nonredeemable noncontrolling interests in consolidated entities |
611.5
|
572.7
|
| Total permanent equity |
15,196.5
|
15,170.3
|
| Total liabilities, temporary and permanent equity |
$ 27,167.6
|
$ 28,933.8
|
| X |
- DefinitionAmount due from customers or clients of the entity's consolidated investment products within one year of the balance sheet date (or the normal operating cycle, whichever is longer) for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the net realizable fair value by an allowance established by the consolidated investment product entity of the amount it deems uncertain of collection.
| Name: |
ivz_Accountsreceivableandotherassetsofconsolidatedinvestmentproducts |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionIncludes currency of the entity's consolidated investment products on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts held by the entity's consolidated investment products that have the general characteristics of demand deposits in that the consolidated investment products may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents.
| Name: |
ivz_CashAndCashEquivalentsOfConsolidatedInvestmentProducts |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionConsolidated Investment Products (CIP) Assets
| Name: |
ivz_ConsolidatedInvestmentProductsCIPAssetsAbstract |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionConsolidated Investment Products (CIP) Liabilities
| Name: |
ivz_ConsolidatedInvestmentProductsCIPLiabilitiesAbstract |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionInvestment in Subsidiaries
| Name: |
ivz_InvestmentsOfConsolidatedInvestmentProducts |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionSum of the carrying values as of the balance sheet date of all long-term debt of the entity's consolidated investment products, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year (current maturities) or the normal operating cycle, if longer, and after deducting unamortized discount or premium, if any.
| Name: |
ivz_LongTermDebtOfConsolidatedInvestmentProducts |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionAggregate carrying amount as of the balance sheet date of current obligations of the entity's consolidated investment products not separately disclosed in the balance sheet due to materiality considerations. Current liabilities are expected to be paid within one year (or the normal operating cycle, if longer).
| Name: |
ivz_Otherliabilitiesofconsolidatedinvestmentproducts |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionStockholders Equity Attributable to Parent Abstract.
| Name: |
ivz_StockholdersEquityAttributableToParentAbstract |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionSum of the carrying values as of the balance sheet date of obligations incurred through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(15)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(15)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1
| Name: |
us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount, after allowance for credit loss, of right to consideration from customer for product sold and service rendered in normal course of business. Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 310
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477802/946-310-45-1
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(5)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 954
-SubTopic 310
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479196/954-310-45-1
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
| Name: |
us-gaap_AccountsReceivableNet |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-14A
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-11
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30)(a)(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(23)(a)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-14
| Name: |
us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionValue received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30)(a)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
| Name: |
us-gaap_AdditionalPaidInCapitalCommonStock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount of asset recognized for present right to economic benefit. Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32
Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (bb)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-3
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 25
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-25
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3
Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28
Reference 12: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10
Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-12
Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(12))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(8))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1
Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(18))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 19: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 28: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481404/852-10-50-7
Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30
Reference 30: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1
| Name: |
us-gaap_Assets |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- References
+ Details
| Name: |
us-gaap_AssetsAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483467/210-10-45-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-4
| Name: |
us-gaap_CashAndCashEquivalentsAtCarryingValue |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionRepresents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(17))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(25))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1
| Name: |
us-gaap_CommitmentsAndContingencies |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionAggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
| Name: |
us-gaap_CommonStockValue |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24
Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100
Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1
Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1
Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1
| Name: |
us-gaap_Goodwill |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionSum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-2
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-2
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482686/350-30-45-1
| Name: |
us-gaap_IntangibleAssetsNetExcludingGoodwill |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionSum of the carrying amounts as of the balance sheet date of all investments. Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480078/944-80-55-14
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480078/944-80-55-9
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(1)(h))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(1)(6))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
| Name: |
us-gaap_Investments |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount of liability recognized for present obligation requiring transfer or otherwise providing economic benefit to others. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(24))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(25))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(26))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(23))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(21))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-3
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 25
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-25
Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (bb)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-3
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3
Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28
Reference 15: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-12
Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(14))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1
Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 27: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481404/852-10-50-7
Reference 28: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481404/852-10-50-7
Reference 29: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30
| Name: |
us-gaap_Liabilities |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- References
+ Details
| Name: |
us-gaap_LiabilitiesAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(25))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1
Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28
Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(23))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(32))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
| Name: |
us-gaap_LiabilitiesAndStockholdersEquity |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482949/835-30-55-8
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(16))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1
Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B
Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D
Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(16)(a)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-4
| Name: |
us-gaap_LongTermDebt |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount of equity (deficit) attributable to noncontrolling interest. Excludes temporary equity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(24))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1
| Name: |
us-gaap_MinorityInterest |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount of assets classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1
Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-12
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(10))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(17))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
| Name: |
us-gaap_OtherAssets |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionAggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(21))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
| Name: |
us-gaap_PreferredStockValue |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 360
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-7A
Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(8))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 360
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478451/942-360-50-1
| Name: |
us-gaap_PropertyPlantAndEquipmentNet |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount of accumulated undistributed earnings (deficit). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30)(a)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-11
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(23)(a)(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(17))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1
Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1
| Name: |
us-gaap_RetainedEarningsAccumulatedDeficit |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount of asset at fair value held for benefit of separate account policyholder. Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480078/944-80-55-17
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480078/944-80-55-14
Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480078/944-80-55-9
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480109/944-80-50-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480141/944-80-45-1
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(11))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480141/944-80-45-2
| Name: |
us-gaap_SeparateAccountAssets |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount of liability for variable contract in which all or portion of contract holder's funds is allocated to specific separate account and supported by assets held in separate account. Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480078/944-80-55-9
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480141/944-80-45-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480109/944-80-50-2
Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 18
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480078/944-80-55-18
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480109/944-80-50-2
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480141/944-80-45-2
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(18))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
| Name: |
us-gaap_SeparateAccountsLiability |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10
Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-12
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2
Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(6))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3
Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1
Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3
Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28
Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480418/310-10-S99-2
| Name: |
us-gaap_StockholdersEquity |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(3)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483550/848-10-65-2
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479832/842-10-65-8
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483421/250-10-45-24
Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 23
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483421/250-10-45-23
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483421/250-10-45-5
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-5
Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6
Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6
Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6
Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6
Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6
Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (i)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6
Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-6
Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-6
Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2
Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2
Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482615/740-10-65-8
Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482615/740-10-65-8
Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4
Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1
Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1
Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-7
Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-5
Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481674/830-30-50-1
Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-17
Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20
Reference 34: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-11
Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 205
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478009/946-205-45-3
Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-3
Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1
Reference 38: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2
Reference 39: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3
Reference 40: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(6))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3
Reference 41: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3
Reference 42: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1
Reference 43: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1
Reference 44: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3
Reference 45: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28
Reference 46: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-15
Reference 47: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 16
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-16
Reference 48: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4I
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481175/810-10-55-4I
Reference 49: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476166/350-60-65-1
| Name: |
us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- References
+ Details
| Name: |
us-gaap_TemporaryEquityAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionCarrying amount, attributable to parent and noncontrolling interests, of an entity's issued and outstanding stock which is not included within permanent equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. Includes stock with a put option held by an ESOP and stock redeemable by a holder only in the event of a change in control of the issuer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28
| Name: |
us-gaap_TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionThe amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481520/505-30-50-4
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481549/505-30-45-1
| Name: |
us-gaap_TreasuryStockValue |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
v3.24.2
| X |
- DefinitionFace amount or stated value per share of common stock. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
| Name: |
us-gaap_CommonStockParOrStatedValuePerShare |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:perShareItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionThe maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(16)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1
| Name: |
us-gaap_CommonStockSharesAuthorized |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionTotal number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
| Name: |
us-gaap_CommonStockSharesIssued |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionThe per share liquidation preference (or restrictions) of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) that has a preference in involuntary liquidation considerably in excess of the par or stated value of the shares. The liquidation preference is the difference between the preference in liquidation and the par or stated values of the share. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-4
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13
| Name: |
us-gaap_PreferredStockLiquidationPreference |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:perShareItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionFace amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13
| Name: |
us-gaap_PreferredStockParOrStatedValuePerShare |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:perShareItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionThe maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(16)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1
| Name: |
us-gaap_PreferredStockSharesAuthorized |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionNumber of shares issued for nonredeemable preferred shares and preferred shares redeemable solely at option of issuer. Includes, but is not limited to, preferred shares issued, repurchased, and held as treasury shares. Excludes preferred shares classified as debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13
| Name: |
us-gaap_PreferredStockSharesIssued |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionAggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(16)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3
| Name: |
us-gaap_PreferredStockSharesOutstanding |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- References
+ Details
| Name: |
us-gaap_StatementOfFinancialPositionAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions |
3 Months Ended |
6 Months Ended |
Jun. 30, 2024 |
Jun. 30, 2023 |
Jun. 30, 2024 |
Jun. 30, 2023 |
| Operating revenues: |
|
|
|
|
| Total operating revenues |
$ 1,483.3
|
$ 1,442.8
|
$ 2,958.6
|
$ 2,861.0
|
| Operating expenses: |
|
|
|
|
| Third-party distribution, service and advisory |
495.4
|
462.5
|
999.4
|
917.6
|
| Employee compensation |
452.3
|
475.7
|
925.0
|
938.5
|
| Marketing |
20.6
|
23.1
|
38.7
|
42.7
|
| Property, office and technology |
116.4
|
112.7
|
234.0
|
223.2
|
| General and administrative |
180.4
|
151.9
|
318.9
|
256.9
|
| Transaction, integration and restructuring |
0.0
|
0.0
|
0.0
|
41.6
|
| Amortization of intangible assets |
11.4
|
13.1
|
22.7
|
27.2
|
| Total operating expenses |
1,276.5
|
1,239.0
|
2,538.7
|
2,447.7
|
| Operating income |
206.8
|
203.8
|
419.9
|
413.3
|
| Other income/(expense): |
|
|
|
|
| Equity in earnings of unconsolidated affiliates |
13.9
|
19.2
|
20.8
|
45.3
|
| Interest and dividend income |
11.0
|
7.1
|
23.4
|
15.7
|
| Interest expense |
(16.3)
|
(18.4)
|
(32.2)
|
(36.4)
|
| Other gains/(losses), net |
3.6
|
20.9
|
39.5
|
48.3
|
| Other income/(expense) of CIP, net |
40.9
|
(2.7)
|
71.4
|
(20.6)
|
| Income before income taxes |
259.9
|
229.9
|
542.8
|
465.6
|
| Income tax provision |
(64.0)
|
(65.5)
|
(132.7)
|
(135.4)
|
| Net income |
195.9
|
164.4
|
410.1
|
330.2
|
| Net (income)/loss attributable to noncontrolling interests in consolidated entities |
(4.5)
|
27.0
|
(18.0)
|
65.4
|
| Dividends declared on preferred shares |
(59.2)
|
(59.2)
|
(118.4)
|
(118.4)
|
| Net income attributable to Invesco Ltd. |
$ 132.2
|
$ 132.2
|
$ 273.7
|
$ 277.2
|
| Earnings per common share: |
|
|
|
|
| basic (in USD per share) |
$ 0.29
|
$ 0.29
|
$ 0.60
|
$ 0.61
|
| diluted (in USD per share) |
$ 0.29
|
$ 0.29
|
$ 0.60
|
$ 0.60
|
| Investment management fees |
|
|
|
|
| Operating revenues: |
|
|
|
|
| Total operating revenues |
$ 1,065.8
|
$ 1,033.5
|
$ 2,114.5
|
$ 2,061.4
|
| Service and distribution fees |
|
|
|
|
| Operating revenues: |
|
|
|
|
| Total operating revenues |
361.6
|
342.3
|
738.6
|
676.5
|
| Performance fees |
|
|
|
|
| Operating revenues: |
|
|
|
|
| Total operating revenues |
8.7
|
19.6
|
9.5
|
25.2
|
| Other |
|
|
|
|
| Operating revenues: |
|
|
|
|
| Total operating revenues |
$ 47.2
|
$ 47.4
|
$ 96.0
|
$ 97.9
|
| X |
- DefinitionOther Nonoperating Income (Expense), Consolidated Investment Products
| Name: |
ivz_OtherNonoperatingIncomeExpenseConsolidatedInvestmentProducts |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionIncludes: (1) renewal commissions paid to independent financial advisors for as long as the clients' assets are invested and are payments for the servicing of the client accounts, (2) the amortization of upfront commissions paid to brokers/dealers for sales of fund shares with a contingent deferred sales charge and (3) sub-transfer agency fees that are paid to a third party for transferring shares of a mutual fund or units of a unit trust into the investor's name.
| Name: |
ivz_ThirdPartyDistributionServiceAndAdvisory |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionTotal Transaction And Integration Charges
| Name: |
ivz_TotalTransactionAndIntegrationCharges |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionThe aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Subparagraph (b)
-SubTopic 10
-Topic 230
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482640/350-30-55-40
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-2
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482686/350-30-45-2
| Name: |
us-gaap_AmortizationOfIntangibleAssets |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of paid and unpaid preferred stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-SubTopic 405
-Topic 942
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477787/942-405-45-2
| Name: |
us-gaap_DividendsPreferredStock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_EarningsPerShareAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482635/260-10-55-52
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482635/260-10-55-15
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11
Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-7
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-2
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B
Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4
Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1
Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-10
Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2
Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1
Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1
Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-7
| Name: |
us-gaap_EarningsPerShareBasic |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:perShareItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482635/260-10-55-52
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482635/260-10-55-15
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11
Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-7
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-2
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B
Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4
Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1
Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2
Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1
Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1
Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-7
| Name: |
us-gaap_EarningsPerShareDiluted |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:perShareItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1
| Name: |
us-gaap_GeneralAndAdministrativeExpense |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Subparagraph (b)
-SubTopic 10
-Topic 230
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(10))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481664/323-10-45-1
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(12))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2
Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(13)(f))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1
| Name: |
us-gaap_IncomeLossFromEquityMethodInvestments |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48
Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-24
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483013/835-20-50-1
| Name: |
us-gaap_InterestExpense |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount before accretion (amortization) of purchase discount (premium) of interest income and dividend income on nonoperating securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(7)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(7)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2
| Name: |
us-gaap_InvestmentIncomeInterestAndDividend |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionExpenditures for planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services. Costs of public relations and corporate promotions are typically considered to be marketing costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2
| Name: |
us-gaap_MarketingExpense |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2
Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3
Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8
Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11
Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11
Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4
Reference 17: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-10
Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-7
Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1
Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1
Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3
Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 23: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B
Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7
Reference 34: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28
Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A
Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B
Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1
| Name: |
us-gaap_NetIncomeLoss |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(17))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6
Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-1A
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481175/810-10-55-4J
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B
| Name: |
us-gaap_NetIncomeLossAttributableToNoncontrollingInterest |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_NonoperatingIncomeExpenseAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionGenerally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.
| Name: |
us-gaap_OperatingExpenses |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_OperatingExpensesAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30
Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32
Reference 6: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32
Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31
| Name: |
us-gaap_OperatingIncomeLoss |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2
| Name: |
us-gaap_OtherNonoperatingIncomeExpense |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionThe consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8
Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-11
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 205
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478009/946-205-45-3
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-7
Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(16))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1
Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1
Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3
Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-19
Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6
Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-1
Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7
Reference 31: http://www.xbrl.org/2003/role/exampleRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 4J
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481175/810-10-55-4J
Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 4K
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481175/810-10-55-4K
Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A
Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B
Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-2
Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-1A
Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-1A
| Name: |
us-gaap_ProfitLoss |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32
Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32
Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479941/924-10-S99-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22
Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-4
| Name: |
us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_RevenuesAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- Details
| Name: |
srt_ProductOrServiceAxis=us-gaap_InvestmentAdviceMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
srt_ProductOrServiceAxis=us-gaap_DistributionAndShareholderServiceMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
srt_ProductOrServiceAxis=us-gaap_FinancialServiceOtherMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
v3.24.2
| X |
- DefinitionAmount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(24))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(26))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-5
| Name: |
us-gaap_ComprehensiveIncomeNetOfTax |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-19
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(24))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481175/810-10-55-4K
| Name: |
us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of paid and unpaid preferred stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-SubTopic 405
-Topic 942
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477787/942-405-45-2
| Name: |
us-gaap_DividendsPreferredStock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(17))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6
Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-1A
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481175/810-10-55-4J
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B
| Name: |
us-gaap_NetIncomeLossAttributableToNoncontrollingInterest |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 10A
-Subparagraph (a)
-SubTopic 10
-Topic 220
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-10A
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1
| Name: |
us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-SubTopic 10
-Topic 505
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481674/830-30-50-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-17
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1
Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-4
Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-5
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1
Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B
Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-SubTopic 10
-Topic 220
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482739/220-10-55-15
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A
| Name: |
us-gaap_OtherComprehensiveIncomeLossNetOfTax |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of increase (decrease) in other comprehensive income, after tax, from changes classified as other.
