Franklin Resources (BEN) 10-Q30 Apr 202020 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Mar. 31, 2020	Apr. 23, 2020
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-09318
Entity Registrant Name	FRANKLIN RESOURCES, INC.
Entity Central Index Key	0000038777
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-2670991
Entity Address, Address Line One	One Franklin Parkway
Entity Address, City or Town	San Mateo
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94403
City Area Code	650
Local Phone Number	312-2000
Title of 12(b) Security	Common Stock, par value $0.10 per share
Trading Symbol	BEN
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		495,306,284

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Consolidated Statements of Income - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Operating Revenues
Other	$ 33.6	$ 25.8	$ 65.1	$ 55.6
Total operating revenues	1,338.3	1,433.8	2,751	2,845.3
Operating Expenses
Sales, distribution and marketing	423.9	449.4	867.8	893.9
Compensation and benefits	365.7	409.6	755.1	764.6
Information systems and technology	61.8	62.1	124.3	123
Occupancy	34.4	31.4	68.9	62.6
General, administrative and other	96.4	101.8	186.1	210.2
Total operating expenses	982.2	1,054.3	2,002.2	2,054.3
Operating Income	356.1	379.5	748.8	791
Other Income (Expenses)
Investment and other income (losses), net	(249)	118.7	(189.4)	59.6
Interest expense	(4.2)	(5.7)	(10.9)	(12.1)
Other income (expenses), net	(253.2)	113	(200.3)	47.5
Income before taxes	102.9	492.5	548.5	838.5
Taxes on income	44.1	110.9	141.6	196.9
Net income	58.8	381.6	406.9	641.6
Less: net income (loss) attributable to
Redeemable noncontrolling interests	(28.5)	21.5	(19.5)	6.1
Nonredeemable noncontrolling interests	8.2	(7.4)	(3.2)	(7.9)
Net Income Attributable to Franklin Resources, Inc.	$ 79.1	$ 367.5	$ 429.6	$ 643.4
Earnings per Share
Basic	$ 0.16	$ 0.72	$ 0.86	$ 1.26
Diluted	$ 0.16	$ 0.72	$ 0.86	$ 1.25
Investment management fees [Member]
Operating Revenues
Operating revenues	$ 908.2	$ 992.4	$ 1,887.9	$ 1,964.2
Sales and distribution fees [Member]
Operating Revenues
Operating revenues	341.7	358.5	693.2	713.3
Shareholder servicing fees [Member]
Operating Revenues
Operating revenues	$ 54.8	$ 57.1	$ 104.8	$ 112.2

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net Income	$ 58.8	$ 381.6	$ 406.9	$ 641.6
Other Comprehensive Income (Loss)
Currency translation adjustments, net of tax	(102.5)	7.9	(44.5)	(6.7)
Net unrealized gains (losses) on defined benefit plans, net of tax	0.7	(0.7)	(0.2)	(1.1)
Net unrealized gains (losses) on investments, net of tax	1.9	(0.1)	0.2	(0.1)
Total other comprehensive income (loss)	(99.9)	7.1	(44.5)	(7.9)
Total comprehensive income (loss)	(41.1)	388.7	362.4	633.7
Less: comprehensive income (loss) attributable to
Redeemable noncontrolling interests	(28.5)	21.5	(19.5)	6.1
Nonredeemable noncontrolling interests	8.2	(7.4)	(3.2)	(7.9)
Comprehensive Income (Loss) Attributable to Franklin Resources, Inc.	$ (20.8)	$ 374.6	$ 385.1	$ 635.5

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2020	Sep. 30, 2019
Assets
Cash and cash equivalents	$ 6,035.8	$ 5,957.6
Receivables	630.8	740
Investments	1,818	1,555.8
Investments, at fair value	892.7	589.7
Property and equipment, net	709.3	683.7
Goodwill and other intangible assets, net	3,018.6	2,994.5
Operating lease right-of-use assets	265.9	0
Other	207.5	197.7
Total Assets	14,666.2	14,532.2
Liabilities
Compensation and benefits	339.1	502.4
Accounts payable and accrued expenses	213.3	222.9
Dividends	142.1	137.4
Commissions	227.3	254
Income taxes	695.1	824.7
Debt	697.2	696.9
Deferred taxes	126.2	120.1
Operating lease liabilities	308.9	0
Other	238.4	270.6
Total liabilities	3,703.6	3,161.3
Commitments and Contingencies (Note 10)
Redeemable Noncontrolling Interests	209.1	746.7
Stockholders’ Equity
Preferred stock, $1.00 par value, 1,000,000 shares authorized; none issued	0	0
Common stock, $0.10 par value, 1,000,000,000 shares authorized; 495,284,908 and 499,303,269 shares issued and outstanding at March 31, 2020 and September 30, 2019	49.5	49.9
Retained earnings	10,330	10,288.2
Accumulated other comprehensive loss	(476.1)	(431.6)
Total Franklin Resources, Inc. stockholders’ equity	9,903.4	9,906.5
Nonredeemable noncontrolling interests	850.1	717.7
Total stockholders’ equity	10,753.5	10,624.2
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	14,666.2	14,532.2
CIPs [Member]
Assets
Cash and cash equivalents	234.4	154.2
Receivables	44.4	99
Investments, at fair value	1,935.9	2,303.9
Total Assets	2,214.7	2,557.1
Liabilities
Accounts payable and accrued expenses	102.2	81.5
Debt	613.8	50.8
Other	2	0
Total liabilities	718	132.3
Redeemable Noncontrolling Interests	209.1	746.7
Stockholders’ Equity
Total Franklin Resources, Inc. stockholders’ equity	625.1	1,129.6
Nonredeemable noncontrolling interests	662.5	548.5
Total stockholders’ equity	1,287.6	1,678.1
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	2,214.7	2,557.1
Franklin Resources, Inc. [Member]
Assets
Cash and cash equivalents	$ 5,801.4	$ 5,803.4

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2020	Sep. 30, 2019
Statement of Financial Position [Abstract]
Investments, at fair value	$ 892.7	$ 589.7
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.1	$ 0.1
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	495,284,908	499,303,269
Common stock, shares outstanding	495,284,908	499,303,269

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock [Member]	Capital in Excess of Par Value [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Stockholders' Equity [Member]	Nonredeemable Noncontrolling Interests [Member]
Stockholders' Equity [Roll Forward]
Adoption of new accounting guidance \| ASU 2014-09 and 2016-01 [Member]	$ 14.9			$ 22.9		$ 14.9
Adoption of new accounting guidance \| ASU 2016-01 [Member]					$ (8)
Beginning balance - Shares at Sep. 30, 2018		519.1
Beginning balance at Sep. 30, 2018		$ 51.9	$ 0	10,217.9	(370.6)	9,899.2
Beginning balance at Sep. 30, 2018							$ 308.7
Beginning balance at Sep. 30, 2018	10,207.9
Stockholders' Equity [Roll Forward]
Net income				275.9		275.9
Nonredeemable noncontrolling interests							(0.5)
Net income	275.4
Other comprehensive income (loss)	(15)				(15)	(15)
Dividends declared on common stock	(133.8)			(133.8)		(133.8)
Repurchase of common stock - Shares		(10.7)
Repurchase of common stock - Amount	(326.9)	$ (1.1)	(30.8)	(295)		(326.9)
Issuance of common stock - Shares		3.1
Issuance of common stock - Amount	33.9	$ 0.3	33.6			33.9
Stock-based compensation	(2.8)		(2.8)			(2.8)
Net subscriptions and other	23.1						23.1
Ending balance - Shares at Dec. 31, 2018		511.5
Ending balance at Dec. 31, 2018		$ 51.1	0	10,087.9	(393.6)	9,745.4
Ending balance at Dec. 31, 2018							331.3
Ending balance at Dec. 31, 2018	10,076.7
Beginning balance - Shares at Sep. 30, 2018		519.1
Beginning balance at Sep. 30, 2018		$ 51.9	0	10,217.9	(370.6)	9,899.2
Beginning balance at Sep. 30, 2018							308.7
Beginning balance at Sep. 30, 2018	10,207.9
Stockholders' Equity [Roll Forward]
Net income	643.4
Nonredeemable noncontrolling interests	(7.9)
Other comprehensive income (loss)	(7.9)
Ending balance - Shares at Mar. 31, 2019		507.7
Ending balance at Mar. 31, 2019		$ 50.8	0	10,219.5	(386.5)	9,883.8
Ending balance at Mar. 31, 2019							615.3
Ending balance at Mar. 31, 2019	10,499.1
Beginning balance - Shares at Dec. 31, 2018		511.5
Beginning balance at Dec. 31, 2018		$ 51.1	0	10,087.9	(393.6)	9,745.4
Beginning balance at Dec. 31, 2018							331.3
Beginning balance at Dec. 31, 2018	10,076.7
Stockholders' Equity [Roll Forward]
Net income	367.5			367.5		367.5
Nonredeemable noncontrolling interests	(7.4)						(7.4)
Net income	360.1
Other comprehensive income (loss)	7.1				7.1	7.1
Dividends declared on common stock	(132.6)			(132.6)		(132.6)
Repurchase of common stock - Shares		(4.6)
Repurchase of common stock - Amount	(144.7)	$ (0.4)	(41)	(103.3)		(144.7)
Issuance of common stock - Shares		0.8
Issuance of common stock - Amount	13.4	$ 0.1	13.3			13.4
Stock-based compensation	27.7		27.7			27.7
Net subscriptions and other	51						51
Deconsolidation of investment products	24.3						24.3
Acquisition	216.1						216.1
Ending balance - Shares at Mar. 31, 2019		507.7
Ending balance at Mar. 31, 2019		$ 50.8	0	10,219.5	(386.5)	9,883.8
Ending balance at Mar. 31, 2019							615.3
Ending balance at Mar. 31, 2019	10,499.1
Beginning balance - Shares at Sep. 30, 2019		499.3
Beginning balance at Sep. 30, 2019	9,906.5	$ 49.9	0	10,288.2	(431.6)	9,906.5
Beginning balance at Sep. 30, 2019	717.7						717.7
Beginning balance at Sep. 30, 2019	10,624.2
Stockholders' Equity [Roll Forward]
Net income				350.5		350.5
Nonredeemable noncontrolling interests							(11.4)
Net income	339.1
Other comprehensive income (loss)	55.4				55.4	55.4
Dividends declared on common stock	(135.3)			(135.3)		(135.3)
Repurchase of common stock - Shares		(4.6)
Repurchase of common stock - Amount	(123.6)	$ (0.4)	(27.8)	(95.4)		(123.6)
Issuance of common stock - Shares		2.9
Issuance of common stock - Amount	29	$ 0.3	28.7			29
Stock-based compensation	(0.9)		(0.9)			(0.9)
Net subscriptions and other	28.2						28.2
Deconsolidation of investment products	(0.7)						(0.7)
Acquisition	19						19
Ending balance - Shares at Dec. 31, 2019		497.6
Ending balance at Dec. 31, 2019		$ 49.8	0	10,408	(376.2)	10,081.6
Ending balance at Dec. 31, 2019							752.8
Ending balance at Dec. 31, 2019	10,834.4
Beginning balance - Shares at Sep. 30, 2019		499.3
Beginning balance at Sep. 30, 2019	9,906.5	$ 49.9	0	10,288.2	(431.6)	9,906.5
Beginning balance at Sep. 30, 2019	717.7						717.7
Beginning balance at Sep. 30, 2019	10,624.2
Stockholders' Equity [Roll Forward]
Net income	429.6
Nonredeemable noncontrolling interests	(3.2)
Other comprehensive income (loss)	(44.5)
Ending balance - Shares at Mar. 31, 2020		495.3
Ending balance at Mar. 31, 2020	9,903.4	$ 49.5	0	10,330	(476.1)	9,903.4
Ending balance at Mar. 31, 2020	850.1						850.1
Ending balance at Mar. 31, 2020	10,753.5
Beginning balance - Shares at Dec. 31, 2019		497.6
Beginning balance at Dec. 31, 2019		$ 49.8	0	10,408	(376.2)	10,081.6
Beginning balance at Dec. 31, 2019							752.8
Beginning balance at Dec. 31, 2019	10,834.4
Stockholders' Equity [Roll Forward]
Net income	79.1			79.1		79.1
Nonredeemable noncontrolling interests	8.2						8.2
Net income	87.3
Other comprehensive income (loss)	(99.9)				(99.9)	(99.9)
Dividends declared on common stock	(134.6)			(134.6)		(134.6)
Repurchase of common stock - Shares		(2.9)
Repurchase of common stock - Amount	(64.6)	$ (0.4)	(41.7)	(22.5)		(64.6)
Issuance of common stock - Shares		0.6
Issuance of common stock - Amount	16	$ 0.1	15.9			16
Stock-based compensation	25.8		25.8			25.8
Net subscriptions and other	89.7						89.7
Deconsolidation of investment products	(0.6)						(0.6)
Ending balance - Shares at Mar. 31, 2020		495.3
Ending balance at Mar. 31, 2020	9,903.4	$ 49.5	$ 0	$ 10,330	$ (476.1)	$ 9,903.4
Ending balance at Mar. 31, 2020	850.1						$ 850.1
Ending balance at Mar. 31, 2020	$ 10,753.5