| Name: |
us-gaap_OtherComprehensiveIncomeOtherNetOfTax |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionThe consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8
Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-11
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 205
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478009/946-205-45-3
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-7
Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(16))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1
Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1
Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3
Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-19
Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6
Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-1
Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7
Reference 31: http://www.xbrl.org/2003/role/exampleRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 4J
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481175/810-10-55-4J
Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 4K
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481175/810-10-55-4K
Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A
Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B
Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-2
Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-1A
Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-1A
| Name: |
us-gaap_ProfitLoss |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions |
6 Months Ended |
Jun. 30, 2024 |
Jun. 30, 2023 |
| Operating activities: |
|
|
| Net income |
$ 410.1
|
$ 330.2
|
| Adjustments to reconcile net income to net cash provided by/(used in) operating activities: |
|
|
| Amortization and depreciation |
91.5
|
94.2
|
| Common share-based compensation expense |
39.5
|
69.8
|
| Other (gains)/losses, net |
(38.9)
|
(48.3)
|
| Other (gains)/losses of CIP, net |
12.0
|
120.0
|
| Equity in earnings of unconsolidated affiliates |
(20.8)
|
(45.3)
|
| Distributions from equity method investees |
28.2
|
6.5
|
| Changes in operating assets and liabilities: |
|
|
| (Purchase)/sale of investments by CIP, net |
47.6
|
(164.3)
|
| (Purchase)/sale of investments, net |
(1.7)
|
5.8
|
| (Increase)/decrease in receivables |
397.7
|
397.0
|
| Increase/(decrease) in payables |
(530.5)
|
(533.2)
|
| Net cash provided by/(used in) operating activities |
434.7
|
232.4
|
| Investing activities: |
|
|
| Purchase of property, equipment and software |
(47.7)
|
(84.8)
|
| Purchase of investments by CIP |
(1,661.4)
|
(1,190.9)
|
| Sale of investments by CIP |
1,725.8
|
1,251.7
|
| Purchase of investments |
(39.3)
|
(62.0)
|
| Sale of investments |
0.1
|
35.1
|
| Capital distribution from equity method investees |
121.2
|
12.3
|
| Net cash inflows/(outflows) upon consolidation/deconsolidation of CIP |
(41.3)
|
(10.6)
|
| Net cash provided by/(used in) investing activities |
57.4
|
(49.2)
|
| Financing activities: |
|
|
| Purchases of treasury shares |
(23.1)
|
(179.2)
|
| Dividends paid - preferred |
(118.4)
|
(118.4)
|
| Dividends paid - common |
(183.4)
|
(177.6)
|
| Third-party capital invested into CIP |
105.7
|
51.5
|
| Third-party capital distributed by CIP |
(108.5)
|
(150.0)
|
| Borrowings of debt of CIP |
307.7
|
251.8
|
| Repayments of debt of CIP |
(240.0)
|
(27.7)
|
| Borrowings of credit agreement |
1,436.3
|
0.0
|
| Repayments of credit agreement |
(1,436.3)
|
0.0
|
| Repayment of senior notes |
(600.0)
|
0.0
|
| Net cash provided by/(used in) financing activities |
(860.0)
|
(349.6)
|
| Increase/(decrease) in cash and cash equivalents |
(367.9)
|
(166.4)
|
| Supplemental Cash Flow Information [Abstract] |
|
|
| Foreign exchange movement on cash and cash equivalents |
(19.3)
|
18.2
|
| Foreign exchange movement on cash and cash equivalents of CIP |
(3.1)
|
1.2
|
| Cash and cash equivalents, beginning of period |
1,931.6
|
1,434.1
|
| Cash and cash equivalents, end of period |
1,541.3
|
1,287.1
|
| Cash and cash equivalents |
878.5
|
1,009.9
|
| Cash and cash equivalents of CIP |
662.8
|
277.2
|
| Total cash and cash equivalents per condensed consolidated statement of cash flows |
$ 1,541.3
|
$ 1,287.1
|
| X |
- DefinitionThe cash outflow from any dividend or other distribution in cash with respect to any shares of, or other ownership interest in, an entity, except a dividend consisting of distribution of earnings or stock dividend or pro rata stock split.
| Name: |
ivz_CapitalDistributedByConsolidatedInvestmentProducts |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionThe cash inflow from the capital received in cash from a partner in a partnership during the period.
| Name: |
ivz_CapitalInvestedIntoConsolidatedInvestmentProducts |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionIncludes currency of the entity's consolidated investment products on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts held by the entity's consolidated investment products that have the general characteristics of demand deposits in that the consolidated investment products may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents.
| Name: |
ivz_CashAndCashEquivalentsOfConsolidatedInvestmentProducts |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionEffect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, CIP
| Name: |
ivz_EffectofExchangeRateonCashCashEquivalentsRestrictedCashandRestrictedCashEquivalentsCIP |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionThis item represents the net total realized and unrealized gain (loss) included in earnings of the entity's consolidated investment products for the period as a result of selling or holding marketable securities. Additionally, this item would include any gains or losses realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments of the subject investments.
| Name: |
ivz_GainsAndLossesOfConsolidatedInvestmentProductsNet |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionProceeds From (Payments To) Consolidation And Deconsolidation Of Subsidiaries
| Name: |
ivz_ProceedsFromPaymentsToConsolidationAndDeconsolidationOfSubsidiaries |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionCash inflow associated with investments held by the entity's consolidated investment products.
| Name: |
ivz_ProceedsFromSaleOfInvestmentsByConsolidatedInvestmentProducts |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionProceeds from Debt, Consolidated Investment Products
| Name: |
ivz_ProceedsfromDebtConsolidatedInvestmentProducts |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionCash outflow associated with investments held by the entity's consolidated investment products.
| Name: |
ivz_PurchaseOfInvestmentsByConsolidatedInvestmentProducts |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionCash inflow (outflow) associated with investments held by the entity's consolidated investment products - operating activities
| Name: |
ivz_PurchasesaleofinvestmentsbyCIPnet |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionRepayments of consolidated investment products.
| Name: |
ivz_RepaymentsOfConsolidatedInvestmentProducts |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483467/210-10-45-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-4
| Name: |
us-gaap_CashAndCashEquivalentsAtCarryingValue |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482913/230-10-50-8
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-24
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-4
| Name: |
us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount of increase (decrease) in cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; excluding effect from exchange rate change. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-24
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-SubTopic 230
-Topic 830
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477401/830-230-45-1
| Name: |
us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionThe aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Subparagraph (b)
-SubTopic 10
-Topic 230
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48
Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22
| Name: |
us-gaap_DepreciationDepletionAndAmortization |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of increase (decrease) from effect of exchange rate changes on cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; held in foreign currencies. Excludes amounts for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 230
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477401/830-230-45-1
| Name: |
us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of distribution received from equity method investee for return on investment, classified as operating activities. Excludes distribution for return of investment, classified as investing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Subparagraph (b)
-SubTopic 10
-Topic 230
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(10))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 21D
-SubTopic 10
-Topic 230
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-21D
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(12))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2
| Name: |
us-gaap_EquityMethodInvestmentDividendsOrDistributions |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Subparagraph (b)
-SubTopic 10
-Topic 230
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(10))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481664/323-10-45-1
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(12))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2
Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(13)(f))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1
| Name: |
us-gaap_IncomeLossFromEquityMethodInvestments |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionThe increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Subparagraph (a)
-SubTopic 10
-Topic 230
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28
| Name: |
us-gaap_IncreaseDecreaseInAccountsPayable |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_IncreaseDecreaseInOperatingCapitalAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe increase (decrease) during the reporting period in the total amount due within one year (or one operating cycle) from all parties, associated with underlying transactions that are classified as operating activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Subparagraph (a)
-SubTopic 10
-Topic 230
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28
| Name: |
us-gaap_IncreaseDecreaseInReceivables |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-24
| Name: |
us-gaap_NetCashProvidedByUsedInFinancingActivities |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-24
| Name: |
us-gaap_NetCashProvidedByUsedInInvestingActivities |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-24
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-25
| Name: |
us-gaap_NetCashProvidedByUsedInOperatingActivities |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of income (expense) included in net income that results in no cash inflow (outflow), classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28
| Name: |
us-gaap_OtherNoncashIncomeExpense |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionThe net amount paid (received) by the reporting entity through acquisition or sale and maturities of short-term investments with an original maturity that is three months or less which qualify for treatment as an investing activity based on management's intention and intended by management to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-12
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-13
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-9
| Name: |
us-gaap_PaymentsForProceedsFromShortTermInvestments |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionThe cash outflow to reacquire common stock during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 15
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-15
| Name: |
us-gaap_PaymentsForRepurchaseOfCommonStock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 15
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-15
| Name: |
us-gaap_PaymentsOfDividendsCommonStock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of cash outflow in the form of ordinary dividends to preferred shareholders of the parent entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 15
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-15
| Name: |
us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of cash outflow to acquire investments classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-13
| Name: |
us-gaap_PaymentsToAcquireOtherInvestments |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionThe cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 13
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-13
| Name: |
us-gaap_PaymentsToAcquirePropertyPlantAndEquipment |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of distribution received from equity method investee for return of investment, classified as investing activities. Excludes distribution for return on investment, classified as operating activities. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-12
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 21D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-21D
| Name: |
us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(f))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-14
| Name: |
us-gaap_ProceedsFromLinesOfCredit |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of cash inflow from the sale of investments classified as other. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 12
-SubTopic 10
-Topic 230
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-12
| Name: |
us-gaap_ProceedsFromSaleOfOtherInvestments |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionThe consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8
Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-11
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 205
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478009/946-205-45-3
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-7
Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(16))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1
Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1
Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3
Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-19
Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6
Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-1
Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7
Reference 31: http://www.xbrl.org/2003/role/exampleRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 4J
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481175/810-10-55-4J
Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 4K
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481175/810-10-55-4K
Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A
Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B
Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-2
Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-1A
Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-1A
| Name: |
us-gaap_ProfitLoss |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of cash outflow for payment of an obligation from a lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 15
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-15
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(f))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1
| Name: |
us-gaap_RepaymentsOfLinesOfCredit |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionThe cash outflow for a long-term debt where the holder has highest claim on the entity's asset in case of bankruptcy or liquidation during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 15
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-15
| Name: |
us-gaap_RepaymentsOfSeniorDebt |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of noncash expense for share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Subparagraph (a)
-SubTopic 10
-Topic 230
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28
| Name: |
us-gaap_ShareBasedCompensation |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
v3.24.2
Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($)
$ in Millions |
Total |
Total Equity Attributable to Invesco Ltd. |
Preferred Shares |
Common Shares |
Additional Paid-in-Capital |
Treasury Shares |
Retained Earnings |
Accumulated Other Comprehensive Income/(Loss) |
Nonredeemable Noncontrolling Interests in Consolidated Entities |
| Beginning balance at Dec. 31, 2022 |
$ 15,843.5
|
$ 15,213.6
|
$ 4,010.5
|
$ 113.2
|
$ 7,554.9
|
$ (3,040.9)
|
$ 7,518.3
|
$ (942.4)
|
$ 629.9
|
| Increase (Decrease) in Stockholders' Equity [Roll Forward] |
|
|
|
|
|
|
|
|
|
| Net income |
356.9
|
395.6
|
|
|
|
|
395.6
|
|
(38.7)
|
| Other comprehensive income/(loss) |
124.1
|
124.1
|
|
|
|
|
|
124.1
|
|
| Change in noncontrolling interests in consolidated entities, net |
(53.4)
|
0.0
|
|
|
|
|
0.0
|
|
(53.4)
|
| Dividends declared - preferred |
(118.4)
|
(118.4)
|
|
|
|
|
(118.4)
|
|
|
| Dividends declared - common |
(177.6)
|
(177.6)
|
|
|
|
|
(177.6)
|
|
|
| Common share-based compensation |
69.8
|
69.8
|
|
|
69.8
|
|
|
|
|
| Vested common shares |
0.0
|
0.0
|
|
|
(188.3)
|
188.3
|
|
|
|
| Other common share awards |
1.0
|
1.0
|
|
|
(3.4)
|
4.4
|
|
|
|
| Purchase of common shares |
(179.2)
|
(179.2)
|
|
|
|
(179.2)
|
|
|
|
| Ending balance at Jun. 30, 2023 |
15,866.7
|
15,328.9
|
4,010.5
|
113.2
|
7,433.0
|
(3,027.4)
|
7,617.9
|
(818.3)
|
537.8
|
| Beginning balance at Dec. 31, 2022 |
998.7
|
|
|
|
|
|
|
|
|
| Increase (Decrease) in Temporary Equity [Roll Forward] |
|
|
|
|
|
|
|
|
|
| Net income |
(26.7)
|
|
|
|
|
|
|
|
|
| Change in noncontrolling interests in consolidated entities, net |
(130.1)
|
|
|
|
|
|
|
|
|
| Ending balance at Jun. 30, 2023 |
841.9
|
|
|
|
|
|
|
|
|
| Beginning balance at Mar. 31, 2023 |
15,930.2
|
15,343.0
|
4,010.5
|
113.2
|
7,412.6
|
(2,888.0)
|
7,577.6
|
(882.9)
|
587.2
|
| Increase (Decrease) in Stockholders' Equity [Roll Forward] |
|
|
|
|
|
|
|
|
|
| Net income |
177.5
|
191.4
|
|
|
|
|
191.4
|
|
(13.9)
|
| Other comprehensive income/(loss) |
64.6
|
64.6
|
|
|
|
|
|
64.6
|
|
| Change in noncontrolling interests in consolidated entities, net |
(35.5)
|
|
|
|
|
|
|
|
(35.5)
|
| Dividends declared - preferred |
(59.2)
|
(59.2)
|
|
|
|
|
(59.2)
|
|
|
| Dividends declared - common |
(91.9)
|
(91.9)
|
|
|
|
|
(91.9)
|
|
|
| Common share-based compensation |
32.0
|
32.0
|
|
|
32.0
|
|
|
|
|
| Vested common shares |
0.0
|
0.0
|
|
|
(7.7)
|
7.7
|
|
|
|
| Other common share awards |
0.5
|
0.5
|
|
|
(3.9)
|
4.4
|
|
|
|
| Purchase of common shares |
(151.5)
|
(151.5)
|
|
|
|
(151.5)
|
|
|
|
| Ending balance at Jun. 30, 2023 |
15,866.7
|
15,328.9
|
4,010.5
|
113.2
|
7,433.0
|
(3,027.4)
|
7,617.9
|
(818.3)
|
537.8
|
| Beginning balance at Mar. 31, 2023 |
879.6
|
|
|
|
|
|
|
|
|
| Increase (Decrease) in Temporary Equity [Roll Forward] |
|
|
|
|
|
|
|
|
|
| Net income |
(13.1)
|
|
|
|
|
|
|
|
|
| Change in noncontrolling interests in consolidated entities, net |
(24.6)
|
|
|
|
|
|
|
|
|
| Ending balance at Jun. 30, 2023 |
841.9
|
|
|
|
|
|
|
|
|
| Beginning balance at Dec. 31, 2023 |
15,170.3
|
14,597.6
|
4,010.5
|
113.2
|
7,451.6
|
(3,002.6)
|
6,826.7
|
(801.8)
|
572.7
|
| Increase (Decrease) in Stockholders' Equity [Roll Forward] |
|
|
|
|
|
|
|
|
|
| Net income |
450.9
|
392.1
|
|
|
|
|
392.1
|
|
58.8
|
| Other comprehensive income/(loss) |
(120.1)
|
(120.1)
|
|
|
|
|
|
(120.1)
|
|
| Change in noncontrolling interests in consolidated entities, net |
(20.0)
|
0.0
|
|
|
|
|
0.0
|
|
(20.0)
|
| Dividends declared - preferred |
(118.4)
|
(118.4)
|
|
|
|
|
(118.4)
|
|
|
| Dividends declared - common |
(183.4)
|
(183.4)
|
|
|
|
|
(183.4)
|
|
|
| Common share-based compensation |
39.5
|
39.5
|
|
|
39.5
|
|
|
|
|
| Vested common shares |
0.0
|
0.0
|
|
|
(175.4)
|
175.4
|
|
|
|
| Other common share awards |
0.8
|
0.8
|
|
|
0.6
|
0.2
|
|
|
|
| Purchase of common shares |
(23.1)
|
(23.1)
|
|
|
|
(23.1)
|
|
|
|
| Ending balance at Jun. 30, 2024 |
15,196.5
|
14,585.0
|
4,010.5
|
113.2
|
7,316.3
|
(2,850.1)
|
6,917.0
|
(921.9)
|
611.5
|
| Beginning balance at Dec. 31, 2023 |
745.7
|
|
|
|
|
|
|
|
|
| Increase (Decrease) in Temporary Equity [Roll Forward] |
|
|
|
|
|
|
|
|
|
| Net income |
(40.8)
|
|
|
|
|
|
|
|
|
| Change in noncontrolling interests in consolidated entities, net |
(136.0)
|
|
|
|
|
|
|
|
|
| Ending balance at Jun. 30, 2024 |
568.9
|
|
|
|
|
|
|
|
|
| Beginning balance at Mar. 31, 2024 |
15,185.0
|
14,554.8
|
4,010.5
|
113.2
|
7,314.6
|
(2,864.4)
|
6,878.0
|
(897.1)
|
630.2
|
| Increase (Decrease) in Stockholders' Equity [Roll Forward] |
|
|
|
|
|
|
|
|
|
| Net income |
212.3
|
191.4
|
|
|
|
|
191.4
|
|
20.9
|
| Other comprehensive income/(loss) |
(24.8)
|
(24.8)
|
|
|
|
|
|
(24.8)
|
|
| Change in noncontrolling interests in consolidated entities, net |
(39.6)
|
|
|
|
|
|
|
|
(39.6)
|
| Dividends declared - preferred |
(59.2)
|
(59.2)
|
|
|
|
|
(59.2)
|
|
|
| Dividends declared - common |
(93.2)
|
(93.2)
|
|
|
|
|
(93.2)
|
|
|
| Common share-based compensation |
18.4
|
18.4
|
|
|
18.4
|
|
|
|
|
| Vested common shares |
0.0
|
0.0
|
|
|
(17.0)
|
17.0
|
|
|
|
| Other common share awards |
0.3
|
0.3
|
|
|
0.3
|
0.0
|
|
|
|
| Purchase of common shares |
(2.7)
|
(2.7)
|
|
|
|
(2.7)
|
|
|
|
| Ending balance at Jun. 30, 2024 |
15,196.5
|
$ 14,585.0
|
$ 4,010.5
|
$ 113.2
|
$ 7,316.3
|
$ (2,850.1)
|
$ 6,917.0
|
$ (921.9)
|
$ 611.5
|
| Beginning balance at Mar. 31, 2024 |
667.8
|
|
|
|
|
|
|
|
|
| Increase (Decrease) in Temporary Equity [Roll Forward] |
|
|
|
|
|
|
|
|
|
| Net income |
(16.4)
|
|
|
|
|
|
|
|
|
| Change in noncontrolling interests in consolidated entities, net |
(82.5)
|
|
|
|
|
|
|
|
|
| Ending balance at Jun. 30, 2024 |
$ 568.9
|
|
|
|
|
|
|
|
|
| X |
- DefinitionIncrease or decrease in noncontrolling interest balance from receipt of contributions or payment of dividends or other distributions to noncontrolling interest shareholders.
| Name: |
ivz_ChangeInNoncontrollingInterestsInConsolidatedEntitiesNet |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionRecognition of treasury shares as outstanding upon the vesting of share-based payment awards granted to employees that are in the form of restricted stock awards and restricted share units.
| Name: |
ivz_VestedShares |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of increase to additional paid-in capital (APIC) for recognition of cost for restricted stock unit under share-based payment arrangement.
| Name: |
us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of increase to additional paid-in capital (APIC) for recognition of cost for award under share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-2
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 20
-Section 55
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481089/718-20-55-13
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 20
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481089/718-20-55-12
| Name: |
us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of paid and unpaid common stock dividends declared with the form of settlement in cash. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1
| Name: |
us-gaap_DividendsCommonStockCash |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of paid and unpaid preferred stock dividends declared with the form of settlement in cash. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-SubTopic 405
-Topic 942
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477787/942-405-45-2
| Name: |
us-gaap_DividendsPreferredStockCash |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionA roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.
| Name: |
us-gaap_IncreaseDecreaseInStockholdersEquityRollForward |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionA roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.
| Name: |
us-gaap_IncreaseDecreaseInTemporaryEquityRollForward |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount after income tax of income (loss) including the portion attributable to nonredeemable noncontrolling interest. Excludes the portion attributable to redeemable noncontrolling interest recognized as temporary equity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 3A
-Subparagraph (3)
-SubTopic 10
-Topic 480
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480244/480-10-S99-3A
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-1A
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-1A
| Name: |
us-gaap_NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-SubTopic 10
-Topic 505
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481674/830-30-50-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-17
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1
Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-4
Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-5
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1
Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B
Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-SubTopic 10
-Topic 220
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482739/220-10-55-15
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A
| Name: |
us-gaap_OtherComprehensiveIncomeLossNetOfTax |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(3)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483550/848-10-65-2
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479832/842-10-65-8
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483421/250-10-45-24
Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 23
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483421/250-10-45-23
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483421/250-10-45-5
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-5
Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6
Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6
Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6
Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6
Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6
Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (i)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6
Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-6
Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-6
Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2
Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2
Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482615/740-10-65-8
Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482615/740-10-65-8
Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4
Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1
Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1
Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-7
Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-5
Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481674/830-30-50-1
Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-17
Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20
Reference 34: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-11
Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 205
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478009/946-205-45-3
Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-3
Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1
Reference 38: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2
Reference 39: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3
Reference 40: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(6))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3
Reference 41: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3
Reference 42: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1
Reference 43: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1
Reference 44: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3
Reference 45: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28
Reference 46: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-15
Reference 47: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 16
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-16
Reference 48: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4I
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481175/810-10-55-4I
Reference 49: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476166/350-60-65-1
| Name: |
us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionCarrying amount, attributable to parent and noncontrolling interests, of an entity's issued and outstanding stock which is not included within permanent equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. Includes stock with a put option held by an ESOP and stock redeemable by a holder only in the event of a change in control of the issuer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28
| Name: |
us-gaap_TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionThe portion of net income or loss attributable to temporary equity interest.
| Name: |
us-gaap_TemporaryEquityNetIncome |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of increase (decrease) in temporary equity from changes classified as other.
| Name: |
us-gaap_TemporaryEquityOtherChanges |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionEquity impact of the cost of common and preferred stock that were repurchased during the period. Recorded using the cost method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-SubTopic 10
-Topic 505
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481549/505-30-45-1
| Name: |
us-gaap_TreasuryStockValueAcquiredCostMethod |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
v3.24.2
| X |
- DefinitionAggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1
| Name: |
us-gaap_CommonStockDividendsPerShareDeclared |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:perShareItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAggregate dividends declared during the period for each share of preferred stock outstanding.
| Name: |
us-gaap_PreferredStockDividendsPerShareDeclared |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:perShareItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_StatementOfStockholdersEquityAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
ACCOUNTING POLICIES
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Accounting Policies [Abstract] |
|
| ACCOUNTING POLICIES |
ACCOUNTING POLICIES Corporate Information
Invesco Ltd. (the Parent) and its consolidated entities (collectively, the company or Invesco) provide retail and institutional clients with an array of investment management capabilities. The company operates globally and its sole business is investment management.
Certain disclosures included in the company’s annual report on Form 10-K for the year ended December 31, 2023 (annual report or Form 10-K) are not required to be included on an interim basis in the company’s quarterly reports on Forms 10-Q (Report). The company has condensed or omitted these disclosures. Therefore, this Report should be read in conjunction with the company’s annual report.
Basis of Accounting and Consolidation
The unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) for interim financial information and with rules and regulations of the U.S. Securities and Exchange Commission (SEC) and consolidate the financial statements of the Parent and all of its controlled subsidiaries. In the opinion of management, the Condensed Consolidated Financial Statements reflect all adjustments, consisting of normal recurring accruals, which are necessary for the fair presentation of the financial condition and results of operations for the periods presented. All significant intercompany transactions, balances, revenues and expenses are eliminated upon consolidation. The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates.
Reclassifications
Beginning in the quarter ended March 31, 2024, expenses for client-related travel and entertainment and outsourced services were reclassified to General and administrative expenses. The impact of this reclassification on the Consolidated Statements of Income is as follows:
• For the three months ended June 30, 2024: decreased Marketing and Property, office and technology expenses by $7.7 million and $22.8 million, respectively, and increased General and administrative by $30.5 million.
• For the three months ended June 30, 2023: decreased Marketing and Property, office and technology expenses by $5.9 million and $24.4 million, respectively, and increased General and administrative by $30.3 million.
• For the six months ended June 30, 2024: decreased Marketing and Property, office and technology expenses by $14.4 million and $46.4 million, respectively, and increased General and administrative by $60.8 million.
• For the six months ended June 30, 2023: decreased Marketing and Property, office and technology expenses by $11.3 million and $48.3 million, respectively, and increased General and administrative by $59.6 million.
The reclassification had no impact on our reported Operating revenues, Operating income, Net income, or any internal performance measure on which management is compensated.
Accounting Pronouncements Recently Adopted
None.
Pending Accounting Pronouncements
Refer to the most recent Form 10-K filed with the SEC.
|
| X |
- References
+ Details
| Name: |
us-gaap_AccountingPoliciesAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe entire disclosure for the organization, consolidation and basis of presentation of financial statements disclosure, and significant accounting policies of the reporting entity. May be provided in more than one note to the financial statements, as long as users are provided with an understanding of (1) the significant judgments and assumptions made by an enterprise in determining whether it must consolidate a VIE and/or disclose information about its involvement with a VIE, (2) the nature of restrictions on a consolidated VIE's assets reported by an enterprise in its statement of financial position, including the carrying amounts of such assets, (3) the nature of, and changes in, the risks associated with an enterprise's involvement with the VIE, and (4) how an enterprise's involvement with the VIE affects the enterprise's financial position, financial performance, and cash flows. Describes procedure if disclosures are provided in more than one note to the financial statements. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 235
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/235/tableOfContent
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 275
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/275/tableOfContent
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 810
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/810/tableOfContent
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/205/tableOfContent
| Name: |
us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
FAIR VALUE OF ASSETS AND LIABILITIES
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Fair Value Disclosures [Abstract] |
|
| FAIR VALUE OF ASSETS AND LIABILITIES |
FAIR VALUE OF ASSETS AND LIABILITIES The fair value of financial instruments is presented in the below summary table. The fair value of financial instruments held by CIP are presented in Note 11, "Consolidated Investment Products." See the company’s most recently filed Form 10-K for additional disclosures on valuation methodology and fair value.
| | | | | | | | | | | | | | | June 30, 2024 | | December 31, 2023 | | (in millions) | | Fair Value | | Fair Value | | Cash and cash equivalents | | $ | 878.5 | | | $ | 1,469.2 | | | | | | | | Equity investments | | 320.3 | | | 272.4 | | | | | | | | | | | | | Assets held for policyholders | | — | | | 393.9 | | Policyholder payables (1) | | — | | | (393.9) | | | Total return swap related to deferred compensation plans | | 6.9 | | | 4.9 | | | | | | |
____________ (1) These financial instruments are not measured at fair value on a recurring basis. Policyholder payables were indexed to the value of the assets held for policyholders and changes in fair value were recorded and offset to zero in other operating revenues. In January 2024, all funds were distributed to customers.
The following table presents, by hierarchy levels, the carrying value of the company’s assets and liabilities, including major security type for equity investments, which are measured at fair value on the company’s Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023, respectively:
| | | | | | | | | | | | | | | | | | | | | | | | | As of June 30, 2024 | | (in millions) | Fair Value Measurements | | Quoted Prices in Active Markets for Identical Assets
(Level 1) | | Significant Other Observable Inputs
(Level 2) | | Significant Unobservable Inputs
(Level 3) | | Assets: | | | | | | | | | Cash equivalents: | | | | | | | | Money market funds (1) | $ | 430.8 | | | $ | 430.8 | | | $ | — | | | $ | — | | Investments: (2) | | | | | | | | | Equity investments: | | | | | | | | | Seed capital | 106.1 | | | 106.1 | | | — | | | — | | | Investments related to deferred compensation plans | 214.2 | | | 214.2 | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total return swap related to deferred compensation plans | 6.9 | | | — | | | 6.9 | | | — | | | Total | $ | 758.0 | | | $ | 751.1 | | | $ | 6.9 | | | $ | — | | | Liabilities: | | | | | | | | | | | | | | | | | Contingent consideration liability | $ | (1.3) | | | $ | — | | | $ | — | | | $ | (1.3) | | | Total | $ | (1.3) | | | $ | — | | | $ | — | | | $ | (1.3) | |
| | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2023 | | (in millions) | Fair Value Measurements | | Quoted Prices in Active Markets for Identical Assets
(Level 1) | | Significant Other Observable Inputs
(Level 2) | | Significant Unobservable Inputs
(Level 3) | | Assets: | | | | | | | | | Cash equivalents: | | | | | | | | Money market funds (1) | $ | 927.8 | | | $ | 927.8 | | | $ | — | | | $ | — | | Investments (2): | | | | | | | | | Equity investments: | | | | | | | | | Seed capital | 75.7 | | | 75.7 | | | — | | | — | | | Investments related to deferred compensation plans | 196.7 | | | 196.7 | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Assets held for policyholders (3) | 393.9 | | | 393.9 | | | — | | | — | | | Total return swap related to deferred compensation plans | 4.9 | | | — | | | 4.9 | | | — | | | Total | $ | 1,599.0 | | | $ | 1,594.1 | | | $ | 4.9 | | | $ | — | | | Liabilities: | | | | | | | | | | | | | | | | | Contingent consideration liability | $ | (1.3) | | | $ | — | | | $ | — | | | $ | (1.3) | | | Total | $ | (1.3) | | | $ | — | | | $ | — | | | $ | (1.3) | |
____________ (1) The balance primarily represents cash held in affiliated money market funds. (2) Equity method and other investments of $644.9 million and $14.8 million, respectively, are excluded from this table (December 31, 2023: $631.8 million and $14.9 million, respectively). These investments are not measured at fair value, in accordance with applicable accounting standards. (3) The majority of Assets held for policyholders were held in affiliated funds.
Total Return Swap (TRS)
In addition to holding equity investments, the company has a TRS to hedge economically certain deferred compensation liabilities. The notional value of the TRS at June 30, 2024 was $424.4 million, and the fair value of the TRS was an asset of $6.9 million (December 31, 2023 notional value was $393.0 million and the fair value was an asset of $4.9 million). During the three months ended June 30, 2024, market valuation losses related to the TRS were $1.2 million and during the six months ended June 30, 2024 gains related to the TRS were $16.8 million (three and six months ended June 30, 2023: $7.3 million and $20.3 million net gain).