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Statement of Stockholders' Equity [Abstract]
Dividends declared per share	$ 0.27	$ 0.27	$ 0.26	$ 0.26

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net cash provided by operating activities
Net Income	$ 406.9	$ 641.6
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of deferred sales commissions	41.5	39.8
Depreciation and other amortization	50.2	41.8
Stock-based compensation	57.8	59.4
Losses (income) from investments in equity method investees	120.3	(9.6)
Gain on swap agreement	(29.1)	0
Net losses on investments of consolidated investment products	67.7	17.2
Net purchase of investments by consolidated investment products	(359.9)	(240.3)
Deferred income taxes	8.6	7.5
Other	24.3	17
Changes in operating assets and liabilities:
Decrease (increase) in receivables and other assets	66.3	(3.7)
Decrease (increase) in receivables of consolidated investment products	(62.2)	0.1
Decrease in investments, net	50.4	128.4
Decrease in operating lease right-of-use assets	10.4	0
Decrease in accrued compensation and benefits	(161.1)	(72.2)
Decrease in commissions payable	(26.7)	(30.5)
Decrease in income taxes payable	(127)	(118.9)
Decrease in accounts payable, accrued expenses and other liabilities	(12.9)	(23)
Increase (decrease) in accounts payable and accrued expenses of consolidated investment products	23.7	(10.4)
Decrease in operating lease liabilities	(8.2)	0
Net cash provided by operating activities	141	444.2
Net cash provided by (used in) investing activities
Purchase of investments	(243.3)	(105.4)
Liquidation of investments	193	134.3
Purchase of investments by consolidated collateralized loan obligations	(80.5)	0
Liquidation of investments by consolidated collateralized loan obligations	16.9	0
Additions of property and equipment, net	(73.5)	(72.2)
Acquisitions, net of cash acquired	(19.8)	(684.2)
Net consolidation (deconsolidation) of investment products	213.3	(6.7)
Net cash provided by (used in) investing activities	6.1	(734.2)
Net cash used in financing activities
Issuance of common stock	12.1	12.8
Dividends paid on common stock	(265.2)	(255.4)
Repurchase of common stock	(187.4)	(469.4)
Proceeds from loan	0.2	1.7
Payments on loan	(0.2)	0
Proceeds from debt of consolidated investment products	69.9	0
Payments on contingent consideration liability	0	(20.4)
Noncontrolling interests	306.5	67.9
Net cash used in financing activities	(64.1)	(662.8)
Effect of exchange rate changes on cash and cash equivalents	(4.8)	(11.8)
Increase (decrease) in cash and cash equivalents	78.2	(964.6)
Cash and cash equivalents, beginning of period	5,957.6	6,910.6
Cash and Cash Equivalents, End of Period	6,035.8	5,946
Supplemental Disclosure of Cash Flow Information
Cash paid for income taxes	258.2	303.3
Cash paid for interest	10.6	10.4
Cash paid for interest by consolidated investment products	$ 1.1	$ 1.1

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
Significant Accounting Policies	Mar. 31, 2020
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Presentation The unaudited interim financial statements of Franklin Resources, Inc. (“Franklin”) and its consolidated subsidiaries (collectively, the “Company”) included herein have been prepared by the Company in accordance with the instructions to Form 10-Q and the rules and regulations of the U.S. Securities and Exchange Commission. Under these rules and regulations, some information and footnote disclosures normally included in financial statements prepared under accounting principles generally accepted in the United States of America have been shortened or omitted. Management believes that all adjustments necessary for a fair statement of the financial position and the results of operations for the periods shown have been made. All adjustments are normal and recurring. These financial statements should be read together with the Company’s audited financial statements included in its Form 10-K for the fiscal year ended September 30, 2019 (“fiscal year 2019 ”). Certain comparative amounts for the prior fiscal year period have been reclassified to conform to the financial statement presentation as of and for the period ended March 31, 2020 . Use of Estimates The Company’s consolidated financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America, which require the use of estimates, judgments and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the periods presented. Global concerns about the COVID-19 pandemic have adversely affected, and we expect will continue to adversely affect, our business, financial condition and results of operations including the estimates and assumptions made by management. Significant estimates and assumptions made relate to, among other things, valuations for certain investments which are carried at fair value including those of consolidated investment products, the review of goodwill and intangible assets for impairment, and the calculation of income taxes. Actual results could differ from the estimates, and such differences may be material to the Company’s consolidated financial statements. Other Significant Accounting Policies At March 31, 2020 , there were no material changes in the other significant accounting policies as reported in the Company’s Form 10-K for fiscal year 2019 .

New Accounting Guidance

New Accounting Guidance	6 Months Ended
New Accounting Guidance	Mar. 31, 2020
Accounting Changes and Error Corrections [Abstract]
New Accounting Guidance	New Accounting Guidance Recently Adopted Accounting Guidance On October 1, 2019 , the Company adopted new guidance issued by the Financial Accounting Standards Board (“FASB”) for leases. The new guidance requires lessees to recognize assets and liabilities arising from substantially all leases. The guidance also requires an evaluation at the inception of a contract to determine whether the contract is or contains a lease. The Company adopted the new guidance using the modified retrospective approach and recognized right-of-use assets of $274.5 million and lease liabilities of $315.2 million , substantially all of which relate to real estate leases. The right-of-use assets recognized as of October 1, 2019 were net of $40.7 million of deferred rent previously included in other liabilities on the consolidated balance sheet. See Note 9 – Leases for additional disclosures. Accounting Guidance Not Yet Adopted There were no other significant updates to the new accounting guidance that the Company has not yet adopted as disclosed in its Form 10-K for fiscal year 2019 .

Earnings per Share

Earnings per Share	6 Months Ended
Earnings per Share	Mar. 31, 2020
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share The components of basic and diluted earnings per share were as follows: (in millions, except per share data) Three Months Ended Six Months Ended 2020 2019 2020 2019 Net income attributable to Franklin Resources, Inc. $ 79.1 $ 367.5 $ 429.6 $ 643.4 Less: allocation of earnings to participating nonvested stock and stock unit awards 1.8 3.8 5.7 6.0 Net Income Available to Common Stockholders $ 77.3 $ 363.7 $ 423.9 $ 637.4 Weighted-average shares outstanding – basic 491.5 504.7 493.1 507.6 Dilutive effect of nonparticipating nonvested stock unit awards 0.3 0.4 0.5 0.4 Weighted-Average Shares Outstanding – Diluted 491.8 505.1 493.6 508.0 Earnings per Share Basic $ 0.16 $ 0.72 $ 0.86 $ 1.26 Diluted 0.16 0.72 0.86 1.25 Nonparticipating nonvested stock unit awards excluded from the calculation of diluted earnings per share because their effect would have been antidilutive were 0.5 million for the three and six months ended March 31, 2020 , and 0.2 million and 0.3 million for the three and six months ended March 31, 2019 .

Revenues

Revenues	6 Months Ended
Revenues	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Operating revenues by geographic area were as follows: Earned From Contracts With Customers Not Earned From Contracts With Customers 1 Total (in millions) United States Luxembourg Americas Excluding United States Asia-Pacific Europe, Middle East and Africa, Excluding Luxembourg for the three months ended Investment management fees $ 528.9 $ 236.1 $ 68.2 $ 53.4 $ 21.6 $ — $ 908.2 Sales and distribution fees 232.3 94.8 13.3 1.0 0.3 — 341.7 Shareholder servicing fees 45.8 6.6 0.1 2.3 — — 54.8 Other 6.0 0.3 — 0.2 — 27.1 33.6 Total $ 813.0 $ 337.8 $ 81.6 $ 56.9 $ 21.9 $ 27.1 $ 1,338.3 Earned From Contracts With Customers Not Earned From Contracts With Customers 1 Total (in millions) United States Luxembourg Americas Excluding United States Asia-Pacific Europe, Middle East and Africa, Excluding Luxembourg for the six months ended Investment management fees $ 1,102.0 $ 488.6 $ 143.2 $ 110.1 $ 44.0 $ — $ 1,887.9 Sales and distribution fees 469.7 193.6 27.7 1.5 0.7 — 693.2 Shareholder servicing fees 86.1 13.5 0.2 5.0 — — 104.8 Other 12.1 0.6 — 0.3 1.5 50.6 65.1 Total $ 1,669.9 $ 696.3 $ 171.1 $ 116.9 $ 46.2 $ 50.6 $ 2,751.0 Earned From Contracts With Customers Not Earned From Contracts With Customers 1 Total (in millions) United States Luxembourg Americas Excluding United States Asia-Pacific Europe, Middle East and Africa, Excluding Luxembourg for the three months ended Investment management fees $ 565.6 $ 263.4 $ 82.9 $ 56.9 $ 23.6 $ — $ 992.4 Sales and distribution fees 228.6 113.5 15.8 0.2 0.4 — 358.5 Shareholder servicing fees 47.1 7.4 0.1 2.5 — — 57.1 Other 4.2 0.3 — 0.2 0.1 21.0 25.8 Total $ 845.5 $ 384.6 $ 98.8 $ 59.8 $ 24.1 $ 21.0 $ 1,433.8 Earned From Contracts With Customers Not Earned From Contracts With Customers 1 Total (in millions) United States Luxembourg Americas Excluding United States Asia-Pacific Europe, Middle East and Africa, Excluding Luxembourg for the six months ended Investment management fees $ 1,098.7 $ 531.1 $ 168.5 $ 118.3 $ 47.6 $ — $ 1,964.2 Sales and distribution fees 461.6 217.8 32.4 0.7 0.8 — 713.3 Shareholder servicing fees 92.0 15.1 0.1 5.0 — — 112.2 Other 7.2 0.6 — 0.3 0.4 47.1 55.6 Total $ 1,659.5 $ 764.6 $ 201.0 $ 124.3 $ 48.8 $ 47.1 $ 2,845.3 __________________ 1 Consists of revenues of consolidated investment products. Operating revenues are attributed to geographic areas based on the locations of the subsidiaries that provide the services, which may differ from the regions in which the related investment products are sold.

Investments

Investments	6 Months Ended
Investments	Mar. 31, 2020
Investments [Abstract]
Investments	Investments The disclosures below include details of the Company’s investments, excluding those of consolidated investment products. See Note 7 – Consolidated Investment Products for information related to the investments held by these entities. Investments consisted of the following: (in millions) March 31, September 30, Equity securities, at fair value Sponsored funds $ 801.5 $ 466.4 Other equity securities 39.4 63.6 Total equity securities, at fair value 840.9 530.0 Debt securities Trading 40.0 44.2 Available-for-sale 1.4 4.0 Total debt securities 41.4 48.2 Investments in equity method investees 862.0 933.4 Other investments 73.7 44.2 Total $ 1,818.0 $ 1,555.8 In December 2019, the Company entered into a swap agreement with a notional value of $60.0 million to hedge against changes in the value of an investment in a sponsored fund . The swap is measured at fair value with changes in the fair value recognized in earnings. The Company recognized gains of $31.4 million and $29.1 million on the swap during the three and six months ended March 31, 2020 . The Company recognized other-than-temporary impairment of $1.8 million and $2.1 million in earnings during the three and six months ended March 31, 2020 .

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The disclosures below include details of the Company’s fair value measurements, excluding those of consolidated investment products. See Note 7 – Consolidated Investment Products for information related to fair value measurements of the assets and liabilities of these entities. The assets and liabilities measured at fair value on a recurring basis were as follows: (in millions) Level 1 Level 2 Level 3 NAV as a Practical Expedient Total as of March 31, 2020 Assets Equity securities, at fair value Sponsored funds $ 743.5 $ — $ — $ 58.0 $ 801.5 Other equity securities 15.4 3.7 0.9 19.4 39.4 Debt securities Trading — 23.6 16.4 — 40.0 Available-for-sale — 1.4 — — 1.4 Life settlement contracts — — 10.4 — 10.4 Total Assets Measured at Fair Value $ 758.9 $ 28.7 $ 27.7 $ 77.4 $ 892.7 Liability Contingent consideration liabilities $ — $ — $ 7.6 $ — $ 7.6 (in millions) Level 1 Level 2 Level 3 NAV as a Total as of September 30, 2019 Assets Equity securities, at fair value Sponsored funds $ 397.0 $ — $ — $ 69.4 $ 466.4 Other equity securities 22.6 3.2 0.8 37.0 63.6 Debt securities Trading — 24.4 19.8 — 44.2 Available-for-sale — 4.0 — — 4.0 Life settlement contracts — — 11.5 — 11.5 Total Assets Measured at Fair Value $ 419.6 $ 31.6 $ 32.1 $ 106.4 $ 589.7 Level 1 assets consist primarily of sponsored funds and other equity securities for which the fair values are based on published NAV or quoted market prices. Level 2 assets consist of debt and equity securities for which the fair values are determined using independent third-party broker or dealer price quotes. Level 3 assets consist of debt and equity securities and life settlement contracts for which the fair values are based on discounted cash flows using significant unobservable inputs. Investments for which fair value was estimated using reported NAV as a practical expedient primarily consist of nonredeemable private debt, equity, infrastructure and real estate funds. These investments are expected to be returned through distributions over the life of the funds as a result of liquidations of the funds’ underlying assets. Investments with known liquidation periods were $36.1 million with an expected weighted-average life of 0.9 years at March 31, 2020 , and $46.9 million with a weighted-average life of 1.3 years at September 30, 2019 . The liquidation period for an investment in a private debt fund of $39.9 million and $48.6 million at March 31, 2020 and September 30, 2019 is unknown. The Company’s unfunded commitments to the funds totaled $4.3 million and $4.7 million at March 31, 2020 and September 30, 2019 . The fair value of the contingent consideration liabilities was primarily determined using a Monte Carlo pricing model based on estimated future revenue assumptions. Changes in the Level 3 assets and liability were as follows: 2020 2019 (in millions) Investments Contingent Investments Contingent for the three months ended March 31, Balance at beginning of period $ 40.2 $ — $ 29.0 $ (40.0 ) Acquisitions — (7.6 ) — — Total realized and unrealized gains (losses) Included in investment and other income (losses), net (0.4 ) — 0.8 — Included in general, administrative and other expense — — — (0.7 ) Purchases — — 5.0 — Sales (2.0 ) — — — Settlements (0.1 ) — (0.9 ) 40.7 Consolidation of investment product (10.0 ) — — — Balance at End of Period $ 27.7 $ (7.6 ) $ 33.9 $ — Change in unrealized gains (losses) included in net income relating to assets and liability held at end of period $ (1.1 ) $ — $ 0.3 $ — 2020 2019 (in millions) Investments Contingent Investments Contingent for the six months ended March 31, Balance at beginning of period $ 32.1 $ — $ 32.6 $ (38.7 ) Acquisitions — (7.6 ) — — Total realized and unrealized gains (losses) Included in investment and other income (losses), net (0.7 ) — 3.6 — Included in general, administrative and other expense — — — (2.0 ) Purchases 12.6 — 5.0 — Sales (3.5 ) — (4.3 ) — Settlements (2.8 ) — (0.9 ) 40.7 Consolidation of investment product (10.0 ) — — — Transfers out of Level 3 — — (2.1 ) — Balance at End of Period $ 27.7 $ (7.6 ) $ 33.9 $ — Change in unrealized gains (losses) included in net income relating to assets and liability held at end of period $ (1.9 ) $ — $ 3.0 $ — There were no transfers into Level 3 during the six months ended March 31, 2020 and 2019 . Valuation techniques and significant unobservable inputs used in the Level 3 fair value measurements were as follows: (in millions) as of March 31, 2020 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Debt securities, trading $ 16.4 Discounted cash flow Discount rate 2.5%–17.8% (7.3%) Risk premium 2.0%–6.1% (3.8%) Life settlement contracts 10.4 Discounted cash flow Life expectancy 18–103 months (53) Discount rate 11.7%–20.0% (15.3%) Contingent consideration liabilities 7.6 Monte Carlo pricing model Revenue discount rate 6.0% (in millions) as of September 30, 2019 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Debt securities, trading $ 19.8 Discounted cash flow Discount rate 2.7%–13.3% (6.7%) Risk premium 2.0%–6.1% (4.2%) Life settlement contracts 11.5 Discounted cash flow Life expectancy 19–107 months (57) Discount rate 8.0%–20.0% (13.2%) __________________ 1 Based on the relative fair value of the instruments. If the relevant significant inputs used in the market pricing valuation were independently higher (lower) as of March 31, 2020 , the resulting fair value of the assets would be higher (lower). If the relevant significant inputs used in the discounted cash flow valuations were independently higher (lower) as of March 31, 2020 , the resulting fair value of the assets and liabilities would be lower (higher). Financial instruments that were not measured at fair value were as follows: (in millions) Fair Value Level March 31, 2020 September 30, 2019 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Assets Cash and cash equivalents 1 $ 5,801.4 $ 5,801.4 $ 5,803.4 $ 5,803.4 Other investments Time deposits 2 16.6 16.6 15.4 15.4 Equity securities 3 46.7 49.3 17.3 19.2 Financial Liability Debt 2 $ 697.2 $ 711.5 $ 696.9 $ 718.7