The fair value of the TRS was determined under the market approach using quoted prices of the underlying investments and, as such, is classified as level 2 of the valuation hierarchy. The TRS is not designated for hedge accounting.
|
| X |
- References
+ Details
| Name: |
us-gaap_FairValueDisclosuresAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1
| Name: |
us-gaap_FairValueDisclosuresTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
INVESTMENTS
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Investments [Abstract] |
|
| INVESTMENTS |
INVESTMENTS The disclosures below include details of the company’s investments. Investments held by CIP are detailed in Note 11, "Consolidated Investment Products."
| | | | | | | | | | | | | (in millions) | June 30, 2024 | | December 31, 2023 | | Equity investments: | | | | | Seed capital | $ | 106.1 | | | $ | 75.7 | | | Investments related to deferred compensation plans | 214.2 | | | 196.7 | | | | | | | | | | | | | | | | | | | Equity method investments | 644.9 | | | 631.8 | | | | | | | Other | 14.8 | | | 14.9 | | Total investments (1) | $ | 980.0 | | | $ | 919.1 | |
_________(1) The majority of the company’s investment balances relate to balances held in affiliated funds and equity method investees. Equity investments
The unrealized gains and losses for the three and six months ended June 30, 2024 that relate to equity investments still held at June 30, 2024 were a $13.2 million net gain and $19.8 million net gain (three and six months ended June 30, 2023: $9.6 million net gain $22.9 million net gain).
|
| X |
- DefinitionThe entire disclosure for investment. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/320/tableOfContent
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Topic 321
-Publisher FASB
-URI https://asc.fasb.org/321/tableOfContent
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Topic 325
-Publisher FASB
-URI https://asc.fasb.org/325/tableOfContent
| Name: |
us-gaap_InvestmentTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_InvestmentsAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
DEBT
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Debt Disclosure [Abstract] |
|
| DEBT |
DEBT The disclosures below include details of the company’s debt. Debt of CIP is detailed in Note 11, "Consolidated Investment Products."
| | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2024 | | December 31, 2023 | | (in millions) | Carrying Value (3) | | Fair Value | | Carrying Value (3) | | Fair Value | $2.0 billion floating rate credit agreement expiring April 26, 2028 | $ | — | | | $ | — | | | $ | — | | | $ | — | | Unsecured Senior Notes: (1) | | | | | | | | | | | | | | | | $600 million 4.000% - due January 30, 2024 (2) | — | | | — | | | 599.9 | | | 599.1 | | $500 million 3.750% - due January 15, 2026 | 498.9 | | | 489.7 | | | 498.6 | | | 489.1 | | $400 million 5.375% - due November 30, 2043 | 391.2 | | | 380.9 | | | 391.0 | | | 409.6 | | | Debt | $ | 890.1 | | | $ | 870.6 | | | $ | 1,489.5 | | | $ | 1,497.8 | |
____________ (1) The company’s senior note indentures contain certain restrictions on mergers or consolidations. Beyond these items, there are no other restrictive covenants in the indentures. (2) On January 30, 2024, the outstanding balance of the $600.0 million senior notes was paid in full. (3) The difference between the principal amounts and the carrying values of the senior notes in the table above reflect the unamortized debt issuance costs and discounts.
|
| X |
- References
+ Details
| Name: |
us-gaap_DebtDisclosureAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1
Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent
Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B
Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B
Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C
Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C
Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C
Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E
Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I
Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I
Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I
| Name: |
us-gaap_DebtDisclosureTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
SHARE CAPITAL
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Equity [Abstract] |
|
| SHARE CAPITAL |
SHARE CAPITAL The number of preferred shares issued and outstanding is represented in the table below:
| | | | | | | | | | | | | As of | | (in millions) | June 30, 2024 | | December 31, 2023 | Preferred shares issued (1) | 4.0 | | 4.0 | | | | | | Preferred shares outstanding (1) | 4.0 | | 4.0 | |
____________(1) Substantially all the preferred shares are held by Massachusetts Mutual Life Insurance Company (MassMutual). The five-year lock-up period which prohibited the sale of the preferred shares by MassMutual expired on May 24, 2024.
The number of common shares and common share equivalents issued are represented in the table below:
| | | | | | | | | | | | | As of | | (in millions) | June 30, 2024 | | December 31, 2023 | | | | | | | | | | Common shares issued | 566.1 | | | 566.1 | | Less: Treasury shares for which dividend and voting rights do not apply | (116.1) | | | (116.6) | | | Common shares outstanding | 450.0 | | | 449.5 | |
|
| X |
- References
+ Details
| Name: |
us-gaap_EquityAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe entire disclosure for equity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1
Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent
Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13
Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14
Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14
Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-16
Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18
Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18
Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18
| Name: |
us-gaap_StockholdersEquityNoteDisclosureTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
OTHER COMPREHENSIVE INCOME/(LOSS)
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Equity [Abstract] |
|
| OTHER COMPREHENSIVE INCOME/(LOSS) |
OTHER COMPREHENSIVE INCOME/(LOSS) The components of accumulated other comprehensive income/(loss) were as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, 2024 | | Three months ended June 30, 2023 | | | | | (in millions) | Foreign currency translation | | Employee benefit plans | | | | | | Total | | Foreign currency translation | | Employee benefit plans | | Total | | | | | | | | | Other comprehensive income/(loss), net of tax: | | | | | | | | | | | | | | | | | | | | | | | Currency translation differences on investments in foreign subsidiaries | $ | (25.8) | | | $ | — | | | | | | | $ | (25.8) | | | $ | 63.8 | | | $ | — | | | $ | 63.8 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Other comprehensive income/(loss), net | — | | | 1.0 | | | | | | | 1.0 | | | — | | | 0.8 | | | 0.8 | | | | | | | | | | Other comprehensive income/(loss), net of tax | (25.8) | | | 1.0 | | | | | | | (24.8) | | | 63.8 | | | 0.8 | | | 64.6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Beginning balance | (766.4) | | | (130.7) | | | | | | | (897.1) | | | (759.9) | | | (123.0) | | | (882.9) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Other comprehensive income/(loss), net of tax | (25.8) | | | 1.0 | | | | | | | (24.8) | | | 63.8 | | | 0.8 | | | 64.6 | | | | | | | | | | Ending balance | $ | (792.2) | | | $ | (129.7) | | | | | | | $ | (921.9) | | | $ | (696.1) | | | $ | (122.2) | | | $ | (818.3) | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six months ended June 30, 2024 | | Six months ended June 30, 2023 | | (in millions) | Foreign currency translation | | Employee benefit plans | | | | | | Total | | Foreign currency translation | | Employee benefit plans | | Total | | Other comprehensive income/(loss), net of tax: | | | | | | | | | | | | | | | | Currency translation differences on investments in foreign subsidiaries | $ | (122.1) | | | $ | — | | | | | | | $ | (122.1) | | | $ | 118.9 | | | $ | — | | | $ | 118.9 | | | | | | | | | | | | | | | | | | | Other comprehensive income/(loss), net | — | | | 2.0 | | | | | | | 2.0 | | | — | | | 5.2 | | | 5.2 | | | Other comprehensive income/(loss), net of tax | (122.1) | | | 2.0 | | | | | | | (120.1) | | | 118.9 | | | 5.2 | | | 124.1 | | | | | | | | | | | | | | | | | | | Beginning balance | (670.1) | | | (131.7) | | | | | | | (801.8) | | | (815.0) | | | (127.4) | | | (942.4) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Other comprehensive income/(loss), net of tax | (122.1) | | | 2.0 | | | | | | | (120.1) | | | 118.9 | | | 5.2 | | | 124.1 | | | Ending balance | $ | (792.2) | | | $ | (129.7) | | | | | | | $ | (921.9) | | | $ | (696.1) | | | $ | (122.2) | | | $ | (818.3) | |
|
| X |
- DefinitionThe entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/220/tableOfContent
| Name: |
us-gaap_ComprehensiveIncomeNoteTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_EquityAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
REVENUE
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Revenue from Contract with Customer [Abstract] |
|
| REVENUE |
REVENUE The geographic disaggregation of revenue for the three and six months ended June 30, 2024 and 2023 are presented below. There are no revenues attributed to the company’s country of domicile, Bermuda.
| | | | | | | | | | | | | Three months ended June 30, | | (in millions) | 2024 | | 2023 | | Americas | $ | 1,145.5 | | | $ | 1,108.1 | | | Asia-Pacific (APAC) | 62.1 | | 63.7 | | Europe, Middle East and Africa (EMEA) | 275.7 | | 271.0 | | | | | | Total operating revenues | $ | 1,483.3 | | | $ | 1,442.8 | |
| | | | | | | | | | | | | Six months ended June 30, | | (in millions) | 2024 | | 2023 | | Americas | $ | 2,286.1 | | | $ | 2,191.5 | | | Asia-Pacific (APAC) | 130.8 | | 133.6 | | Europe, Middle East and Africa (EMEA) | 541.7 | | 535.9 | | | | | | Total operating revenues | $ | 2,958.6 | | | $ | 2,861.0 | |
|
| X |
- References
+ Details
| Name: |
us-gaap_RevenueFromContractWithCustomerAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent
| Name: |
us-gaap_RevenueFromContractWithCustomerTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
COMMON SHARE-BASED COMPENSATION
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| COMMON SHARE-BASED COMPENSATION |
COMMON SHARE-BASED COMPENSATION The company recognized total compensation expense of $39.5 million and $69.8 million related to equity-settled common share-based compensation in the six months ended June 30, 2024 and 2023, respectively.
Movements on employee common share awards during the periods ended June 30 are detailed below:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six months ended June 30, 2024 | | Six months ended June 30, 2023 | | (in millions of common shares, except fair values) | Time- Vested | | Performance- Vested | | Weighted Average Grant Date Fair Value | | Time- Vested | | Performance- Vested | | | Unvested at the beginning of period | 10.4 | | | 1.6 | | | $ | 18.84 | | | 10.3 | | | 2.1 | | | | | Granted during the period | 4.9 | | | 0.9 | | | 15.13 | | | 4.3 | | | 0.7 | | | | | Forfeited during the period | (0.4) | | | (0.1) | | | 17.91 | | | (0.1) | | | (0.2) | | | | Vested and distributed during the period | (4.6) | | | (0.5) | | | 18.29 | | | (4.8) | | | (0.5) | | | | Unvested at the end of the period | 10.3 | | | 1.9 | | | $ | 17.37 | | | 9.7 | | | 2.1 | | | |
The total fair value of common shares that vested during the six months ended June 30, 2024 was $77.7 million (six months ended June 30, 2023: $91.3 million). The weighted average grant date fair value of the United States (U.S.) dollar share awards that were granted during the six months ended June 30, 2024 was $15.13 (six months ended June 30, 2023: $17.73). At June 30, 2024, there was $161.1 million of total unrecognized compensation cost related to non-vested common share awards; that cost is expected to be recognized over a weighted average period of 2.74 years.
|
| X |
- DefinitionThe entire disclosure for share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/718/tableOfContent
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2
| Name: |
us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
EARNINGS PER COMMON SHARE
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Earnings Per Share [Abstract] |
|
| EARNINGS PER COMMON SHARE |
EARNINGS PER COMMON SHARE The calculation of earnings per common share (EPS) is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30 | | | | | | | (in millions, except per share data) | 2024 | | 2023 | | 2024 | | 2023 | | | | | | | | | Net income attributable to Invesco Ltd. | $ | 132.2 | | | $ | 132.2 | | | $ | 273.7 | | | $ | 277.2 | | | | | | | | | | | | | | | | | | | | | | | | | Invesco Ltd: | | | | | | | | | | | | | | | | Weighted average common shares outstanding - basic | 455.5 | | | 457.9 | | | 457.1 | | | 458.0 | | | | | | | | | | Dilutive effect of non-participating common share-based awards | 0.6 | | | 0.9 | | | 0.4 | | | 0.9 | | | | | | | | | | Weighted average common shares outstanding - diluted | 456.1 | | | 458.8 | | | 457.5 | | | 458.9 | | | | | | | | | | | | | | | | | | | | | | | | | Earnings per common share: | | | | | | | | | | | | | | | | -basic | $ | 0.29 | | | $ | 0.29 | | | $ | 0.60 | | | $ | 0.61 | | | | | | | | | | -diluted | $ | 0.29 | | | $ | 0.29 | | | $ | 0.60 | | | $ | 0.60 | | | | | | | | |
See Note 8, "Common Share-Based Compensation," for a summary of common share awards outstanding under the company’s common share-based payment programs. These programs could result in the issuance of common shares that would affect the measurement of basic and diluted EPS.
|
| X |
- References
+ Details
| Name: |
us-gaap_EarningsPerShareAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/260/tableOfContent
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-2
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-3
| Name: |
us-gaap_EarningsPerShareTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
COMMITMENTS AND CONTINGENCIES
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Commitments and Contingencies Disclosure [Abstract] |
|
| COMMITMENTS AND CONTINGENCIES |
COMMITMENTS AND CONTINGENCIES Commitments and contingencies may arise in the ordinary course of business.
The company has committed to co-invest in certain investment products, which may be called in future periods. At June 30, 2024, the company’s undrawn co-invest capital commitments were $750.4 million (December 31, 2023: $623.3 million). Certain of our managed investment products have entered into revolving credit facilities with financial institutions. The company provided equity commitments and guarantees to the financial institutions for certain of these revolving credit facilities that are temporary in nature. The revolving credit facilities look first to the respective investment products for repayment and servicing. The company’s equity commitment or guarantee would only be called in the event a particular investment product is unable to meet its obligation. The company believes the likelihood of being required to fund its equity commitments or guarantees under these arrangements to be remote. To date, the company has not been required to fund any equity commitments or guarantees under these arrangements. The maximum amount of future payments under the commitments is $221.1 million and under the guarantees is $30.0 million. The fair value of the guarantee liability is not significant to the consolidated financial statements.
The company and some of its subsidiaries have entered into agreements with financial institutions to guarantee certain obligations of other company subsidiaries. The company would be required to perform under these guarantees in the event of certain defaults. The company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.
Legal Contingencies
The company is from time to time involved in pending or threatened litigation relating to claims arising in the ordinary course of its business. The nature and progression of litigation can make it difficult to predict the impact a particular lawsuit or claim will have on the company. There are many reasons that the company cannot make these assessments, including, among others, one or more of the following: the proceeding is in its early stages (or merely threatened); the damages sought are unspecified, unsupportable, unexplained or uncertain; the claimant is seeking relief other than compensatory damages; the matter presents novel legal claims or other meaningful legal uncertainties; discovery has not started or is not complete; there are significant facts in dispute; and there are other parties who may share in any ultimate liability.
The company and certain related entities have in recent years been subject to various regulatory inquiries, reviews and investigations and legal proceedings, including civil litigation, regulatory investigations and enforcement actions. These actions can arise from normal business operations and/or matters that have been the subject of previous regulatory reviews. As a global company with investment products registered in numerous countries and subject to the jurisdiction of one or more regulators in each country, at any given time, our business operations may be subject to review, investigation, or disciplinary action.
In assessing the impact that a legal or regulatory matter will have on the company, management evaluates the need for an accrual on a case-by-case basis. If the likelihood of a loss is deemed probable and is reasonably estimable, the estimated loss is accrued. If the likelihood of a loss is assessed as less than probable, a loss is not accrued. If a loss is deemed probable but an amount or range of loss cannot be reasonably estimated, a loss is not accrued but the matter is disclosed.
The company accrued a $50.0 million liability in the second quarter in connection with a previously disclosed investigation by the SEC into compliance with electronic business communications recordkeeping requirements and a separate regulatory matter, neither of which is expected to have a material impact on the company.
In management’s opinion, adequate accrual has been made as of June 30, 2024 to provide for any losses that may arise from matters for which the company could reasonably estimate an amount and are deemed probable. Management believes that the ultimate resolution of claims or regulatory matters will not materially affect the company’s business, revenue, net income or liquidity. Further, the investment management industry also is generally subject to extensive levels of ongoing regulatory oversight and examination. In the U.S., United Kingdom (U.K.) and other jurisdictions in which the company operates, governmental authorities regularly make inquiries, hold investigations and administer market conduct examinations with respect to the company’s compliance with applicable laws and regulations. Additional lawsuits or regulatory enforcement actions arising out of these inquiries may in the future be filed against the company, related entities and individuals in the U.S., U.K. and other jurisdictions in which the company and its affiliates operate. Any material loss of investor and/or client confidence as a result of such inquiries and/or litigation could result in a significant decline in assets under management (AUM), which would have an adverse effect on the company’s future financial results and its ability to grow its business.
|
| X |
- References
+ Details
| Name: |
us-gaap_CommitmentsAndContingenciesDisclosureAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 405
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/405-30/tableOfContent
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 440
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482648/440-10-50-4
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 450
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/450/tableOfContent
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 954
-SubTopic 440
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478522/954-440-50-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 440
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482648/440-10-50-4
Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 440
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/440/tableOfContent
| Name: |
us-gaap_CommitmentsAndContingenciesDisclosureTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
CONSOLIDATED INVESTMENT PRODUCTS
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Consolidated Investment Products [Abstract] |
|
| CONSOLIDATED INVESTMENT PRODUCTS |
CONSOLIDATED INVESTMENT PRODUCTS The balances related to CIP are identified on the Consolidated Balance Sheets. At June 30, 2024, the company’s net investment in and net receivables from CIP were $415.3 million (December 31, 2023: $546.2 million). The consolidation of CIP had no impact on net income attributable to the company during the three and six months ended June 30, 2024.