Consolidated Investment Product

Consolidated Investment Products	6 Months Ended
Consolidated Investment Products	Mar. 31, 2020
Consolidated Investment Products [Abstract]
Consolidated Investment Products	Consolidated Investment Products Consolidated investment products (“CIPs”) consist of mutual and other investment funds, limited partnerships and similar structures and collateralized loan obligations (“CLOs”), all of which are sponsored by the Company, and include both voting interest entities and variable interest entities. CLOs are asset-backed financing entities collateralized by a pool of corporate loans. The Company had 56 CIPs, including two CLOs, as of March 31, 2020 and 60 CIPs, none of which were CLOs, as of September 30, 2019 . The balances related to CIPs included in the Company’s consolidated balance sheets were as follows: (in millions) March 31, September 30, Assets Cash and cash equivalents $ 234.4 $ 154.2 Receivables 44.4 99.0 Investments, at fair value 1,935.9 2,303.9 Total Assets $ 2,214.7 $ 2,557.1 Liabilities Accounts payable and accrued expenses $ 102.2 $ 81.5 Debt 613.8 50.8 Other liabilities 2.0 — Total liabilities 718.0 132.3 Redeemable Noncontrolling Interests 209.1 746.7 Stockholders ’ Equity Franklin Resources, Inc.’s interests 625.1 1,129.6 Nonredeemable noncontrolling interests 662.5 548.5 Total stockholders’ equity 1,287.6 1,678.1 Total Liabilities, Redeemable Noncontrolling Interests and Stockholders ’ Equity $ 2,214.7 $ 2,557.1 The CIPs did not have a significant impact on net income attributable to the Company during the three and six months ended March 31, 2020 and 2019 . The Company has no right to the CIPs’ assets, other than its direct equity investments in them and investment management and other fees earned from them. The debt holders of the CIPs have no recourse to the Company’s assets beyond the level of its direct investment, therefore the Company bears no other risks associated with the CIPs’ liabilities. Investment products are typically consolidated when the Company makes an initial investment in a newly-launched investment entity. They are typically deconsolidated when the Company no longer has a controlling financial interest due to redemptions of its investment or increases in third-party investments. The Company’s investments in these products subsequent to deconsolidation are accounted for as either equity method investments or equity securities measured at fair value depending on the structure of the product and the Company’s role and level of ownership. The Company consolidates CLOs in which the Company is the primary beneficiary. The Company is the primary beneficiary of a CLO if the Company has the power to direct the activities that most significantly impact the CLO ’ s economic performance and the obligation to absorb losses of, or right to receive benefits from, the CLO that could potentially be significant to the CLO. Fair Value Measurements Assets of CIPs measured at fair value on a recurring basis were as follows: (in millions) Level 1 Level 2 Level 3 NAV as a Total as of March 31, 2020 Assets Cash and cash equivalents of CLOs $ 45.0 $ — $ — $ — $ 45.0 Receivables of CLOs — 3.1 — — 3.1 Investments Equity securities $ 118.2 $ 32.0 $ 351.6 $ 235.8 $ 737.6 Debt securities 25.0 251.6 80.9 — 357.5 Loans — 541.8 11.0 — 552.8 Real estate — — 288.0 — 288.0 Total Assets Measured at Fair Value $ 188.2 $ 828.5 $ 731.5 $ 235.8 $ 1,984.0 Liabilities Other liabilities $ 2.0 $ — $ — $ — $ 2.0 (in millions) Level 1 Level 2 Level 3 NAV as a Total as of September 30, 2019 Assets Investments Equity securities $ 195.1 $ 223.9 $ 296.4 $ 204.1 $ 919.5 Debt securities 0.1 1,083.6 131.4 — 1,215.1 Loans — — 16.6 — 16.6 Real estate — — 152.7 — 152.7 Total Assets Measured at Fair Value $ 195.2 $ 1,307.5 $ 597.1 $ 204.1 $ 2,303.9 Level 1 assets consist of cash and cash equivalents of CLOs which primarily consist of investments in a money market fund for which the fair value is based on its published NAV, and equity and debt securities for which the fair values are based on quoted market prices. Level 2 assets consist of receivables of CLOs which consist primarily of investment trades pending settlement, debt and equity securities, and loans, the fair values for which are determined using independent third-party broker or dealer price quotes. Level 3 assets consist of equity and debt securities of entities in emerging markets, other equity and debt instruments, real estate and loans for which the fair values are determined using significant unobservable inputs in either a market-based or income-based approach. Investments for which fair value was estimated using reported NAV as a practical expedient consist of nonredeemable real estate and private equity funds. These investments are expected to be returned through distributions over the life of the funds as a result of liquidations of the funds’ underlying assets over a weighted-average period of 4.4 years at both March 31, 2020 and September 30, 2019 . The CIPs’ unfunded commitments to these funds totaled $36.7 million and $168.7 million , of which the Company was contractually obligated to fund $4.5 million and $20.6 million based on its ownership percentage in the CIPs, at March 31, 2020 and September 30, 2019 . Changes in Level 3 assets were as follows: (in millions) Equity Debt Real Estate Loans Total for the three months ended March 31, 2020 Balance at January 1, 2020 $ 329.4 $ 83.4 $ 219.9 $ 14.0 $ 646.7 Realized and unrealized gains (losses) included in investment and other income (losses), net (11.0 ) (6.3 ) 1.8 (1.3 ) (16.8 ) Purchases 36.4 3.6 77.3 — 117.3 Sales and settlements (2.1 ) (0.7 ) — (1.7 ) (4.5 ) Transfers into Level 3 — 2.2 — — 2.2 Transfers out of Level 3 — (1.0 ) — — (1.0 ) Foreign exchange revaluation (1.1 ) (0.3 ) (11.0 ) — (12.4 ) Balance at March 31, 2020 $ 351.6 $ 80.9 $ 288.0 $ 11.0 $ 731.5 Change in unrealized gains (losses) included in net income relating to assets held at March 31, 2020 $ (11.0 ) $ (6.3 ) $ 1.8 $ (1.7 ) $ (17.2 ) (in millions) Equity Debt Real Estate Loans Total for the six months ended March 31, 2020 Balance at October 1, 2019 $ 296.4 $ 131.4 $ 152.7 $ 16.6 $ 597.1 Realized and unrealized losses included in investment and other income (losses), net (10.0 ) (14.3 ) (0.9 ) (1.4 ) (26.6 ) Purchases 68.4 4.3 141.6 — 214.3 Sales and settlements (3.3 ) (1.1 ) — (4.2 ) (8.6 ) Deconsolidation — (40.7 ) — — (40.7 ) Transfers into Level 3 — 2.2 — — 2.2 Transfers out of Level 3 — (1.0 ) — — (1.0 ) Foreign exchange revaluation 0.1 0.1 (5.4 ) — (5.2 ) Balance at March 31, 2020 $ 351.6 $ 80.9 $ 288.0 $ 11.0 $ 731.5 Change in unrealized losses included in net income relating to assets held at March 31, 2020 $ (10.0 ) $ (14.3 ) $ (0.9 ) $ (1.4 ) $ (26.6 ) (in millions) Equity Debt Real Estate Loans Total for the three months ended March 31, 2019 Balance at January 1, 2019 $ 193.6 $ 100.9 $ — $ 39.2 $ 333.7 Acquisition 45.2 39.7 — — 84.9 Realized and unrealized gains (losses) included in investment and other income (losses), net (4.5 ) (3.8 ) 3.4 (0.5 ) (5.4 ) Purchases 25.7 9.4 25.6 — 60.7 Sales (0.3 ) (14.2 ) — (0.3 ) (14.8 ) Foreign exchange revaluation (2.1 ) (0.3 ) 0.1 — (2.3 ) Balance at March 31, 2019 $ 257.6 $ 131.7 $ 29.1 $ 38.4 $ 456.8 Change in unrealized gains (losses) included in net income relating to assets held at March 31, 2019 $ (4.8 ) $ (3.2 ) $ 3.4 $ (0.2 ) $ (4.8 ) (in millions) Equity Debt Real Estate Loans Total for the six months ended March 31, 2019 Balance at October 1, 2018 $ 199.7 $ 118.0 $ — $ 32.3 $ 350.0 Acquisition 45.2 39.7 — — 84.9 Realized and unrealized gains (losses) included in investment and other income (losses), net 6.9 (11.0 ) 3.4 (1.5 ) (2.2 ) Purchases 35.4 9.4 25.6 8.2 78.6 Sales and settlements (1.4 ) (20.2 ) — (0.6 ) (22.2 ) Transfers into Level 3 0.1 — — — 0.1 Transfers out of Level 3 (25.4 ) (3.6 ) — — (29.0 ) Foreign exchange revaluation (2.9 ) (0.6 ) 0.1 — (3.4 ) Balance at March 31, 2019 $ 257.6 $ 131.7 $ 29.1 $ 38.4 $ 456.8 Change in unrealized gains (losses) included in net income relating to assets held at March 31, 2019 $ 7.0 $ (3.9 ) $ 3.4 $ (0.9 ) $ 5.6 There were no transfers into or out of Level 3 during the three months ended March 31, 2019 . Valuation techniques and significant unobservable inputs used in Level 3 fair value measurements were as follows: (in millions) as of March 31, 2020 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Equity securities $ 150.7 Discounted cash flow Discount rate 7.9%–20.0% (12.3%) Discount for lack of marketability 17.0% 115.1 Market pricing Private sale pricing $0.24–$87.73 ($40.70) per share 85.8 Market comparable companies Enterprise value/ 6.8–19.1 (11.5) Discount for lack of marketability 20.0%–25.2% (21.9%) Risk premium 14.3% Enterprise value/ 7.5 Debt securities 64.7 Discounted cash flow Discount rate 3.6%–20.0% (15.6%) Discount for lack of marketability 17.0% 16.2 Market comparable companies Enterprise value/ 0.7 Enterprise value/ 4.0 Real estate 182.5 Discounted cash flow Discount rate 4.5%–5.9% (5.1%) 105.5 Yield capitalization Equivalent yield 4.2%–6.1% (5.2%) Loans 11.0 Discounted cash flow Loss-adjusted discount rate 3.0%–23.9% (12.2%) (in millions) as of September 30, 2019 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Equity securities $ 97.2 Discounted cash flow Discount rate 4.8%–16.3% (10.3%) Discount for lack of marketability 17.0% 22.3 Market pricing Private sale pricing $0.25–$20.13 ($2.06) per share 176.9 Market comparable companies Enterprise value/ 4.5–11.8 (8.1) Discount for lack of marketability 15.0%–30.0% (23.1%) Risk premium 18.9% Enterprise value/ 3.7 Debt securities 115.5 Discounted cash flow Discount rate 4.8%–17.4% (9.7%) Discount for lack of marketability 17.0%–24.7% (22.9%) 15.9 Market comparable companies Price-to-earnings ratio 10.0 Enterprise value/ 21.9 Real estate 84.7 Discounted cash flow Discount rate 6.4%–7.4% (7.1%) 68.0 Yield capitalization Equivalent yield 4.3%–6.1% (5.4%) Loans 16.6 Discounted cash flow Loss-adjusted discount rate 3.0%–23.9% (12.0%) __________________ 1 Based on the relative fair value of the instruments. If the relevant significant inputs used in the market-based valuations, other than the discount for lack of marketability and risk premium, were independently higher (lower) as of March 31, 2020 , the resulting fair value of the assets would be higher (lower). If the relevant significant inputs used in the discounted cash flow or yield capitalization valuations, as well as the discount for lack of marketability and risk premium in the market-based valuations, were independently higher (lower) as of March 31, 2020 , the resulting fair value of the assets would be lower (higher). Financial instruments of CIPs that were not measured at fair value were as follows: (in millions) Fair Value Level March 31, 2020 September 30, 2019 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Asset Cash and cash equivalents 1 $ 189.4 $ 189.4 $ 154.2 $ 154.2 Financial Liability Debt of CLOs 2 $ 495.1 $ 491.8 $ — $ — Other debt 3 118.7 118.7 50.8 51.0 The financial information for the majority of CIPs, including CLOs, is included in the Company’s consolidated financial statements on a lag of between one to three months. In accordance with our policy and amid concerns of the market impact of the COVID-19 pandemic, the Company performed a review of substantially all CIPs that are consolidated on a lag to assess the impact of market declines during the lag period for disclosure purposes. Based on this review, the fair value of investments in these CIPs had declined by approximately 9% during the lag period through March 31, 2020 , with the decline in fair value of investments of CLOs substantially offset by a decline in the carrying value of the debt of CLOs. Approximately 90% of the decline in fair value of investments in these CIPs is offset by the decline in carrying value of the debt of CLOs or attributable to noncontrolling interests, with the remaining approximately 10% representing the Company’s proportionate share in these losses based on its equity interests in the CIPs. Debt Debt of CIPs consisted of the following: March 31, 2020 September 30, 2019 (in millions) Amount Weighted- Average Effective Interest Rate Amount Weighted- Debt of CLOs $ 495.1 3.81% $ — N/A Other debt 118.7 3.46% 50.8 5.09% Total $ 613.8 $ 50.8 The debt of CLOs is measured based on the fair value of the assets of the CLOs less the fair value of the Company’s own economic interests in the CLOs. The debt of CLOs had floating interest rates ranging from 3.01% to 8.81% at March 31, 2020 . The other debt had fixed and floating interest rates ranging from 1.00% to 7.44% at March 31, 2020 , and from 2.08% to 7.94% at September 30, 2019 . The contractual maturities for debt of CIPs at March 31, 2020 were as follows: (in millions) for the fiscal years ending September 30, Amount 2020 (remainder of year) $ 24.3 2021 7.6 2022 — 2023 — 2024 32.5 Thereafter 549.4 Total $ 613.8 Redeemable Noncontrolling Interests Changes in redeemable noncontrolling interests of CIPs were as follows: (in millions) for the six months ended March 31, 2020 2019 Balance at beginning of period $ 746.7 $ 1,043.6 Net (loss) income (19.5 ) 6.1 Net subscriptions (distributions) and other 188.6 (6.2 ) Net deconsolidations (706.7 ) (224.2 ) Balance at End of Period $ 209.1 $ 819.3 Collateralized Loan Obligations The Company recognized $0.2 million of net losses during the three and six months ended March 31, 2020 related to its own economic interests in the CLOs. The unpaid principal balance and fair value of the investments of CLOs as of March 31, 2020 were as follows: (in millions) Amount Unpaid principal balance $ 538.5 Difference between unpaid principal balance and fair value 3.3 Fair Value $ 541.8 Investments 90 days or more past due were immaterial at March 31, 2020 . The unpaid principal balance of the debt of CLOs was $483.8 million at March 31, 2020 .

Nonconsolidated Variable Intere

Nonconsolidated Variable Interest Entities	6 Months Ended
Nonconsolidated Variable Interest Entities	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nonconsolidated Variable Interest Entities	Nonconsolidated Variable Interest Entities Variable interest entities (“VIEs”) for which the Company is not the primary beneficiary consist of sponsored funds and other investment products in which the Company has an equity ownership interest. The Company’s maximum exposure to loss from these VIEs consists of equity investments and investment management and other fee receivables as follows: (in millions) March 31, September 30, Investments $ 496.0 $ 458.1 Receivables 141.6 149.5 Total $ 637.6 $ 607.6 While the Company has no legal or contractual obligation to do so, it routinely makes cash investments in the course of launching sponsored funds. As it has done in the past, the Company also may voluntarily elect to provide its sponsored funds with additional direct or indirect financial support based on its business objectives. The Company did not provide financial or other support to its sponsored funds during the six months ended March 31, 2020 or fiscal year 2019 .

Leases

Leases	6 Months Ended
Leases	Mar. 31, 2020
Leases [Abstract]
Lease Disclosure	Leases Lessee Arrangements Substantially all of the Company’s leases are operating leases relating to real estate. The leases had a weighted-average remaining lease term of 8.9 years as of March 31, 2020 , and generally include one or more options to renew. At the inception of a contract, the Company determines whether it is or contains a lease, which includes consideration of whether there are identified assets in the contract and if the Company has control over such assets. Right-of-use (“ROU”) assets and lease liabilities are recognized for all arrangements that qualify as a lease, except for those with original lease terms of 12 months or less. ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of the future lease payments using an incremental borrowing rate estimated on a collateralized basis with similar terms for the specific interest rate environment. Leases with fixed payments are expensed on a straight-line basis over the lease term. Variable lease payments based on usage, changes in an index or market rate are expensed as incurred. The lease terms include options to extend or terminate the lease when it is reasonably certain they will be exercised. Lease and nonlease payment components are accounted for separately. The Company elected to use hindsight in determining the lease term and evaluating impairment of ROU assets upon adoption of new lease accounting guidance on October 1, 2019 . ROU assets are tested for impairment when there is an indication that the carrying value of an asset may not be recoverable. Lease expense was as follows: Three Months Ended Six Months Ended (in millions) Operating lease cost 1 $ 14.3 $ 28.1 Finance lease cost — 0.3 Variable lease cost 2 0.2 0.5 Total lease expense $ 14.5 $ 28.9 __________________ 1 Substantially all is included in occupancy expense. 2 Consists of operating lease payments. Supplemental cash flow information related to leases was as follows: (in millions) Amount for the six months ended March 31, 2020 Operating cash flows from operating leases included in the measurement of operating lease liabilities $ 19.1 ROU assets obtained in exchange for new operating lease liabilities 12.2 The weighted-average discount rate for the operating lease liabilities as of March 31, 2020 was 2.8% . The maturities of the liabilities were as follows: (in millions) Amount for the fiscal years ending September 30, 2020 (remainder of year) $ 24.8 2021 45.9 2022 43.5 2023 41.2 2024 38.1 Thereafter 155.2 Total lease payments 348.7 Less: interest (39.8 ) Operating lease liabilities $ 308.9 As of September 30, 2019 , future minimum lease payments under long-term non-cancelable operating leases were as follows: (in millions) for the fiscal years ending September 30, Amount 2020 $ 49.5 2021 45.3 2022 40.9 2023 39.1 2024 36.7 Thereafter 149.1 Total Minimum Lease Payments $ 360.6 Lessor Arrangements The Company leases excess owned space in its San Mateo, California corporate headquarters and various other office buildings primarily in the U.S. to third parties. The leases had a weighted-average remaining lease term of 7.5 years as of March 31, 2020 , and generally include one or more options to renew. The maturities of lease payments due to the Company as of March 31, 2020 were as follows: (in millions) Amount for the fiscal years ending September 30, 2020 (remainder of year) $ 15.8 2021 30.3 2022 26.8 2023 26.8 2024 27.7 Thereafter 95.0 Total $ 222.4

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Proposed Acquisition of Legg Mason, Inc. On February 17, 2020 , the Company entered into an agreement to acquire Legg Mason, Inc. (“Legg Mason”). Under the merger agreement, the Company will acquire each outstanding share of Legg Mason common stock for $50 per share in an all-cash transaction, with an estimated aggregate purchase consideration and additional related obligations and fees of approximately $4.7 billion , and assume approximately $2 billion of Legg Mason’s outstanding debt. The merger is subject to approval by the stockholders of Legg Mason and other customary closing conditions, and is expected to close in the fourth quarter of fiscal year 2020 (third quarter of the calendar year). Legal Proceedings The Company is from time to time involved in litigation relating to claims arising in the normal course of business. Management is of the opinion that the ultimate resolution of such claims will not materially affect the Company’s business, financial position, results of operations or liquidity. In management’s opinion, an adequate accrual has been made as of March 31, 2020 to provide for any probable losses that may arise from such matters for which the Company could reasonably estimate an amount. Other Commitments and Contingencies At March 31, 2020 , there were no material changes in the other commitments and contingencies as reported in the Company’s Form 10-K for fiscal year 2019 .

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
Stock-Based Compensation	Mar. 31, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock and stock unit award activity was as follows: (shares in thousands) Time-Based Shares Performance- Based Shares Total Shares Weighted- Average Grant-Date Fair Value for the six months ended March 31, 2020 Nonvested balance at October 1, 2019 3,778 1,854 5,632 $ 34.06 Granted 4,517 118 4,635 27.88 Vested (542 ) (374 ) (916 ) 34.35 Forfeited/canceled (220 ) (534 ) (754 ) 33.96 Nonvested Balance at March 31, 2020 7,533 1,064 8,597 $ 30.71 Total unrecognized compensation expense related to nonvested stock and stock unit awards was $184.8 million at March 31, 2020 . This expense is expected to be recognized over a remaining weighted-average vesting period of 2.1 years .

Other Income (Expenses)

Other Income (Expenses)	6 Months Ended
Other Income (Expenses)	Mar. 31, 2020
Other Income and Expenses [Abstract]
Other Income (Expenses)	Other Income (Expenses) Other income (expenses) consisted of the following: Three Months Ended Six Months Ended (in millions) 2020 2019 2020 2019 Investment and Other Income (Losses), Net Dividend income $ 20.0 $ 24.2 $ 38.6 $ 49.8 Interest income 3.7 8.5 9.1 17.5 Losses on investments, net (79.4 ) (0.6 ) (71.6 ) (16.4 ) Income (losses) from investments in equity method investees (159.4 ) 47.2 (120.3 ) 9.6 Gain on swap agreement 31.4 — 29.1 — Gains (losses) on investments of CIPs, net (68.0 ) 31.8 (76.3 ) (17.2 ) Rental income 7.8 5.0 15.3 9.9 Foreign currency exchange (losses) gains, net (2.4 ) 2.5 (10.9 ) 7.2 Other, net (2.7 ) 0.1 (2.4 ) (0.8 ) Total (249.0 ) 118.7 (189.4 ) 59.6 Interest Expense (4.2 ) (5.7 ) (10.9 ) (12.1 ) Other Income (Expenses), Net $ (253.2 ) $ 113.0 $ (200.3 ) $ 47.5 Substantially all dividend income was generated by investments in nonconsolidated sponsored funds. Interest income was primarily generated by cash equivalents and time deposits. Losses on investments, net consists primarily of realized and unrealized net losses on equity securities measured at fair value. Proceeds from the sale of available-for-sale securities were $1.0 million for the six months ended March 31, 2020 . There were no sales of available-for-sale securities in the three months ended March 31, 2020 or in fiscal year 2019 . Net gains (losses) recognized on equity securities measured at fair value and trading debt securities that were held by the Company at March 31, 2020 and 2019 were $(75.5) million and $(69.4) million for the three and six months ended March 31, 2020 , and $1.5 million and $(10.6) million for the three and six months ended March 31, 2019