The following tables present the fair value hierarchy levels of certain CIP balances which are measured at fair value as of June 30, 2024 and December 31, 2023:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of June 30, 2024 | | (in millions) | Fair Value Measurements | | Quoted Prices in Active Markets for Identical Assets (Level 1) | | Significant Other Observable Inputs
(Level 2) | | Significant Unobservable Inputs
(Level 3) | | Investments Measured at NAV as a practical expedient | | Assets: | | | | | | | | | | | | | | | | | | | | | Bank loans | $ | 6,069.8 | | | $ | — | | | $ | 5,819.3 | | | $ | 250.5 | | | $ | — | | | Bonds | 608.1 | | | 7.7 | | | 600.1 | | | 0.3 | | | — | | | Equity securities | 124.1 | | | 25.2 | | | 21.3 | | | 77.6 | | | — | | | | | | | | | | | | | | | | | | | | | | | Equity and fixed income mutual funds | 120.3 | | | 0.7 | | | 119.6 | | | — | | | — | | | | | | | | | | | | | Investments in other private equity funds | 454.6 | | | — | | | — | | | — | | | 454.6 | | | | | | | | | | | | | Real estate investments | 416.6 | | | — | | | — | | | — | | | 416.6 | | | | | | | | | | | | | | | | | | | | | | | Total assets at fair value | $ | 7,793.5 | | | $ | 33.6 | | | $ | 6,560.3 | | | $ | 328.4 | | | $ | 871.2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2023 | | (in millions) | Fair Value Measurements | | Quoted Prices in Active Markets for Identical Assets (Level 1) | | Significant Other Observable Inputs
(Level 2) | | Significant Unobservable Inputs
(Level 3) | | Investments Measured at NAV as a practical expedient | | Assets: | | | | | | | | | | | | | | | | | | | | | Bank loans | $ | 6,837.2 | | | $ | — | | | $ | 6,140.1 | | | $ | 697.1 | | | $ | — | | | Bonds | 669.8 | | | 13.3 | | | 656.2 | | | 0.3 | | | — | | | Equity securities | 231.9 | | | 85.2 | | | 18.3 | | | 128.4 | | | — | | | | | | | | | | | | | | | | | | | | | | | Equity and fixed income mutual funds | 137.9 | | | 8.0 | | | 129.9 | | | — | | | — | | | | | | | | | | | | | Investments in other private equity funds | 425.5 | | | — | | | — | | | — | | | 425.5 | | | | | | | | | | | | | Real estate investments | 463.6 | | | — | | | — | | | — | | | 463.6 | | | | | | | | | | | | | | | | | | | | | | | Total assets at fair value | $ | 8,765.9 | | | $ | 106.5 | | | $ | 6,944.5 | | | $ | 825.8 | | | $ | 889.1 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
The following table shows a reconciliation of the beginning and ending fair value measurements for level 3 assets using significant unobservable inputs: | | | | | | | | | | | | | Three months ended June 30, | | 2024 | | 2023 | | (in millions) | Level 3 Assets | | Level 3 Assets | | | | | | | | | | Beginning Balance as of April 1 | $ | 1,114.2 | | | $ | 351.3 | | | | | | | | | | | | | | | | | | | | | | | | | | | CIP Purchases | 25.1 | | | 210.4 | | | | | | | | | | | | | | | CIP Sales | (72.0) | | | (28.7) | | | Deconsolidation of CIP | (724.9) | | | — | | | Gains and losses included in the Consolidated Statements of Income | (17.3) | | | 6.4 | | | Transfers from Level 3 into Levels 1 or 2 | (58.1) | | | (112.3) | | | Transfers into Level 3 from Levels 1 or 2 | 61.0 | | | 63.7 | | | Foreign exchange | 0.4 | | | — | | | Ending Balance as of June 30 | $ | 328.4 | | | $ | 490.8 | |
| | | | | | | | | | | | | Six months ended June 30, | | 2024 | | 2023 | | (in millions) | Level 3 Assets | | Level 3 Assets | | | | | | | | | | Beginning Balance as of January 1 | $ | 825.8 | | | $ | 368.6 | | | | | | | | | | | | | | | | | | | | | | | | | | | CIP Purchases | 300.1 | | | 210.5 | | | | | | | | | | | | | | | CIP Sales | (74.2) | | | (42.1) | | | Deconsolidation of CIP | (724.9) | | | (0.6) | | | Gains and losses included in the Consolidated Statements of Income | (19.2) | | | (1.3) | | | Transfers from Level 3 into Levels 1 or 2 | (74.3) | | | (242.5) | | | Transfers into Level 3 from Levels 1 or 2 | 95.6 | | | 195.9 | | | Foreign exchange | (0.5) | | | 2.3 | | | Ending Balance as of June 30 | $ | 328.4 | | | $ | 490.8 | |
Non-consolidated Variable interest entities (VIEs)
At June 30, 2024, the company's risk of loss with respect to VIEs in which the company is not the primary beneficiary included our investment carrying value of $132.4 million (December 31, 2023: $122.9 million) and unfunded capital commitments of $142.9 million (December 31, 2023: $142.5 million).
See the company’s most recently filed Form 10-K for additional disclosures on valuation methodology and fair value.
|
| X |
- DefinitionConsolidated Investment Products
| Name: |
ivz_ConsolidatedInvestmentProductsAbstract |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThis item represents the disclosure of the company's consolidated investment products, including: (1) investment products that are variable interest entities and the company is the primary beneficiary; (2) other partnership entities in which the company is the general partner and is considered to have control, in the absence of simple majority kick-out rights to remove the general partner, simple majority liquidation rights to dissolve the partnership, or any substantive participating rights of the other limited partners; and (3) investment products in which the company has a controlling financial interest.
| Name: |
ivz_ConsolidatedInvestmentProductsDisclosureTextBlock |
| Namespace Prefix: |
ivz_ |
| Data Type: |
dtr-types1:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
RELATED PARTIES
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Related Party Transactions [Abstract] |
|
| RELATED PARTIES |
RELATED PARTIES MassMutual owns approximately 18.1% in common stock of the company and owns substantially all of the outstanding $4.0 billion in perpetual, non-cumulative preferred shares as of June 30, 2024. Based on the level of shares owned by MassMutual and the corresponding customary minority shareholder rights, which includes representation on Invesco’s Board of Directors, the company considers MassMutual a related party.
Additionally, certain managed funds are deemed to be affiliated entities under the related party definition in ASC 850, “Related Party Disclosures.” The majority of the company's Operating revenues and receivables are from Invesco's managed funds. Related parties also include those defined in the company’s proxy statement.
Refer to Note 2, "Fair Value of Assets and Liabilities" and Note 3, "Investments" for more information on balances invested in Invesco affiliated funds.
|
| X |
- DefinitionThe entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent
Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1
| Name: |
us-gaap_RelatedPartyTransactionsDisclosureTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
SUBSEQUENT EVENTS
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Subsequent Events [Abstract] |
|
| SUBSEQUENT EVENTS |
SUBSEQUENT EVENTS On July 22, 2024, the company declared a second quarter 2024 dividend of $0.205 per common share, payable on September 4, 2024, to common shareholders of record at the close of business on August 16, 2024 with an ex-dividend date of August 16, 2024.
On July 22, 2024, the company declared a preferred dividend of $14.75 per preferred share to the holders of preferred shares representing the period from June 1, 2024 through August 31, 2024. The preferred dividend is payable on September 3, 2024.
|
| X |
- References
+ Details
| Name: |
us-gaap_SubsequentEventsAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 855
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/855/tableOfContent
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 855
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483399/855-10-50-2
| Name: |
us-gaap_SubsequentEventsTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
| X |
- ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-K
-Number 229
-Section 402
-Subsection v
-Paragraph 1
| Name: |
ecd_PvpTable |
| Namespace Prefix: |
ecd_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2
Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3
Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8
Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11
Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11
Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4
Reference 17: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-10
Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-7
Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1
Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1
Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3
Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 23: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B
Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7
Reference 34: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28
Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A
Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B
Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1
| Name: |
us-gaap_NetIncomeLoss |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
v3.24.2
| X |
- ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-K
-Number 229
-Section 408
-Subsection a
-Paragraph 1
| Name: |
ecd_NonRule10b51ArrAdoptedFlag |
| Namespace Prefix: |
ecd_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-K
-Number 229
-Section 408
-Subsection a
-Paragraph 1
| Name: |
ecd_NonRule10b51ArrTrmntdFlag |
| Namespace Prefix: |
ecd_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-K
-Number 229
-Section 408
-Subsection a
-Paragraph 1
| Name: |
ecd_Rule10b51ArrAdoptedFlag |
| Namespace Prefix: |
ecd_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-K
-Number 229
-Section 408
-Subsection a
-Paragraph 1
| Name: |
ecd_Rule10b51ArrTrmntdFlag |
| Namespace Prefix: |
ecd_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-K
-Number 229
-Section 408
-Subsection a
-Paragraph 2
-Subparagraph A
| Name: |
ecd_TradingArrByIndTable |
| Namespace Prefix: |
ecd_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
ACCOUNTING POLICIES (Policies)
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Accounting Policies [Abstract] |
|
| Basis of Accounting and Consolidation |
Basis of Accounting and Consolidation The unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) for interim financial information and with rules and regulations of the U.S. Securities and Exchange Commission (SEC) and consolidate the financial statements of the Parent and all of its controlled subsidiaries. In the opinion of management, the Condensed Consolidated Financial Statements reflect all adjustments, consisting of normal recurring accruals, which are necessary for the fair presentation of the financial condition and results of operations for the periods presented. All significant intercompany transactions, balances, revenues and expenses are eliminated upon consolidation. The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates.
|
| Reclassifications |
Reclassifications
Beginning in the quarter ended March 31, 2024, expenses for client-related travel and entertainment and outsourced services were reclassified to General and administrative expenses. The impact of this reclassification on the Consolidated Statements of Income is as follows:
• For the three months ended June 30, 2024: decreased Marketing and Property, office and technology expenses by $7.7 million and $22.8 million, respectively, and increased General and administrative by $30.5 million.
• For the three months ended June 30, 2023: decreased Marketing and Property, office and technology expenses by $5.9 million and $24.4 million, respectively, and increased General and administrative by $30.3 million.
• For the six months ended June 30, 2024: decreased Marketing and Property, office and technology expenses by $14.4 million and $46.4 million, respectively, and increased General and administrative by $60.8 million.
• For the six months ended June 30, 2023: decreased Marketing and Property, office and technology expenses by $11.3 million and $48.3 million, respectively, and increased General and administrative by $59.6 million.
The reclassification had no impact on our reported Operating revenues, Operating income, Net income, or any internal performance measure on which management is compensated.
|
| Accounting Pronouncements Recently Adopted and Pending Accounting Pronouncements |
Accounting Pronouncements Recently Adopted
None.
Pending Accounting Pronouncements
Refer to the most recent Form 10-K filed with the SEC.
|
| X |
- References
+ Details
| Name: |
us-gaap_AccountingPoliciesAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionDisclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483426/235-10-50-4
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-1
| Name: |
us-gaap_ConsolidationPolicyTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionDisclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact.
| Name: |
us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionDisclosure of accounting policy for reclassification affecting comparability of financial statement. Excludes amendment to accounting standards, other change in accounting principle, and correction of error. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 205
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483504/205-10-50-1
| Name: |
us-gaap_PriorPeriodReclassificationAdjustmentDescription |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
FAIR VALUE OF ASSETS AND LIABILITIES (Tables)
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Fair Value Disclosures [Abstract] |
|
| Fair Value by Balance Sheet Grouping |
The fair value of financial instruments is presented in the below summary table. The fair value of financial instruments held by CIP are presented in Note 11, "Consolidated Investment Products." See the company’s most recently filed Form 10-K for additional disclosures on valuation methodology and fair value.
| | | | | | | | | | | | | | | June 30, 2024 | | December 31, 2023 | | (in millions) | | Fair Value | | Fair Value | | Cash and cash equivalents | | $ | 878.5 | | | $ | 1,469.2 | | | | | | | | Equity investments | | 320.3 | | | 272.4 | | | | | | | | | | | | | Assets held for policyholders | | — | | | 393.9 | | Policyholder payables (1) | | — | | | (393.9) | | | Total return swap related to deferred compensation plans | | 6.9 | | | 4.9 | | | | | | |
____________ (1) These financial instruments are not measured at fair value on a recurring basis. Policyholder payables were indexed to the value of the assets held for policyholders and changes in fair value were recorded and offset to zero in other operating revenues. In January 2024, all funds were distributed to customers.
|
| Tri-Level Hierarchy, Carrying Value |
The following table presents, by hierarchy levels, the carrying value of the company’s assets and liabilities, including major security type for equity investments, which are measured at fair value on the company’s Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023, respectively:
| | | | | | | | | | | | | | | | | | | | | | | | | As of June 30, 2024 | | (in millions) | Fair Value Measurements | | Quoted Prices in Active Markets for Identical Assets
(Level 1) | | Significant Other Observable Inputs
(Level 2) | | Significant Unobservable Inputs
(Level 3) | | Assets: | | | | | | | | | Cash equivalents: | | | | | | | | Money market funds (1) | $ | 430.8 | | | $ | 430.8 | | | $ | — | | | $ | — | | Investments: (2) | | | | | | | | | Equity investments: | | | | | | | | | Seed capital | 106.1 | | | 106.1 | | | — | | | — | | | Investments related to deferred compensation plans | 214.2 | | | 214.2 | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total return swap related to deferred compensation plans | 6.9 | | | — | | | 6.9 | | | — | | | Total | $ | 758.0 | | | $ | 751.1 | | | $ | 6.9 | | | $ | — | | | Liabilities: | | | | | | | | | | | | | | | | | Contingent consideration liability | $ | (1.3) | | | $ | — | | | $ | — | | | $ | (1.3) | | | Total | $ | (1.3) | | | $ | — | | | $ | — | | | $ | (1.3) | |
| | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2023 | | (in millions) | Fair Value Measurements | | Quoted Prices in Active Markets for Identical Assets
(Level 1) | | Significant Other Observable Inputs
(Level 2) | | Significant Unobservable Inputs
(Level 3) | | Assets: | | | | | | | | | Cash equivalents: | | | | | | | | Money market funds (1) | $ | 927.8 | | | $ | 927.8 | | | $ | — | | | $ | — | | Investments (2): | | | | | | | | | Equity investments: | | | | | | | | | Seed capital | 75.7 | | | 75.7 | | | — | | | — | | | Investments related to deferred compensation plans | 196.7 | | | 196.7 | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Assets held for policyholders (3) | 393.9 | | | 393.9 | | | — | | | — | | | Total return swap related to deferred compensation plans | 4.9 | | | — | | | 4.9 | | | — | | | Total | $ | 1,599.0 | | | $ | 1,594.1 | | | $ | 4.9 | | | $ | — | | | Liabilities: | | | | | | | | | | | | | | | | | Contingent consideration liability | $ | (1.3) | | | $ | — | | | $ | — | | | $ | (1.3) | | | Total | $ | (1.3) | | | $ | — | | | $ | — | | | $ | (1.3) | |
____________ (1) The balance primarily represents cash held in affiliated money market funds. (2) Equity method and other investments of $644.9 million and $14.8 million, respectively, are excluded from this table (December 31, 2023: $631.8 million and $14.9 million, respectively). These investments are not measured at fair value, in accordance with applicable accounting standards. (3) The majority of Assets held for policyholders were held in affiliated funds.
|
| X |
- DefinitionTabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11
| Name: |
us-gaap_FairValueByBalanceSheetGroupingTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_FairValueDisclosuresAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
| Name: |
us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
INVESTMENTS (Tables)
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Investments [Abstract] |
|
| Marketable Securities |
The disclosures below include details of the company’s investments. Investments held by CIP are detailed in Note 11, "Consolidated Investment Products."
| | | | | | | | | | | | | (in millions) | June 30, 2024 | | December 31, 2023 | | Equity investments: | | | | | Seed capital | $ | 106.1 | | | $ | 75.7 | | | Investments related to deferred compensation plans | 214.2 | | | 196.7 | | | | | | | | | | | | | | | | | | | Equity method investments | 644.9 | | | 631.8 | | | | | | | Other | 14.8 | | | 14.9 | | Total investments (1) | $ | 980.0 | | | $ | 919.1 | |
_________(1) The majority of the company’s investment balances relate to balances held in affiliated funds and equity method investees.
|
| X |
- References
+ Details
| Name: |
us-gaap_InvestmentsAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.
| Name: |
us-gaap_MarketableSecuritiesTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
DEBT (Tables)
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Debt Disclosure [Abstract] |
|
| Schedule of Long-Term Debt Instruments |
The disclosures below include details of the company’s debt. Debt of CIP is detailed in Note 11, "Consolidated Investment Products."
| | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2024 | | December 31, 2023 | | (in millions) | Carrying Value (3) | | Fair Value | | Carrying Value (3) | | Fair Value | $2.0 billion floating rate credit agreement expiring April 26, 2028 | $ | — | | | $ | — | | | $ | — | | | $ | — | | Unsecured Senior Notes: (1) | | | | | | | | | | | | | | | | $600 million 4.000% - due January 30, 2024 (2) | — | | | — | | | 599.9 | | | 599.1 | | $500 million 3.750% - due January 15, 2026 | 498.9 | | | 489.7 | | | 498.6 | | | 489.1 | | $400 million 5.375% - due November 30, 2043 | 391.2 | | | 380.9 | | | 391.0 | | | 409.6 | | | Debt | $ | 890.1 | | | $ | 870.6 | | | $ | 1,489.5 | | | $ | 1,497.8 | |
____________ (1) The company’s senior note indentures contain certain restrictions on mergers or consolidations. Beyond these items, there are no other restrictive covenants in the indentures. (2) On January 30, 2024, the outstanding balance of the $600.0 million senior notes was paid in full. (3) The difference between the principal amounts and the carrying values of the senior notes in the table above reflect the unamortized debt issuance costs and discounts.
|
| X |
- References
+ Details
| Name: |
us-gaap_DebtDisclosureAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B
Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E
Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2
Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3
Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-8
Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6
Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7
| Name: |
us-gaap_ScheduleOfDebtInstrumentsTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
SHARE CAPITAL (Tables)
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Equity [Abstract] |
|
| Movements in Shares Issued and Outstanding |
The number of preferred shares issued and outstanding is represented in the table below:
| | | | | | | | | | | | | As of | | (in millions) | June 30, 2024 | | December 31, 2023 | Preferred shares issued (1) | 4.0 | | 4.0 | | | | | | Preferred shares outstanding (1) | 4.0 | | 4.0 | |
____________(1) Substantially all the preferred shares are held by Massachusetts Mutual Life Insurance Company (MassMutual). The five-year lock-up period which prohibited the sale of the preferred shares by MassMutual expired on May 24, 2024.