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
Accumulated Other Comprehensive Income (Loss)	Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income (loss) by component were as follows: (in millions) Currency Unrealized Unrealized Total for the three months ended March 31, 2020 Balance at January 1, 2020 $ (367.4 ) $ (7.1 ) $ (1.7 ) $ (376.2 ) Other comprehensive income (loss) Other comprehensive income (loss) before reclassifications, net of tax (103.0 ) 0.7 1.9 (100.4 ) Reclassifications to net investment and other income (losses), net of tax 0.5 — — 0.5 Total other comprehensive income (loss) (102.5 ) 0.7 1.9 (99.9 ) Balance at March 31, 2020 $ (469.9 ) $ (6.4 ) $ 0.2 $ (476.1 ) (in millions) Currency Unrealized Unrealized Total for the six months ended March 31, 2020 Balance at October 1, 2019 $ (425.4 ) $ (6.2 ) $ — $ (431.6 ) Other comprehensive income (loss) Other comprehensive loss before reclassifications, net of tax (44.9 ) (0.2 ) — (45.1 ) Reclassifications to net investment and other income (losses), net of tax 0.4 — 0.2 0.6 Total other comprehensive income (loss) (44.5 ) (0.2 ) 0.2 (44.5 ) Balance at March 31, 2020 $ (469.9 ) $ (6.4 ) $ 0.2 $ (476.1 ) (in millions) Currency Unrealized Unrealized Total for the three months ended March 31, 2019 Balance at January 1, 2019 $ (387.5 ) $ (4.6 ) $ (1.5 ) $ (393.6 ) Other comprehensive income (loss) Other comprehensive income (loss) before reclassifications, net of tax 7.6 (0.7 ) (0.1 ) 6.8 Reclassifications to net investment and other income (losses), net of tax 0.3 — — 0.3 Total other comprehensive income (loss) 7.9 (0.7 ) (0.1 ) 7.1 Balance at March 31, 2019 $ (379.6 ) $ (5.3 ) $ (1.6 ) $ (386.5 ) (in millions) Currency Unrealized Unrealized Total for the six months ended March 31, 2019 Balance at October 1, 2018 $ (372.9 ) $ (4.2 ) $ 6.5 $ (370.6 ) Adoption of new accounting guidance — — (8.0 ) (8.0 ) Other comprehensive loss Other comprehensive loss before reclassifications, net of tax (6.8 ) (1.1 ) (0.1 ) (8.0 ) Reclassifications to net investment and other income (losses), net of tax 0.1 — — 0.1 Total other comprehensive loss (6.7 ) (1.1 ) (0.1 ) (7.9 ) Balance at March 31, 2019 $ (379.6 ) $ (5.3 ) $ (1.6 ) $ (386.5 )

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
Significant Accounting Policies (Policies)	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited interim financial statements of Franklin Resources, Inc. (“Franklin”) and its consolidated subsidiaries (collectively, the “Company”) included herein have been prepared by the Company in accordance with the instructions to Form 10-Q and the rules and regulations of the U.S. Securities and Exchange Commission. Under these rules and regulations, some information and footnote disclosures normally included in financial statements prepared under accounting principles generally accepted in the United States of America have been shortened or omitted. Management believes that all adjustments necessary for a fair statement of the financial position and the results of operations for the periods shown have been made. All adjustments are normal and recurring. These financial statements should be read together with the Company’s audited financial statements included in its Form 10-K for the fiscal year ended September 30, 2019 (“fiscal year 2019 ”). Certain comparative amounts for the prior fiscal year period have been reclassified to conform to the financial statement presentation as of and for the period ended March 31, 2020 .
Use of Estimates	Use of Estimates The Company’s consolidated financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America, which require the use of estimates, judgments and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the periods presented. Global concerns about the COVID-19 pandemic have adversely affected, and we expect will continue to adversely affect, our business, financial condition and results of operations including the estimates and assumptions made by management. Significant estimates and assumptions made relate to, among other things, valuations for certain investments which are carried at fair value including those of consolidated investment products, the review of goodwill and intangible assets for impairment, and the calculation of income taxes. Actual results could differ from the estimates, and such differences may be material to the Company’s consolidated financial statements.

Fair Value Measurements Account

Fair Value Measurements Accounting Policies (Policies)	6 Months Ended
Fair Value Measurements Accounting Policies (Policies)	Mar. 31, 2020
Schedule Of Consolidated Investment Products [Line Items]
Fair Value Measurements	Level 1 assets consist primarily of sponsored funds and other equity securities for which the fair values are based on published NAV or quoted market prices. Level 2 assets consist of debt and equity securities for which the fair values are determined using independent third-party broker or dealer price quotes. Level 3 assets consist of debt and equity securities and life settlement contracts for which the fair values are based on discounted cash flows using significant unobservable inputs.
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Fair Value Measurements	Level 1 assets consist of cash and cash equivalents of CLOs which primarily consist of investments in a money market fund for which the fair value is based on its published NAV, and equity and debt securities for which the fair values are based on quoted market prices. Level 2 assets consist of receivables of CLOs which consist primarily of investment trades pending settlement, debt and equity securities, and loans, the fair values for which are determined using independent third-party broker or dealer price quotes. Level 3 assets consist of equity and debt securities of entities in emerging markets, other equity and debt instruments, real estate and loans for which the fair values are determined using significant unobservable inputs in either a market-based or income-based approach.

Consolidation Policies (Policie

Consolidation Policies (Policies)	6 Months Ended
Consolidation Policies (Policies)	Mar. 31, 2020
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Consolidation policy	The financial information for the majority of CIPs, including CLOs, is included in the Company’s consolidated financial statements on a lag of between one to three months. In accordance with our policy and amid concerns of the market impact of the COVID-19 pandemic, the Company performed a review of substantially all CIPs that are consolidated on a lag to assess the impact of market declines during the lag period for disclosure purposes. Based on this review, the fair value of investments in these CIPs had declined by approximately 9% during the lag period through March 31, 2020 , with the decline in fair value of investments of CLOs substantially offset by a decline in the carrying value of the debt of CLOs. Approximately 90% of the decline in fair value of investments in these CIPs is offset by the decline in carrying value of the debt of CLOs or attributable to noncontrolling interests, with the remaining approximately 10% representing the Company’s proportionate share in these losses based on its equity interests in the CIPs.

Leases Accounting Policies (Pol

Leases Accounting Policies (Policies)	6 Months Ended
Leases Accounting Policies (Policies)	Mar. 31, 2020
Accounting Policies [Abstract]
Leases [Policy Text Block]	At the inception of a contract, the Company determines whether it is or contains a lease, which includes consideration of whether there are identified assets in the contract and if the Company has control over such assets. Right-of-use (“ROU”) assets and lease liabilities are recognized for all arrangements that qualify as a lease, except for those with original lease terms of 12 months or less. ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of the future lease payments using an incremental borrowing rate estimated on a collateralized basis with similar terms for the specific interest rate environment. Leases with fixed payments are expensed on a straight-line basis over the lease term. Variable lease payments based on usage, changes in an index or market rate are expensed as incurred. The lease terms include options to extend or terminate the lease when it is reasonably certain they will be exercised. Lease and nonlease payment components are accounted for separately. The Company elected to use hindsight in determining the lease term and evaluating impairment of ROU assets upon adoption of new lease accounting guidance on October 1, 2019 . ROU assets are tested for impairment when there is an indication that the carrying value of an asset may not be recoverable.

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
Earnings per Share (Tables)	Mar. 31, 2020
Earnings Per Share [Abstract]
Components of basic and diluted earnings per share	The components of basic and diluted earnings per share were as follows: (in millions, except per share data) Three Months Ended Six Months Ended 2020 2019 2020 2019 Net income attributable to Franklin Resources, Inc. $ 79.1 $ 367.5 $ 429.6 $ 643.4 Less: allocation of earnings to participating nonvested stock and stock unit awards 1.8 3.8 5.7 6.0 Net Income Available to Common Stockholders $ 77.3 $ 363.7 $ 423.9 $ 637.4 Weighted-average shares outstanding – basic 491.5 504.7 493.1 507.6 Dilutive effect of nonparticipating nonvested stock unit awards 0.3 0.4 0.5 0.4 Weighted-Average Shares Outstanding – Diluted 491.8 505.1 493.6 508.0 Earnings per Share Basic $ 0.16 $ 0.72 $ 0.86 $ 1.26 Diluted 0.16 0.72 0.86 1.25

Revenues (Tables)

Revenues (Tables)	6 Months Ended
Revenues (Tables)	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Operating revenues by geographic area	Operating revenues by geographic area were as follows: Earned From Contracts With Customers Not Earned From Contracts With Customers 1 Total (in millions) United States Luxembourg Americas Excluding United States Asia-Pacific Europe, Middle East and Africa, Excluding Luxembourg for the three months ended Investment management fees $ 528.9 $ 236.1 $ 68.2 $ 53.4 $ 21.6 $ — $ 908.2 Sales and distribution fees 232.3 94.8 13.3 1.0 0.3 — 341.7 Shareholder servicing fees 45.8 6.6 0.1 2.3 — — 54.8 Other 6.0 0.3 — 0.2 — 27.1 33.6 Total $ 813.0 $ 337.8 $ 81.6 $ 56.9 $ 21.9 $ 27.1 $ 1,338.3 Earned From Contracts With Customers Not Earned From Contracts With Customers 1 Total (in millions) United States Luxembourg Americas Excluding United States Asia-Pacific Europe, Middle East and Africa, Excluding Luxembourg for the six months ended Investment management fees $ 1,102.0 $ 488.6 $ 143.2 $ 110.1 $ 44.0 $ — $ 1,887.9 Sales and distribution fees 469.7 193.6 27.7 1.5 0.7 — 693.2 Shareholder servicing fees 86.1 13.5 0.2 5.0 — — 104.8 Other 12.1 0.6 — 0.3 1.5 50.6 65.1 Total $ 1,669.9 $ 696.3 $ 171.1 $ 116.9 $ 46.2 $ 50.6 $ 2,751.0 Earned From Contracts With Customers Not Earned From Contracts With Customers 1 Total (in millions) United States Luxembourg Americas Excluding United States Asia-Pacific Europe, Middle East and Africa, Excluding Luxembourg for the three months ended Investment management fees $ 565.6 $ 263.4 $ 82.9 $ 56.9 $ 23.6 $ — $ 992.4 Sales and distribution fees 228.6 113.5 15.8 0.2 0.4 — 358.5 Shareholder servicing fees 47.1 7.4 0.1 2.5 — — 57.1 Other 4.2 0.3 — 0.2 0.1 21.0 25.8 Total $ 845.5 $ 384.6 $ 98.8 $ 59.8 $ 24.1 $ 21.0 $ 1,433.8 Earned From Contracts With Customers Not Earned From Contracts With Customers 1 Total (in millions) United States Luxembourg Americas Excluding United States Asia-Pacific Europe, Middle East and Africa, Excluding Luxembourg for the six months ended Investment management fees $ 1,098.7 $ 531.1 $ 168.5 $ 118.3 $ 47.6 $ — $ 1,964.2 Sales and distribution fees 461.6 217.8 32.4 0.7 0.8 — 713.3 Shareholder servicing fees 92.0 15.1 0.1 5.0 — — 112.2 Other 7.2 0.6 — 0.3 0.4 47.1 55.6 Total $ 1,659.5 $ 764.6 $ 201.0 $ 124.3 $ 48.8 $ 47.1 $ 2,845.3 __________________ 1 Consists of revenues of consolidated investment products.

Investments (Tables)

Investments (Tables)	6 Months Ended
Investments (Tables)	Mar. 31, 2020
Investments [Abstract]
Summary of investments	Investments consisted of the following: (in millions) March 31, September 30, Equity securities, at fair value Sponsored funds $ 801.5 $ 466.4 Other equity securities 39.4 63.6 Total equity securities, at fair value 840.9 530.0 Debt securities Trading 40.0 44.2 Available-for-sale 1.4 4.0 Total debt securities 41.4 48.2 Investments in equity method investees 862.0 933.4 Other investments 73.7 44.2 Total $ 1,818.0 $ 1,555.8

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value on a recurring basis	The assets and liabilities measured at fair value on a recurring basis were as follows: (in millions) Level 1 Level 2 Level 3 NAV as a Practical Expedient Total as of March 31, 2020 Assets Equity securities, at fair value Sponsored funds $ 743.5 $ — $ — $ 58.0 $ 801.5 Other equity securities 15.4 3.7 0.9 19.4 39.4 Debt securities Trading — 23.6 16.4 — 40.0 Available-for-sale — 1.4 — — 1.4 Life settlement contracts — — 10.4 — 10.4 Total Assets Measured at Fair Value $ 758.9 $ 28.7 $ 27.7 $ 77.4 $ 892.7 Liability Contingent consideration liabilities $ — $ — $ 7.6 $ — $ 7.6 (in millions) Level 1 Level 2 Level 3 NAV as a Total as of September 30, 2019 Assets Equity securities, at fair value Sponsored funds $ 397.0 $ — $ — $ 69.4 $ 466.4 Other equity securities 22.6 3.2 0.8 37.0 63.6 Debt securities Trading — 24.4 19.8 — 44.2 Available-for-sale — 4.0 — — 4.0 Life settlement contracts — — 11.5 — 11.5 Total Assets Measured at Fair Value $ 419.6 $ 31.6 $ 32.1 $ 106.4 $ 589.7
Schedule of changes in Level 3 assets and liability	Changes in the Level 3 assets and liability were as follows: 2020 2019 (in millions) Investments Contingent Investments Contingent for the three months ended March 31, Balance at beginning of period $ 40.2 $ — $ 29.0 $ (40.0 ) Acquisitions — (7.6 ) — — Total realized and unrealized gains (losses) Included in investment and other income (losses), net (0.4 ) — 0.8 — Included in general, administrative and other expense — — — (0.7 ) Purchases — — 5.0 — Sales (2.0 ) — — — Settlements (0.1 ) — (0.9 ) 40.7 Consolidation of investment product (10.0 ) — — — Balance at End of Period $ 27.7 $ (7.6 ) $ 33.9 $ — Change in unrealized gains (losses) included in net income relating to assets and liability held at end of period $ (1.1 ) $ — $ 0.3 $ — 2020 2019 (in millions) Investments Contingent Investments Contingent for the six months ended March 31, Balance at beginning of period $ 32.1 $ — $ 32.6 $ (38.7 ) Acquisitions — (7.6 ) — — Total realized and unrealized gains (losses) Included in investment and other income (losses), net (0.7 ) — 3.6 — Included in general, administrative and other expense — — — (2.0 ) Purchases 12.6 — 5.0 — Sales (3.5 ) — (4.3 ) — Settlements (2.8 ) — (0.9 ) 40.7 Consolidation of investment product (10.0 ) — — — Transfers out of Level 3 — — (2.1 ) — Balance at End of Period $ 27.7 $ (7.6 ) $ 33.9 $ — Change in unrealized gains (losses) included in net income relating to assets and liability held at end of period $ (1.9 ) $ — $ 3.0 $ —
Schedule of valuation techniques and significant unobservable inputs used in level 3 fair value measurements	Valuation techniques and significant unobservable inputs used in the Level 3 fair value measurements were as follows: (in millions) as of March 31, 2020 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Debt securities, trading $ 16.4 Discounted cash flow Discount rate 2.5%–17.8% (7.3%) Risk premium 2.0%–6.1% (3.8%) Life settlement contracts 10.4 Discounted cash flow Life expectancy 18–103 months (53) Discount rate 11.7%–20.0% (15.3%) Contingent consideration liabilities 7.6 Monte Carlo pricing model Revenue discount rate 6.0% (in millions) as of September 30, 2019 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Debt securities, trading $ 19.8 Discounted cash flow Discount rate 2.7%–13.3% (6.7%) Risk premium 2.0%–6.1% (4.2%) Life settlement contracts 11.5 Discounted cash flow Life expectancy 19–107 months (57) Discount rate 8.0%–20.0% (13.2%)
Schedule of financial instruments not measured at fair value	Financial instruments that were not measured at fair value were as follows: (in millions) Fair Value Level March 31, 2020 September 30, 2019 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Assets Cash and cash equivalents 1 $ 5,801.4 $ 5,801.4 $ 5,803.4 $ 5,803.4 Other investments Time deposits 2 16.6 16.6 15.4 15.4 Equity securities 3 46.7 49.3 17.3 19.2 Financial Liability Debt 2 $ 697.2 $ 711.5 $ 696.9 $ 718.7