The number of common shares and common share equivalents issued are represented in the table below:
| | | | | | | | | | | | | As of | | (in millions) | June 30, 2024 | | December 31, 2023 | | | | | | | | | | Common shares issued | 566.1 | | | 566.1 | | Less: Treasury shares for which dividend and voting rights do not apply | (116.1) | | | (116.6) | | | Common shares outstanding | 450.0 | | | 449.5 | |
|
| X |
- DefinitionSchedule of Stock and Treasury Stock [Table Text Block]
| Name: |
ivz_ScheduleOfStockAndTreasuryStockTableTextBlock |
| Namespace Prefix: |
ivz_ |
| Data Type: |
dtr-types1:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_EquityAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
OTHER COMPREHENSIVE INCOME/(LOSS) (Tables)
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Equity [Abstract] |
|
| Accumulated Other Comprehensive Income/(Loss) |
The components of accumulated other comprehensive income/(loss) were as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, 2024 | | Three months ended June 30, 2023 | | | | | (in millions) | Foreign currency translation | | Employee benefit plans | | | | | | Total | | Foreign currency translation | | Employee benefit plans | | Total | | | | | | | | | Other comprehensive income/(loss), net of tax: | | | | | | | | | | | | | | | | | | | | | | | Currency translation differences on investments in foreign subsidiaries | $ | (25.8) | | | $ | — | | | | | | | $ | (25.8) | | | $ | 63.8 | | | $ | — | | | $ | 63.8 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Other comprehensive income/(loss), net | — | | | 1.0 | | | | | | | 1.0 | | | — | | | 0.8 | | | 0.8 | | | | | | | | | | Other comprehensive income/(loss), net of tax | (25.8) | | | 1.0 | | | | | | | (24.8) | | | 63.8 | | | 0.8 | | | 64.6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Beginning balance | (766.4) | | | (130.7) | | | | | | | (897.1) | | | (759.9) | | | (123.0) | | | (882.9) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Other comprehensive income/(loss), net of tax | (25.8) | | | 1.0 | | | | | | | (24.8) | | | 63.8 | | | 0.8 | | | 64.6 | | | | | | | | | | Ending balance | $ | (792.2) | | | $ | (129.7) | | | | | | | $ | (921.9) | | | $ | (696.1) | | | $ | (122.2) | | | $ | (818.3) | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six months ended June 30, 2024 | | Six months ended June 30, 2023 | | (in millions) | Foreign currency translation | | Employee benefit plans | | | | | | Total | | Foreign currency translation | | Employee benefit plans | | Total | | Other comprehensive income/(loss), net of tax: | | | | | | | | | | | | | | | | Currency translation differences on investments in foreign subsidiaries | $ | (122.1) | | | $ | — | | | | | | | $ | (122.1) | | | $ | 118.9 | | | $ | — | | | $ | 118.9 | | | | | | | | | | | | | | | | | | | Other comprehensive income/(loss), net | — | | | 2.0 | | | | | | | 2.0 | | | — | | | 5.2 | | | 5.2 | | | Other comprehensive income/(loss), net of tax | (122.1) | | | 2.0 | | | | | | | (120.1) | | | 118.9 | | | 5.2 | | | 124.1 | | | | | | | | | | | | | | | | | | | Beginning balance | (670.1) | | | (131.7) | | | | | | | (801.8) | | | (815.0) | | | (127.4) | | | (942.4) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Other comprehensive income/(loss), net of tax | (122.1) | | | 2.0 | | | | | | | (120.1) | | | 118.9 | | | 5.2 | | | 124.1 | | | Ending balance | $ | (792.2) | | | $ | (129.7) | | | | | | | $ | (921.9) | | | $ | (696.1) | | | $ | (122.2) | | | $ | (818.3) | |
|
| X |
- References
+ Details
| Name: |
us-gaap_EquityAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTabular disclosure of the components of accumulated other comprehensive income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-14A
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481674/830-30-50-1
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20
| Name: |
us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
REVENUE (Tables)
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Revenue from Contract with Customer [Abstract] |
|
| Geographic Disaggregation of Revenue |
The geographic disaggregation of revenue for the three and six months ended June 30, 2024 and 2023 are presented below. There are no revenues attributed to the company’s country of domicile, Bermuda.
| | | | | | | | | | | | | Three months ended June 30, | | (in millions) | 2024 | | 2023 | | Americas | $ | 1,145.5 | | | $ | 1,108.1 | | | Asia-Pacific (APAC) | 62.1 | | 63.7 | | Europe, Middle East and Africa (EMEA) | 275.7 | | 271.0 | | | | | | Total operating revenues | $ | 1,483.3 | | | $ | 1,442.8 | |
| | | | | | | | | | | | | Six months ended June 30, | | (in millions) | 2024 | | 2023 | | Americas | $ | 2,286.1 | | | $ | 2,191.5 | | | Asia-Pacific (APAC) | 130.8 | | 133.6 | | Europe, Middle East and Africa (EMEA) | 541.7 | | 535.9 | | | | | | Total operating revenues | $ | 2,958.6 | | | $ | 2,861.0 | |
|
| X |
- References
+ Details
| Name: |
us-gaap_RevenueFromContractWithCustomerAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTabular disclosure of the extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer.
| Name: |
us-gaap_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
COMMON SHARE-BASED COMPENSATION (Tables)
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| Movements of Share Awards |
Movements on employee common share awards during the periods ended June 30 are detailed below:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six months ended June 30, 2024 | | Six months ended June 30, 2023 | | (in millions of common shares, except fair values) | Time- Vested | | Performance- Vested | | Weighted Average Grant Date Fair Value | | Time- Vested | | Performance- Vested | | | Unvested at the beginning of period | 10.4 | | | 1.6 | | | $ | 18.84 | | | 10.3 | | | 2.1 | | | | | Granted during the period | 4.9 | | | 0.9 | | | 15.13 | | | 4.3 | | | 0.7 | | | | | Forfeited during the period | (0.4) | | | (0.1) | | | 17.91 | | | (0.1) | | | (0.2) | | | | Vested and distributed during the period | (4.6) | | | (0.5) | | | 18.29 | | | (4.8) | | | (0.5) | | | | Unvested at the end of the period | 10.3 | | | 1.9 | | | $ | 17.37 | | | 9.7 | | | 2.1 | | | |
|
| X |
- DefinitionTabular disclosure of share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2
| Name: |
us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
EARNINGS PER COMMON SHARE (Tables)
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Earnings Per Share [Abstract] |
|
| Calculation of Earnings Per Share |
The calculation of earnings per common share (EPS) is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30 | | | | | | | (in millions, except per share data) | 2024 | | 2023 | | 2024 | | 2023 | | | | | | | | | Net income attributable to Invesco Ltd. | $ | 132.2 | | | $ | 132.2 | | | $ | 273.7 | | | $ | 277.2 | | | | | | | | | | | | | | | | | | | | | | | | | Invesco Ltd: | | | | | | | | | | | | | | | | Weighted average common shares outstanding - basic | 455.5 | | | 457.9 | | | 457.1 | | | 458.0 | | | | | | | | | | Dilutive effect of non-participating common share-based awards | 0.6 | | | 0.9 | | | 0.4 | | | 0.9 | | | | | | | | | | Weighted average common shares outstanding - diluted | 456.1 | | | 458.8 | | | 457.5 | | | 458.9 | | | | | | | | | | | | | | | | | | | | | | | | | Earnings per common share: | | | | | | | | | | | | | | | | -basic | $ | 0.29 | | | $ | 0.29 | | | $ | 0.60 | | | $ | 0.61 | | | | | | | | | | -diluted | $ | 0.29 | | | $ | 0.29 | | | $ | 0.60 | | | $ | 0.60 | | | | | | | | |
|
| X |
- References
+ Details
| Name: |
us-gaap_EarningsPerShareAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1
| Name: |
us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
CONSOLIDATED INVESTMENT PRODUCTS (Tables)
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Consolidated Investment Products [Abstract] |
|
| Fair Value Hierarchy Levels of Investments Held and Notes Issued by Consolidated Investment Products |
The following tables present the fair value hierarchy levels of certain CIP balances which are measured at fair value as of June 30, 2024 and December 31, 2023:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of June 30, 2024 | | (in millions) | Fair Value Measurements | | Quoted Prices in Active Markets for Identical Assets (Level 1) | | Significant Other Observable Inputs
(Level 2) | | Significant Unobservable Inputs
(Level 3) | | Investments Measured at NAV as a practical expedient | | Assets: | | | | | | | | | | | | | | | | | | | | | Bank loans | $ | 6,069.8 | | | $ | — | | | $ | 5,819.3 | | | $ | 250.5 | | | $ | — | | | Bonds | 608.1 | | | 7.7 | | | 600.1 | | | 0.3 | | | — | | | Equity securities | 124.1 | | | 25.2 | | | 21.3 | | | 77.6 | | | — | | | | | | | | | | | | | | | | | | | | | | | Equity and fixed income mutual funds | 120.3 | | | 0.7 | | | 119.6 | | | — | | | — | | | | | | | | | | | | | Investments in other private equity funds | 454.6 | | | — | | | — | | | — | | | 454.6 | | | | | | | | | | | | | Real estate investments | 416.6 | | | — | | | — | | | — | | | 416.6 | | | | | | | | | | | | | | | | | | | | | | | Total assets at fair value | $ | 7,793.5 | | | $ | 33.6 | | | $ | 6,560.3 | | | $ | 328.4 | | | $ | 871.2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2023 | | (in millions) | Fair Value Measurements | | Quoted Prices in Active Markets for Identical Assets (Level 1) | | Significant Other Observable Inputs
(Level 2) | | Significant Unobservable Inputs
(Level 3) | | Investments Measured at NAV as a practical expedient | | Assets: | | | | | | | | | | | | | | | | | | | | | Bank loans | $ | 6,837.2 | | | $ | — | | | $ | 6,140.1 | | | $ | 697.1 | | | $ | — | | | Bonds | 669.8 | | | 13.3 | | | 656.2 | | | 0.3 | | | — | | | Equity securities | 231.9 | | | 85.2 | | | 18.3 | | | 128.4 | | | — | | | | | | | | | | | | | | | | | | | | | | | Equity and fixed income mutual funds | 137.9 | | | 8.0 | | | 129.9 | | | — | | | — | | | | | | | | | | | | | Investments in other private equity funds | 425.5 | | | — | | | — | | | — | | | 425.5 | | | | | | | | | | | | | Real estate investments | 463.6 | | | — | | | — | | | — | | | 463.6 | | | | | | | | | | | | | | | | | | | | | | | Total assets at fair value | $ | 8,765.9 | | | $ | 106.5 | | | $ | 6,944.5 | | | $ | 825.8 | | | $ | 889.1 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
| Beginning And Ending Fair Value Measurements For Level Three Assets And Liabilities Table Text Block |
The following table shows a reconciliation of the beginning and ending fair value measurements for level 3 assets using significant unobservable inputs: | | | | | | | | | | | | | Three months ended June 30, | | 2024 | | 2023 | | (in millions) | Level 3 Assets | | Level 3 Assets | | | | | | | | | | Beginning Balance as of April 1 | $ | 1,114.2 | | | $ | 351.3 | | | | | | | | | | | | | | | | | | | | | | | | | | | CIP Purchases | 25.1 | | | 210.4 | | | | | | | | | | | | | | | CIP Sales | (72.0) | | | (28.7) | | | Deconsolidation of CIP | (724.9) | | | — | | | Gains and losses included in the Consolidated Statements of Income | (17.3) | | | 6.4 | | | Transfers from Level 3 into Levels 1 or 2 | (58.1) | | | (112.3) | | | Transfers into Level 3 from Levels 1 or 2 | 61.0 | | | 63.7 | | | Foreign exchange | 0.4 | | | — | | | Ending Balance as of June 30 | $ | 328.4 | | | $ | 490.8 | |
| | | | | | | | | | | | | Six months ended June 30, | | 2024 | | 2023 | | (in millions) | Level 3 Assets | | Level 3 Assets | | | | | | | | | | Beginning Balance as of January 1 | $ | 825.8 | | | $ | 368.6 | | | | | | | | | | | | | | | | | | | | | | | | | | | CIP Purchases | 300.1 | | | 210.5 | | | | | | | | | | | | | | | CIP Sales | (74.2) | | | (42.1) | | | Deconsolidation of CIP | (724.9) | | | (0.6) | | | Gains and losses included in the Consolidated Statements of Income | (19.2) | | | (1.3) | | | Transfers from Level 3 into Levels 1 or 2 | (74.3) | | | (242.5) | | | Transfers into Level 3 from Levels 1 or 2 | 95.6 | | | 195.9 | | | Foreign exchange | (0.5) | | | 2.3 | | | Ending Balance as of June 30 | $ | 328.4 | | | $ | 490.8 | |
|
| X |
- DefinitionBeginning And Ending Fair Value Measurements For Level Three Assets And Liabilities Table Text Block
| Name: |
ivz_BeginningAndEndingFairValueMeasurementsForLevelThreeAssetsAndLiabilitiesTableTextBlockTableTextBlock |
| Namespace Prefix: |
ivz_ |
| Data Type: |
dtr-types1:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionConsolidated Investment Products
| Name: |
ivz_ConsolidatedInvestmentProductsAbstract |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionFair Value Hierarchy Levels Of Investments Held And Notes Issued By Consolidated Investment Products [Table Text Block]
| Name: |
ivz_FairValueHierarchyLevelsOfInvestmentsHeldAndNotesIssuedByConsolidatedInvestmentProductsTableTextBlock |
| Namespace Prefix: |
ivz_ |
| Data Type: |
dtr-types1:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
| X |
- DefinitionThe aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1
| Name: |
us-gaap_GeneralAndAdministrativeExpense |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionExpenditures for planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services. Costs of public relations and corporate promotions are typically considered to be marketing costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2
| Name: |
us-gaap_MarketingExpense |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- Details
| Name: |
us-gaap_ReclassificationTypeAxis=ivz_ReclassificationAdjustmentsMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
v3.24.2
FAIR VALUE OF ASSETS AND LIABILITIES - Fair Value of Financial Instruments Held by Consolidated Investments (Details) - USD ($)
$ in Millions |
Jun. 30, 2024 |
Dec. 31, 2023 |
Jun. 30, 2023 |
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |
|
|
|
| Cash and cash equivalents |
$ 878.5
|
$ 1,469.2
|
$ 1,009.9
|
| Assets held for policyholders |
0.0
|
393.9
|
|
| Policyholder payables |
0.0
|
(393.9)
|
|
| Fair Value |
|
|
|
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |
|
|
|
| Cash and cash equivalents |
878.5
|
1,469.2
|
|
| Equity investments |
320.3
|
272.4
|
|
| Assets held for policyholders |
0.0
|
393.9
|
|
| Policyholder payables |
0.0
|
(393.9)
|
|
| Fair Value | Total return swaps related to deferred compensation plans |
|
|
|
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |
|
|
|
| Total return swap related to deferred compensation plans |
$ 6.9
|
$ 4.9
|
|
| X |
- DefinitionAmount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483467/210-10-45-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-4
| Name: |
us-gaap_CashAndCashEquivalentsAtCarryingValue |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionFair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6
Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1
Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1
Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6
Reference 16: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6
Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(9)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1
Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5C
-Subparagraph (SX 210.12-13C(Column H)(Footnote 7))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5C
Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(9)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1
Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(9)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1
Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SX 210.12-13(Column G)(Footnote 8))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5
Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5C
-Subparagraph (SX 210.12-13C(Column H))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5C
Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SX 210.12-13(Column G))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5
Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5A
-Subparagraph (SX 210.12-13A(Column E))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5A
Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5B
-Subparagraph (SX 210.12-13B(Column E))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5B
Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5B
-Subparagraph (SX 210.12-13B(Column E)(Footnote 4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5B
Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483466/210-20-50-3
Reference 28: http://www.xbrl.org/2003/role/exampleRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-22
Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-10
Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-10
| Name: |
us-gaap_DerivativeLiabilities |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
| Name: |
us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of asset at fair value held for benefit of separate account policyholder. Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480078/944-80-55-17
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480078/944-80-55-14
Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480078/944-80-55-9
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480109/944-80-50-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480141/944-80-45-1
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(11))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480141/944-80-45-2
| Name: |
us-gaap_SeparateAccountAssets |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount of liability for variable contract in which all or portion of contract holder's funds is allocated to specific separate account and supported by assets held in separate account. Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480078/944-80-55-9
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480141/944-80-45-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480109/944-80-50-2
Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 18
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480078/944-80-55-18
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480109/944-80-50-2
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480141/944-80-45-2
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(18))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
| Name: |
us-gaap_SeparateAccountsLiability |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount of investments including trading securities, available-for-sale securities, held-to-maturity securities, and short-term investments classified as other and current. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(8))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
| Name: |
us-gaap_ShortTermInvestments |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- Details
| Name: |
us-gaap_FairValueByMeasurementBasisAxis=us-gaap_EstimateOfFairValueFairValueDisclosureMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
us-gaap_DerivativeInstrumentRiskAxis=us-gaap_TotalReturnSwapMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
v3.24.2
| X |
- DefinitionFair value portion of asset recognized for present right to economic benefit. Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
| Name: |
us-gaap_AssetsFairValueDisclosure |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- References
+ Details
| Name: |
us-gaap_CashAndCashEquivalentsAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionFair value portion of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
| Name: |
us-gaap_CashAndCashEquivalentsFairValueDisclosure |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionFair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-12
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6
Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 55
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477439/946-210-55-1
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6
Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6
Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1
Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1
Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1
Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1
Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6
Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6
Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(3)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1
Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5C
-Subparagraph (SX 210.12-13C(Column H)(Footnote 7))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5C
Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(3)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1
Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SX 210.12-13(Column A)(Footnote 3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5
Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5C
-Subparagraph (SX 210.12-13C(Column H))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5C
Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5A
-Subparagraph (SX 210.12-13A(Column E))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5A
Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5B
-Subparagraph (SX 210.12-13B(Column E))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5B
Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5B
-Subparagraph (SX 210.12-13B(Column E)(Footnote 4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5B
Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483466/210-20-50-3
Reference 30: http://www.xbrl.org/2003/role/exampleRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-22
Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-10
Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-10
| Name: |
us-gaap_DerivativeAssets |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionThis item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481664/323-10-45-1
Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(10))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 25
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25
| Name: |
us-gaap_EquityMethodInvestments |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionFair value of obligations measured on a recurring basis. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
| Name: |
us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisObligations |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- References
+ Details
| Name: |
us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_LiabilitiesAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionFair value of financial and nonfinancial obligations. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
| Name: |
us-gaap_LiabilitiesFairValueDisclosure |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount of investments classified as other. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(12))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(3)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
| Name: |
us-gaap_OtherInvestments |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount of asset at fair value held for benefit of separate account policyholder. Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480078/944-80-55-17
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480078/944-80-55-14
Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480078/944-80-55-9
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480109/944-80-50-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480141/944-80-45-1
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(11))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480141/944-80-45-2
| Name: |
us-gaap_SeparateAccountAssets |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount of investments including trading securities, available-for-sale securities, held-to-maturity securities, and short-term investments classified as other and current. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(8))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
| Name: |
us-gaap_ShortTermInvestments |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- Details
| Name: |
us-gaap_FairValueByLiabilityClassAxis=us-gaap_LiabilityMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
us-gaap_FairValueByAssetClassAxis=us-gaap_MoneyMarketFundsMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
us-gaap_FairValueByAssetClassAxis=ivz_SeedCapitalMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
us-gaap_FairValueByAssetClassAxis=ivz_DeferredCompensationArrangementsMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
v3.24.2
| X |
- DefinitionFair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-12
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6
Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 55
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477439/946-210-55-1
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6
Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6
Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1
Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1
Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1
Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1
Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6
Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6
Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(3)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1
Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5C
-Subparagraph (SX 210.12-13C(Column H)(Footnote 7))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5C
Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(3)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1
Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SX 210.12-13(Column A)(Footnote 3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5
Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5C
-Subparagraph (SX 210.12-13C(Column H))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5C
Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5A
-Subparagraph (SX 210.12-13A(Column E))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5A
Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5B
-Subparagraph (SX 210.12-13B(Column E))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5B
Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5B
-Subparagraph (SX 210.12-13B(Column E)(Footnote 4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5B
Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483466/210-20-50-3
Reference 30: http://www.xbrl.org/2003/role/exampleRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-22
Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-10
Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-10
| Name: |
us-gaap_DerivativeAssets |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionNominal or face amount used to calculate payment on derivative. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A
| Name: |
us-gaap_DerivativeNotionalAmount |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3
| Name: |
us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe increase (decrease) during the period in the net carrying value of derivative instruments reported as assets and liabilities that are due to be disposed of within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28
| Name: |
us-gaap_IncreaseDecreaseInDerivativeAssetsAndLiabilities |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- Details
| Name: |
us-gaap_DerivativeInstrumentRiskAxis=us-gaap_TotalReturnSwapMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
v3.24.2
| X |
- DefinitionThis item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481664/323-10-45-1
Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(10))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 25
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25
| Name: |
us-gaap_EquityMethodInvestments |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionSum of the carrying amounts as of the balance sheet date of all investments. Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480078/944-80-55-14
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480078/944-80-55-9
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(1)(h))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(1)(6))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
| Name: |
us-gaap_Investments |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- References
+ Details
| Name: |
us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of investments classified as other. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(12))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(3)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
| Name: |
us-gaap_OtherInvestments |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount of investments including trading securities, available-for-sale securities, held-to-maturity securities, and short-term investments classified as other and current. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(8))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
| Name: |
us-gaap_ShortTermInvestments |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- Details
| Name: |
us-gaap_InvestmentTypeAxis=ivz_SeedCapitalMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
us-gaap_InvestmentTypeAxis=ivz_DeferredCompensationArrangementsMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
v3.24.2
INVESTMENTS - Narrative (Details) - USD ($)
$ in Millions |
3 Months Ended |
6 Months Ended |
Jun. 30, 2024 |
Jun. 30, 2023 |
Jun. 30, 2024 |
Jun. 30, 2023 |
| Investments [Abstract] |
|
|
|
|
| Net gains |
$ 13.2
|
$ 9.6
|
$ 19.8
|
$ 22.9
|
| X |
- References
+ Details
| Name: |
us-gaap_InvestmentsAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of unrealized gain (loss) on investment. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Subparagraph (b)
-SubTopic 10
-Topic 230
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28
| Name: |
us-gaap_UnrealizedGainLossOnInvestments |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
v3.24.2
DEBT (Details) - USD ($)
$ in Millions |
Jun. 30, 2024 |
Jan. 30, 2024 |
Dec. 31, 2023 |
| Unsecured Senior Notes | $600 million 4.000% - due January 30, 2024 |
|
|
|
| Debt Instrument [Line Items] |
|
|
|
| Debt instrument, face amount |
$ 600.0
|
$ 600.0
|
|
| Debt instrument, interest rate, stated percentage |
4.00%
|
|
|
| Unsecured Senior Notes | $500 million 3.750% - due January 15, 2026 |
|
|
|
| Debt Instrument [Line Items] |
|
|
|
| Debt instrument, face amount |
$ 500.0
|
|
|
| Debt instrument, interest rate, stated percentage |
3.75%
|
|
|
| Unsecured Senior Notes | $400 million 5.375% - due November 30, 2043 |
|
|
|
| Debt Instrument [Line Items] |
|
|
|
| Debt instrument, face amount |
$ 400.0
|
|
|
| Debt instrument, interest rate, stated percentage |
5.375%
|
|
|
| Carrying Value |
|
|
|
| Debt Instrument [Line Items] |
|
|
|
| Long-term debt |
$ 890.1
|
|
$ 1,489.5
|
| Carrying Value | Unsecured Senior Notes | $600 million 4.000% - due January 30, 2024 |
|
|
|
| Debt Instrument [Line Items] |
|
|
|
| Long-term debt |
0.0
|
|
599.9
|
| Carrying Value | Unsecured Senior Notes | $500 million 3.750% - due January 15, 2026 |
|
|
|
| Debt Instrument [Line Items] |
|
|
|
| Long-term debt |
498.9
|
|
498.6
|
| Carrying Value | Unsecured Senior Notes | $400 million 5.375% - due November 30, 2043 |
|
|
|
| Debt Instrument [Line Items] |
|
|
|
| Long-term debt |
391.2
|
|
391.0
|
| Carrying Value | Floating rate credit facility |
|
|
|
| Debt Instrument [Line Items] |
|
|
|
| Credit facility capacity |
2,000.0
|
|
|
| Line of credit facility, amount outstanding |
0.0
|
|
0.0
|
| Fair Value |
|
|
|
| Debt Instrument [Line Items] |
|
|
|
| Long-term debt |
870.6
|
|
1,497.8
|
| Fair Value | Unsecured Senior Notes | $600 million 4.000% - due January 30, 2024 |
|
|
|
| Debt Instrument [Line Items] |
|
|
|
| Long-term debt |
0.0
|
|
599.1
|
| Fair Value | Unsecured Senior Notes | $500 million 3.750% - due January 15, 2026 |
|
|
|
| Debt Instrument [Line Items] |
|
|
|
| Long-term debt |
489.7
|
|
489.1
|
| Fair Value | Unsecured Senior Notes | $400 million 5.375% - due November 30, 2043 |
|
|
|
| Debt Instrument [Line Items] |
|
|
|
| Long-term debt |
380.9
|
|
409.6
|
| Fair Value | Floating rate credit facility |
|
|
|
| Debt Instrument [Line Items] |
|
|
|
| Line of credit facility, amount outstanding |
$ 0.0
|
|
$ 0.0
|
| X |
- DefinitionFace (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482949/835-30-55-8
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B
Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B
Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482900/835-30-50-1
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2
| Name: |
us-gaap_DebtInstrumentFaceAmount |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionContractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(a)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B
| Name: |
us-gaap_DebtInstrumentInterestRateStatedPercentage |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:percentItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482949/835-30-55-8
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(f))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B
Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B
Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C
Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E
Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69F
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69F
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B
Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B
Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B
Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D
Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D
Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D
Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E
Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E
Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E
Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F
Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F
Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F
Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F
Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I
Reference 26: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2
Reference 27: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482900/835-30-50-1
| Name: |
us-gaap_DebtInstrumentLineItems |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(16))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(16)(a)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
| Name: |
us-gaap_LineOfCredit |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionMaximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(19)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
| Name: |
us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionThe fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2
| Name: |
us-gaap_LongTermDebtFairValue |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- Details
| Name: |
us-gaap_LongtermDebtTypeAxis=us-gaap_UnsecuredDebtMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
us-gaap_DebtInstrumentAxis=ivz_SeniorNotesDueJanuary302024Member |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
us-gaap_DebtInstrumentAxis=ivz_SeniorNotesDueJanuary152026MemberMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
us-gaap_DebtInstrumentAxis=ivz_SeniorNotesDueNovember302043Member |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
us-gaap_FairValueByMeasurementBasisAxis=us-gaap_CarryingReportedAmountFairValueDisclosureMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
us-gaap_CreditFacilityAxis=us-gaap_LineOfCreditMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
us-gaap_FairValueByMeasurementBasisAxis=us-gaap_EstimateOfFairValueFairValueDisclosureMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
v3.24.2
| X |
- DefinitionTreasury stock, shares for which dividend and voting rights do not apply.
| Name: |
ivz_TreasuryStockSharesForWhichDividendandVotingRightsDoNotApply |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionTotal number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
| Name: |
us-gaap_CommonStockSharesIssued |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionNumber of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-SubTopic 10
-Topic 505
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2
Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(16)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1
Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3
| Name: |
us-gaap_CommonStockSharesOutstanding |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- References
+ Details
| Name: |
us-gaap_EquityAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionNumber of shares issued for nonredeemable preferred shares and preferred shares redeemable solely at option of issuer. Includes, but is not limited to, preferred shares issued, repurchased, and held as treasury shares. Excludes preferred shares classified as debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13
| Name: |
us-gaap_PreferredStockSharesIssued |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionAggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(16)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3
| Name: |
us-gaap_PreferredStockSharesOutstanding |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
v3.24.2
OTHER COMPREHENSIVE INCOME/(LOSS) (Details) - USD ($)
$ in Millions |
3 Months Ended |
6 Months Ended |
Jun. 30, 2024 |
Jun. 30, 2023 |
Jun. 30, 2024 |
Jun. 30, 2023 |
| Accumulated Other Comprehensive Income (Loss) [Line Items] |
|
|
|
|
| Currency translation differences on investments in foreign subsidiaries |
$ (25.8)
|
$ 63.8
|
$ (122.1)
|
$ 118.9
|
| Other comprehensive income/(loss), net |
1.0
|
0.8
|
2.0
|
5.2
|
| Other comprehensive income/(loss) |
(24.8)
|
64.6
|
(120.1)
|
124.1
|
| AOCI Attributable to Parent, Net of Tax [Roll Forward] |
|
|
|
|
| Beginning balance |
15,185.0
|
15,930.2
|
15,170.3
|
15,843.5
|
| Other comprehensive income/(loss), net of tax |
(24.8)
|
64.6
|
(120.1)
|
124.1
|
| Ending balance |
15,196.5
|
15,866.7
|
15,196.5
|
15,866.7
|
| Total |
|
|
|
|
| Accumulated Other Comprehensive Income (Loss) [Line Items] |
|
|
|
|
| Other comprehensive income/(loss) |
(24.8)
|
64.6
|
(120.1)
|
124.1
|
| AOCI Attributable to Parent, Net of Tax [Roll Forward] |
|
|
|
|
| Beginning balance |
(897.1)
|
(882.9)
|
(801.8)
|
(942.4)
|
| Other comprehensive income/(loss), net of tax |
(24.8)
|
64.6
|
(120.1)
|
124.1
|
| Ending balance |
(921.9)
|
(818.3)
|
(921.9)
|
(818.3)
|
| Foreign currency translation |
|
|
|
|
| Accumulated Other Comprehensive Income (Loss) [Line Items] |
|
|
|
|
| Currency translation differences on investments in foreign subsidiaries |
(25.8)
|
63.8
|
(122.1)
|
118.9
|
| Other comprehensive income/(loss), net |
0.0
|
0.0
|
0.0
|
0.0
|
| Other comprehensive income/(loss) |
(25.8)
|
63.8
|
(122.1)
|
118.9
|
| AOCI Attributable to Parent, Net of Tax [Roll Forward] |
|
|
|
|
| Beginning balance |
(766.4)
|
(759.9)
|
(670.1)
|
(815.0)
|
| Other comprehensive income/(loss), net of tax |
(25.8)
|
63.8
|
(122.1)
|
118.9
|
| Ending balance |
(792.2)
|
(696.1)
|
(792.2)
|
(696.1)
|
| Employee benefit plans |
|
|
|
|
| Accumulated Other Comprehensive Income (Loss) [Line Items] |
|
|
|
|
| Currency translation differences on investments in foreign subsidiaries |
0.0
|
0.0
|
0.0
|
0.0
|
| Other comprehensive income/(loss), net |
1.0
|
0.8
|
2.0
|
5.2
|
| Other comprehensive income/(loss) |
1.0
|
0.8
|
2.0
|
5.2
|
| AOCI Attributable to Parent, Net of Tax [Roll Forward] |
|
|
|
|
| Beginning balance |
(130.7)
|
(123.0)
|
(131.7)
|
(127.4)
|
| Other comprehensive income/(loss), net of tax |
1.0
|
0.8
|
2.0
|
5.2
|
| Ending balance |
$ (129.7)
|
$ (122.2)
|
$ (129.7)
|
$ (122.2)
|
| X |
- DefinitionA roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.
| Name: |
us-gaap_AOCIAttributableToParentNetOfTaxRollForward |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-4
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-5
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481674/830-30-50-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-17
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20
| Name: |
us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 10A
-Subparagraph (a)
-SubTopic 10
-Topic 220
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-10A
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1
| Name: |
us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-SubTopic 10
-Topic 505
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481674/830-30-50-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-17
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1
Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-4
Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-5
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1
Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B
Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-SubTopic 10
-Topic 220
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482739/220-10-55-15
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A
| Name: |
us-gaap_OtherComprehensiveIncomeLossNetOfTax |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of increase (decrease) in other comprehensive income, after tax, from changes classified as other.
| Name: |
us-gaap_OtherComprehensiveIncomeOtherNetOfTax |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(3)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483550/848-10-65-2
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479832/842-10-65-8
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483421/250-10-45-24
Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 23
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483421/250-10-45-23
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483421/250-10-45-5
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-5
Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6
Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6
Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6
Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6
Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6
Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (i)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6
Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-6
Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-6
Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2
Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2
Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482615/740-10-65-8
Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482615/740-10-65-8
Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4
Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1
Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1
Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-7
Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-5
Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481674/830-30-50-1
Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-17
Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20
Reference 34: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-11
Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 205
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478009/946-205-45-3
Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-3
Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1
Reference 38: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2
Reference 39: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3
Reference 40: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(6))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3
Reference 41: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3
Reference 42: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1
Reference 43: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1
Reference 44: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3
Reference 45: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28
Reference 46: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-15
Reference 47: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 16
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-16
Reference 48: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4I
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481175/810-10-55-4I
Reference 49: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476166/350-60-65-1
| Name: |
us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- Details
| Name: |
us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedOtherComprehensiveIncomeMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedTranslationAdjustmentMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
v3.24.2
REVENUE (Details) - USD ($)
$ in Millions |
3 Months Ended |
6 Months Ended |
Jun. 30, 2024 |
Jun. 30, 2023 |
Jun. 30, 2024 |
Jun. 30, 2023 |
| Revenue, Major Customer [Line Items] |
|
|
|
|
| Total operating revenues |
$ 1,483.3
|
$ 1,442.8
|
$ 2,958.6
|
$ 2,861.0
|
| Bermuda |
|
|
|
|
| Revenue, Major Customer [Line Items] |
|
|
|
|
| Total operating revenues |
0.0
|
0.0
|
0.0
|
0.0
|
| Americas |
|
|
|
|
| Revenue, Major Customer [Line Items] |
|
|
|
|
| Total operating revenues |
1,145.5
|
1,108.1
|
2,286.1
|
2,191.5
|
| Asia-Pacific (APAC) |
|
|
|
|
| Revenue, Major Customer [Line Items] |
|
|
|
|
| Total operating revenues |
62.1
|
63.7
|
130.8
|
133.6
|
| Europe, Middle East and Africa (EMEA) |
|
|
|
|
| Revenue, Major Customer [Line Items] |
|
|
|
|
| Total operating revenues |
$ 275.7
|
$ 271.0
|
$ 541.7
|
$ 535.9
|
| X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
| Name: |
us-gaap_EntityWideRevenueMajorCustomerLineItems |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32
Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32
Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479941/924-10-S99-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22
Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-4
| Name: |
us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- Details
| Name: |
srt_StatementGeographicalAxis=country_BM |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
srt_StatementGeographicalAxis=srt_AmericasMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
srt_StatementGeographicalAxis=srt_AsiaPacificMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
srt_StatementGeographicalAxis=us-gaap_EMEAMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
v3.24.2
| X |
- DefinitionAmount of cost not yet recognized for nonvested award under share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2
| Name: |
us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionWeighted-average period over which cost not yet recognized is expected to be recognized for award under share-based payment arrangement, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2
| Name: |
us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1 |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:durationItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of noncash expense for share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Subparagraph (a)
-SubTopic 10
-Topic 230
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28
| Name: |
us-gaap_ShareBasedCompensation |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionThe weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2
| Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:perShareItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionFair value of share-based awards for which the grantee gained the right by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2
| Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
v3.24.2
| X |
- DefinitionThe number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2
| Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionWeighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2
| Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:perShareItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2
| Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2
| Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:perShareItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2
| Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionA roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.
| Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionPer share or unit weighted-average fair value of nonvested award under share-based payment arrangement. Excludes share and unit options. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2
| Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:perShareItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- References
+ Details
| Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2
| Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2
| Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:perShareItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- Details
| Name: |
us-gaap_AwardTypeAxis=ivz_TimeVestedNYSEMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
v3.24.2
| X |
- References
+ Details
| Name: |
us-gaap_EarningsPerShareAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482635/260-10-55-52
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482635/260-10-55-15
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11
Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-7
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-2
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B
Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4
Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1
Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-10
Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2
Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1
Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1
Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-7
| Name: |
us-gaap_EarningsPerShareBasic |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:perShareItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_EarningsPerShareBasicAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482635/260-10-55-52
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482635/260-10-55-15
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11
Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-7
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-2
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B
Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4
Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1
Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2
Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1
Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1
Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-7
| Name: |
us-gaap_EarningsPerShareDiluted |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:perShareItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2
Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28
Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6
Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3
Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1
Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1
Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8
Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11
Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11
Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4
Reference 17: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-10
Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-7
Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1
Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1
Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3
Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 23: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A
Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B
Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B
Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7
Reference 34: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28
Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A
Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B
Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1
| Name: |
us-gaap_NetIncomeLoss |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionThe sum of dilutive potential common shares or units used in the calculation of the diluted per-share or per-unit computation. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1
| Name: |
us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 16
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-16
| Name: |
us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionNumber of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-10
| Name: |
us-gaap_WeightedAverageNumberOfSharesOutstandingBasic |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.24.2
| X |
- DefinitionThe company's investment may take the form of the general partner or a limited partner, and the entities are structured such that each partner makes capital commitments that may be drawn down over the life of the partnership as investment opportunities are identified.
| Name: |
ivz_UndrawnCapitalCommitments |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionMaximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee or each group of similar guarantees before reduction for potential recoveries under recourse or collateralization provisions. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4
| Name: |
us-gaap_GuaranteeObligationsMaximumExposure |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-4
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-9
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 720
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483359/720-20-50-1
Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 27
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482395/460-10-55-27
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-9
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-4
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-3
Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-1
| Name: |
us-gaap_LossContingenciesLineItems |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount charged against operating income increasing loss contingency liability, after adjustments to reduce previously estimated charges. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-1
| Name: |
us-gaap_LossContingencyAccrualProvision |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionMinimum amount of other commitment not otherwise specified in the taxonomy. Excludes commitments explicitly modeled in the taxonomy, including but not limited to, long-term and short-term purchase commitments, recorded and unrecorded purchase obligations, supply commitments, registration payment arrangements, leases, debt, product warranties, guarantees, environmental remediation obligations, and pensions.
| Name: |
us-gaap_OtherCommitment |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- Details
| Name: |
us-gaap_OtherCommitmentsAxis=ivz_EquityCommitmentMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
srt_RangeAxis=srt_MaximumMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
v3.24.2
| X |
- DefinitionSum of the carrying values as of the balance sheet date of all long-term debt of the entity's consolidated investment products, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year (current maturities) or the normal operating cycle, if longer, and after deducting unamortized discount or premium, if any.
| Name: |
ivz_LongTermDebtOfConsolidatedInvestmentProducts |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionNet Interests In Consolidated Investment Products
| Name: |
ivz_NetInterestsInConsolidatedInvestmentProducts |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionVariable Interest Entity, Reporting Entity Involvement, Unfunded Capital Commitments, Amount
| Name: |
ivz_VariableInterestEntityReportingEntityInvolvementUnfundedCapitalCommitmentsAmount |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionThe reporting entity's maximum amount of exposure to loss as a result of its involvement with the Variable Interest Entity (VIE). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-6
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-4
| Name: |
us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-3
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 25
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-25
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (bb)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-3
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 25
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-25
Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (b)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481420/860-30-50-1A
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (b)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481420/860-30-50-1A
Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481420/860-30-50-1A
| Name: |
us-gaap_VariableInterestEntityLineItems |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- Details
| Name: |
srt_ConsolidatedEntitiesAxis=us-gaap_VariableInterestEntityNotPrimaryBeneficiaryMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
v3.24.2
CONSOLIDATED INVESTMENT PRODUCTS - Fair Value Hierarchy Levels of Investments Held and Notes Issued by Consolidated Investment Products (Details) - USD ($)
$ in Millions |
Jun. 30, 2024 |
Dec. 31, 2023 |
| Assets: |
|
|
| Total assets at fair value |
$ 7,793.5
|
$ 8,765.9
|
| Consolidated |
|
|
| Assets: |
|
|
| Real estate investments |
416.6
|
463.6
|
| Total assets at fair value |
7,793.5
|
8,765.9
|
| Consolidated | Quoted Prices in Active Markets for Identical Assets (Level 1) |
|
|
| Assets: |
|
|
| Real estate investments |
0.0
|
0.0
|
| Total assets at fair value |
33.6
|
106.5
|
| Consolidated | Significant Other Observable Inputs (Level 2) |
|
|
| Assets: |
|
|
| Real estate investments |
0.0
|
0.0
|
| Total assets at fair value |
6,560.3
|
6,944.5
|
| Consolidated | Significant Unobservable Inputs (Level 3) |
|
|
| Assets: |
|
|
| Real estate investments |
0.0
|
0.0
|
| Total assets at fair value |
328.4
|
825.8
|
| Consolidated | Investments Measured at NAV as a practical expedient |
|
|
| Assets: |
|
|
| Real estate investments |
416.6
|
463.6
|
| Total assets at fair value |
871.2
|
889.1
|
| Consolidated | Bank loans |
|
|
| Assets: |
|
|
| Bank loan, bonds and equity securities |
6,069.8
|
6,837.2
|
| Consolidated | Bank loans | Quoted Prices in Active Markets for Identical Assets (Level 1) |
|
|
| Assets: |
|
|
| Bank loan, bonds and equity securities |
0.0
|
0.0
|
| Consolidated | Bank loans | Significant Other Observable Inputs (Level 2) |
|
|
| Assets: |
|
|
| Bank loan, bonds and equity securities |
5,819.3
|
6,140.1
|
| Consolidated | Bank loans | Significant Unobservable Inputs (Level 3) |
|
|
| Assets: |
|
|
| Bank loan, bonds and equity securities |
250.5
|
697.1
|
| Consolidated | Bank loans | Investments Measured at NAV as a practical expedient |
|
|
| Assets: |
|
|
| Bank loan, bonds and equity securities |
0.0
|
0.0
|
| Consolidated | Bonds |
|
|
| Assets: |
|
|
| Bank loan, bonds and equity securities |
608.1
|
669.8
|
| Consolidated | Bonds | Quoted Prices in Active Markets for Identical Assets (Level 1) |
|
|
| Assets: |
|
|
| Bank loan, bonds and equity securities |
7.7
|
13.3
|
| Consolidated | Bonds | Significant Other Observable Inputs (Level 2) |
|
|
| Assets: |
|
|
| Bank loan, bonds and equity securities |
600.1
|
656.2
|
| Consolidated | Bonds | Significant Unobservable Inputs (Level 3) |
|
|
| Assets: |
|
|
| Bank loan, bonds and equity securities |
0.3
|
0.3
|
| Consolidated | Bonds | Investments Measured at NAV as a practical expedient |
|
|
| Assets: |
|
|
| Bank loan, bonds and equity securities |
0.0
|
0.0
|
| Consolidated | Equity securities, Equity and fixed income mutual funds |
|
|
| Assets: |
|
|
| Bank loan, bonds and equity securities |
124.1
|
231.9
|
| Equity and fixed income mutual funds, and investments in other private equity funds |
120.3
|
137.9
|
| Consolidated | Equity securities, Equity and fixed income mutual funds | Quoted Prices in Active Markets for Identical Assets (Level 1) |
|
|
| Assets: |
|
|
| Bank loan, bonds and equity securities |
25.2
|
85.2
|
| Equity and fixed income mutual funds, and investments in other private equity funds |
0.7
|
8.0
|
| Consolidated | Equity securities, Equity and fixed income mutual funds | Significant Other Observable Inputs (Level 2) |
|
|
| Assets: |
|
|
| Bank loan, bonds and equity securities |
21.3
|
18.3
|
| Equity and fixed income mutual funds, and investments in other private equity funds |
119.6
|
129.9
|
| Consolidated | Equity securities, Equity and fixed income mutual funds | Significant Unobservable Inputs (Level 3) |
|
|
| Assets: |
|
|
| Bank loan, bonds and equity securities |
77.6
|
128.4
|
| Equity and fixed income mutual funds, and investments in other private equity funds |
0.0
|
0.0
|
| Consolidated | Equity securities, Equity and fixed income mutual funds | Investments Measured at NAV as a practical expedient |
|
|
| Assets: |
|
|
| Bank loan, bonds and equity securities |
0.0
|
0.0
|
| Equity and fixed income mutual funds, and investments in other private equity funds |
0.0
|
0.0
|
| Consolidated | Investments in other private equity funds |
|
|
| Assets: |
|
|
| Equity and fixed income mutual funds, and investments in other private equity funds |
454.6
|
425.5
|
| Consolidated | Investments in other private equity funds | Quoted Prices in Active Markets for Identical Assets (Level 1) |
|
|
| Assets: |
|
|
| Equity and fixed income mutual funds, and investments in other private equity funds |
0.0
|
0.0
|
| Consolidated | Investments in other private equity funds | Significant Other Observable Inputs (Level 2) |
|
|
| Assets: |
|
|
| Equity and fixed income mutual funds, and investments in other private equity funds |
0.0
|
0.0
|
| Consolidated | Investments in other private equity funds | Significant Unobservable Inputs (Level 3) |
|
|
| Assets: |
|
|
| Equity and fixed income mutual funds, and investments in other private equity funds |
0.0
|
0.0
|
| Consolidated | Investments in other private equity funds | Investments Measured at NAV as a practical expedient |
|
|
| Assets: |
|
|
| Equity and fixed income mutual funds, and investments in other private equity funds |
$ 454.6
|
$ 425.5
|
| X |
- DefinitionCollateralized Loan Obligation, Collateral Assets
| Name: |
ivz_CollateralizedLoanObligationCollateralAssets |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionConsolidated Investment Products (CIP) Assets
| Name: |
ivz_ConsolidatedInvestmentProductsCIPAssetsAbstract |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionInvestment in Subsidiaries
| Name: |
ivz_InvestmentsOfConsolidatedInvestmentProducts |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionPrivate Equity Fund Assets
| Name: |
ivz_PrivateEquityFundAssets |
| Namespace Prefix: |
ivz_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount of real estate investments, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; (7) other real estate investments; (8) real estate joint ventures; and (9) unconsolidated real estate and other joint ventures not separately presented. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481990/310-10-45-15
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480078/944-80-55-14
Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480078/944-80-55-9
Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(1)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(3)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1
Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(1)(6))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
| Name: |
us-gaap_RealEstateInvestments |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- Details
| Name: |
srt_ConsolidatedEntitiesAxis=us-gaap_VariableInterestEntityPrimaryBeneficiaryMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueMeasuredAtNetAssetValuePerShareMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
us-gaap_FinancialInstrumentAxis=us-gaap_BankLoanObligationsMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
us-gaap_FinancialInstrumentAxis=us-gaap_CorporateBondSecuritiesMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
us-gaap_FinancialInstrumentAxis=us-gaap_EquitySecuritiesMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
us-gaap_FinancialInstrumentAxis=us-gaap_PrivateEquityFundsMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
v3.24.2
v3.24.2
| X |
- DefinitionThe equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity.
| Name: |
us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:percentItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionAggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10
Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(21))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1
| Name: |
us-gaap_PreferredStockValue |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- Details
| Name: |
srt_CounterpartyNameAxis=ivz_MassMutualMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
srt_OwnershipAxis=ivz_InvescoMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
dei_LegalEntityAxis=ivz_MassMutualMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
v3.24.2
| X |
- DefinitionAggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1
| Name: |
us-gaap_CommonStockDividendsPerShareDeclared |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:perShareItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAggregate dividends declared during the period for each share of preferred stock outstanding.
| Name: |
us-gaap_PreferredStockDividendsPerShareDeclared |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
dtr-types:perShareItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionDetail information of subsequent event by type. User is expected to use existing line items from elsewhere in the taxonomy as the primary line items for this disclosure, which is further associated with dimension and member elements pertaining to a subsequent event. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481674/830-30-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 855
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483399/855-10-50-2
| Name: |
us-gaap_SubsequentEventLineItems |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- Details
| Name: |
us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
Invesco (NYSE:IVZ)
Historical Stock Chart
From Jul 2024 to Aug 2024
Invesco (NYSE:IVZ)
Historical Stock Chart
From Aug 2023 to Aug 2024