Consolidated Investment Produ_2

Consolidated Investment Products (Tables)	6 Months Ended
Consolidated Investment Products (Tables)	Mar. 31, 2020
Consolidated Investment Products [Abstract]
Schedule of balances of CIPs	The balances related to CIPs included in the Company’s consolidated balance sheets were as follows: (in millions) March 31, September 30, Assets Cash and cash equivalents $ 234.4 $ 154.2 Receivables 44.4 99.0 Investments, at fair value 1,935.9 2,303.9 Total Assets $ 2,214.7 $ 2,557.1 Liabilities Accounts payable and accrued expenses $ 102.2 $ 81.5 Debt 613.8 50.8 Other liabilities 2.0 — Total liabilities 718.0 132.3 Redeemable Noncontrolling Interests 209.1 746.7 Stockholders ’ Equity Franklin Resources, Inc.’s interests 625.1 1,129.6 Nonredeemable noncontrolling interests 662.5 548.5 Total stockholders’ equity 1,287.6 1,678.1 Total Liabilities, Redeemable Noncontrolling Interests and Stockholders ’ Equity $ 2,214.7 $ 2,557.1
Schedule of assets and liabilities measured at fair value on a recurring basis	Assets of CIPs measured at fair value on a recurring basis were as follows: (in millions) Level 1 Level 2 Level 3 NAV as a Total as of March 31, 2020 Assets Cash and cash equivalents of CLOs $ 45.0 $ — $ — $ — $ 45.0 Receivables of CLOs — 3.1 — — 3.1 Investments Equity securities $ 118.2 $ 32.0 $ 351.6 $ 235.8 $ 737.6 Debt securities 25.0 251.6 80.9 — 357.5 Loans — 541.8 11.0 — 552.8 Real estate — — 288.0 — 288.0 Total Assets Measured at Fair Value $ 188.2 $ 828.5 $ 731.5 $ 235.8 $ 1,984.0 Liabilities Other liabilities $ 2.0 $ — $ — $ — $ 2.0 (in millions) Level 1 Level 2 Level 3 NAV as a Total as of September 30, 2019 Assets Investments Equity securities $ 195.1 $ 223.9 $ 296.4 $ 204.1 $ 919.5 Debt securities 0.1 1,083.6 131.4 — 1,215.1 Loans — — 16.6 — 16.6 Real estate — — 152.7 — 152.7 Total Assets Measured at Fair Value $ 195.2 $ 1,307.5 $ 597.1 $ 204.1 $ 2,303.9
Schedule of changes in Level 3 assets of CIPs	Changes in Level 3 assets were as follows: (in millions) Equity Debt Real Estate Loans Total for the three months ended March 31, 2020 Balance at January 1, 2020 $ 329.4 $ 83.4 $ 219.9 $ 14.0 $ 646.7 Realized and unrealized gains (losses) included in investment and other income (losses), net (11.0 ) (6.3 ) 1.8 (1.3 ) (16.8 ) Purchases 36.4 3.6 77.3 — 117.3 Sales and settlements (2.1 ) (0.7 ) — (1.7 ) (4.5 ) Transfers into Level 3 — 2.2 — — 2.2 Transfers out of Level 3 — (1.0 ) — — (1.0 ) Foreign exchange revaluation (1.1 ) (0.3 ) (11.0 ) — (12.4 ) Balance at March 31, 2020 $ 351.6 $ 80.9 $ 288.0 $ 11.0 $ 731.5 Change in unrealized gains (losses) included in net income relating to assets held at March 31, 2020 $ (11.0 ) $ (6.3 ) $ 1.8 $ (1.7 ) $ (17.2 ) (in millions) Equity Debt Real Estate Loans Total for the six months ended March 31, 2020 Balance at October 1, 2019 $ 296.4 $ 131.4 $ 152.7 $ 16.6 $ 597.1 Realized and unrealized losses included in investment and other income (losses), net (10.0 ) (14.3 ) (0.9 ) (1.4 ) (26.6 ) Purchases 68.4 4.3 141.6 — 214.3 Sales and settlements (3.3 ) (1.1 ) — (4.2 ) (8.6 ) Deconsolidation — (40.7 ) — — (40.7 ) Transfers into Level 3 — 2.2 — — 2.2 Transfers out of Level 3 — (1.0 ) — — (1.0 ) Foreign exchange revaluation 0.1 0.1 (5.4 ) — (5.2 ) Balance at March 31, 2020 $ 351.6 $ 80.9 $ 288.0 $ 11.0 $ 731.5 Change in unrealized losses included in net income relating to assets held at March 31, 2020 $ (10.0 ) $ (14.3 ) $ (0.9 ) $ (1.4 ) $ (26.6 ) (in millions) Equity Debt Real Estate Loans Total for the three months ended March 31, 2019 Balance at January 1, 2019 $ 193.6 $ 100.9 $ — $ 39.2 $ 333.7 Acquisition 45.2 39.7 — — 84.9 Realized and unrealized gains (losses) included in investment and other income (losses), net (4.5 ) (3.8 ) 3.4 (0.5 ) (5.4 ) Purchases 25.7 9.4 25.6 — 60.7 Sales (0.3 ) (14.2 ) — (0.3 ) (14.8 ) Foreign exchange revaluation (2.1 ) (0.3 ) 0.1 — (2.3 ) Balance at March 31, 2019 $ 257.6 $ 131.7 $ 29.1 $ 38.4 $ 456.8 Change in unrealized gains (losses) included in net income relating to assets held at March 31, 2019 $ (4.8 ) $ (3.2 ) $ 3.4 $ (0.2 ) $ (4.8 ) (in millions) Equity Debt Real Estate Loans Total for the six months ended March 31, 2019 Balance at October 1, 2018 $ 199.7 $ 118.0 $ — $ 32.3 $ 350.0 Acquisition 45.2 39.7 — — 84.9 Realized and unrealized gains (losses) included in investment and other income (losses), net 6.9 (11.0 ) 3.4 (1.5 ) (2.2 ) Purchases 35.4 9.4 25.6 8.2 78.6 Sales and settlements (1.4 ) (20.2 ) — (0.6 ) (22.2 ) Transfers into Level 3 0.1 — — — 0.1 Transfers out of Level 3 (25.4 ) (3.6 ) — — (29.0 ) Foreign exchange revaluation (2.9 ) (0.6 ) 0.1 — (3.4 ) Balance at March 31, 2019 $ 257.6 $ 131.7 $ 29.1 $ 38.4 $ 456.8 Change in unrealized gains (losses) included in net income relating to assets held at March 31, 2019 $ 7.0 $ (3.9 ) $ 3.4 $ (0.9 ) $ 5.6
Schedule of valuation techniques and significant unobservable inputs used in Level 3 fair value measurements	Valuation techniques and significant unobservable inputs used in Level 3 fair value measurements were as follows: (in millions) as of March 31, 2020 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Equity securities $ 150.7 Discounted cash flow Discount rate 7.9%–20.0% (12.3%) Discount for lack of marketability 17.0% 115.1 Market pricing Private sale pricing $0.24–$87.73 ($40.70) per share 85.8 Market comparable companies Enterprise value/ 6.8–19.1 (11.5) Discount for lack of marketability 20.0%–25.2% (21.9%) Risk premium 14.3% Enterprise value/ 7.5 Debt securities 64.7 Discounted cash flow Discount rate 3.6%–20.0% (15.6%) Discount for lack of marketability 17.0% 16.2 Market comparable companies Enterprise value/ 0.7 Enterprise value/ 4.0 Real estate 182.5 Discounted cash flow Discount rate 4.5%–5.9% (5.1%) 105.5 Yield capitalization Equivalent yield 4.2%–6.1% (5.2%) Loans 11.0 Discounted cash flow Loss-adjusted discount rate 3.0%–23.9% (12.2%) (in millions) as of September 30, 2019 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Equity securities $ 97.2 Discounted cash flow Discount rate 4.8%–16.3% (10.3%) Discount for lack of marketability 17.0% 22.3 Market pricing Private sale pricing $0.25–$20.13 ($2.06) per share 176.9 Market comparable companies Enterprise value/ 4.5–11.8 (8.1) Discount for lack of marketability 15.0%–30.0% (23.1%) Risk premium 18.9% Enterprise value/ 3.7 Debt securities 115.5 Discounted cash flow Discount rate 4.8%–17.4% (9.7%) Discount for lack of marketability 17.0%–24.7% (22.9%) 15.9 Market comparable companies Price-to-earnings ratio 10.0 Enterprise value/ 21.9 Real estate 84.7 Discounted cash flow Discount rate 6.4%–7.4% (7.1%) 68.0 Yield capitalization Equivalent yield 4.3%–6.1% (5.4%) Loans 16.6 Discounted cash flow Loss-adjusted discount rate 3.0%–23.9% (12.0%)
Schedule of financial instruments of CIPs not measured at fair value	Financial instruments of CIPs that were not measured at fair value were as follows: (in millions) Fair Value Level March 31, 2020 September 30, 2019 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Asset Cash and cash equivalents 1 $ 189.4 $ 189.4 $ 154.2 $ 154.2 Financial Liability Debt of CLOs 2 $ 495.1 $ 491.8 $ — $ — Other debt 3 118.7 118.7 50.8 51.0
Schedule of Debt	Debt of CIPs consisted of the following: March 31, 2020 September 30, 2019 (in millions) Amount Weighted- Average Effective Interest Rate Amount Weighted- Debt of CLOs $ 495.1 3.81% $ — N/A Other debt 118.7 3.46% 50.8 5.09% Total $ 613.8 $ 50.8
Schedule of contractual maturities for debt of CIPs	The contractual maturities for debt of CIPs at March 31, 2020 were as follows: (in millions) for the fiscal years ending September 30, Amount 2020 (remainder of year) $ 24.3 2021 7.6 2022 — 2023 — 2024 32.5 Thereafter 549.4 Total $ 613.8
Schedule of changes in redeemable noncontrolling interests of CIPs	Changes in redeemable noncontrolling interests of CIPs were as follows: (in millions) for the six months ended March 31, 2020 2019 Balance at beginning of period $ 746.7 $ 1,043.6 Net (loss) income (19.5 ) 6.1 Net subscriptions (distributions) and other 188.6 (6.2 ) Net deconsolidations (706.7 ) (224.2 ) Balance at End of Period $ 209.1 $ 819.3
Schedule of unpaid principal balance and fair value of investments and debt of CLOs	The unpaid principal balance and fair value of the investments of CLOs as of March 31, 2020 were as follows: (in millions) Amount Unpaid principal balance $ 538.5 Difference between unpaid principal balance and fair value 3.3 Fair Value $ 541.8

Nonconsolidated Variable Inte_2

Nonconsolidated Variable Interest Entities (Tables)	6 Months Ended
Nonconsolidated Variable Interest Entities (Tables)	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of maximum exposure to loss from nonconsolidated VIEs	The Company’s maximum exposure to loss from these VIEs consists of equity investments and investment management and other fee receivables as follows: (in millions) March 31, September 30, Investments $ 496.0 $ 458.1 Receivables 141.6 149.5 Total $ 637.6 $ 607.6

Leases (Tables)

Leases (Tables)	6 Months Ended
Leases (Tables)	Mar. 31, 2020
Leases [Abstract]
Schedule of lease expenses	Lease expense was as follows: Three Months Ended Six Months Ended (in millions) Operating lease cost 1 $ 14.3 $ 28.1 Finance lease cost — 0.3 Variable lease cost 2 0.2 0.5 Total lease expense $ 14.5 $ 28.9
Supplemental cash flow information related to leases	Supplemental cash flow information related to leases was as follows: (in millions) Amount for the six months ended March 31, 2020 Operating cash flows from operating leases included in the measurement of operating lease liabilities $ 19.1 ROU assets obtained in exchange for new operating lease liabilities 12.2
Schedule of maturities of operating lease liabilities	The maturities of the liabilities were as follows: (in millions) Amount for the fiscal years ending September 30, 2020 (remainder of year) $ 24.8 2021 45.9 2022 43.5 2023 41.2 2024 38.1 Thereafter 155.2 Total lease payments 348.7 Less: interest (39.8 ) Operating lease liabilities $ 308.9 As of September 30, 2019 , future minimum lease payments under long-term non-cancelable operating leases were as follows: (in millions) for the fiscal years ending September 30, Amount 2020 $ 49.5 2021 45.3 2022 40.9 2023 39.1 2024 36.7 Thereafter 149.1 Total Minimum Lease Payments $ 360.6
Schedule of operating lease income	The maturities of lease payments due to the Company as of March 31, 2020 were as follows: (in millions) Amount for the fiscal years ending September 30, 2020 (remainder of year) $ 15.8 2021 30.3 2022 26.8 2023 26.8 2024 27.7 Thereafter 95.0 Total $ 222.4

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
Stock-Based Compensation (Tables)	Mar. 31, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]
Summary of stock and stock unit award activity	Stock and stock unit award activity was as follows: (shares in thousands) Time-Based Shares Performance- Based Shares Total Shares Weighted- Average Grant-Date Fair Value for the six months ended March 31, 2020 Nonvested balance at October 1, 2019 3,778 1,854 5,632 $ 34.06 Granted 4,517 118 4,635 27.88 Vested (542 ) (374 ) (916 ) 34.35 Forfeited/canceled (220 ) (534 ) (754 ) 33.96 Nonvested Balance at March 31, 2020 7,533 1,064 8,597 $ 30.71

Other Income (Expenses) (Tables

Other Income (Expenses) (Tables)	6 Months Ended
Other Income (Expenses) (Tables)	Mar. 31, 2020
Other Income and Expenses [Abstract]
Schedule of other income (expenses)	Other income (expenses) consisted of the following: Three Months Ended Six Months Ended (in millions) 2020 2019 2020 2019 Investment and Other Income (Losses), Net Dividend income $ 20.0 $ 24.2 $ 38.6 $ 49.8 Interest income 3.7 8.5 9.1 17.5 Losses on investments, net (79.4 ) (0.6 ) (71.6 ) (16.4 ) Income (losses) from investments in equity method investees (159.4 ) 47.2 (120.3 ) 9.6 Gain on swap agreement 31.4 — 29.1 — Gains (losses) on investments of CIPs, net (68.0 ) 31.8 (76.3 ) (17.2 ) Rental income 7.8 5.0 15.3 9.9 Foreign currency exchange (losses) gains, net (2.4 ) 2.5 (10.9 ) 7.2 Other, net (2.7 ) 0.1 (2.4 ) (0.8 ) Total (249.0 ) 118.7 (189.4 ) 59.6 Interest Expense (4.2 ) (5.7 ) (10.9 ) (12.1 ) Other Income (Expenses), Net $ (253.2 ) $ 113.0 $ (200.3 ) $ 47.5

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
Accumulated Other Comprehensive Income (Loss) (Tables)	Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of changes in accumulated other comprehensive income (loss) by component	Changes in accumulated other comprehensive income (loss) by component were as follows: (in millions) Currency Unrealized Unrealized Total for the three months ended March 31, 2020 Balance at January 1, 2020 $ (367.4 ) $ (7.1 ) $ (1.7 ) $ (376.2 ) Other comprehensive income (loss) Other comprehensive income (loss) before reclassifications, net of tax (103.0 ) 0.7 1.9 (100.4 ) Reclassifications to net investment and other income (losses), net of tax 0.5 — — 0.5 Total other comprehensive income (loss) (102.5 ) 0.7 1.9 (99.9 ) Balance at March 31, 2020 $ (469.9 ) $ (6.4 ) $ 0.2 $ (476.1 ) (in millions) Currency Unrealized Unrealized Total for the six months ended March 31, 2020 Balance at October 1, 2019 $ (425.4 ) $ (6.2 ) $ — $ (431.6 ) Other comprehensive income (loss) Other comprehensive loss before reclassifications, net of tax (44.9 ) (0.2 ) — (45.1 ) Reclassifications to net investment and other income (losses), net of tax 0.4 — 0.2 0.6 Total other comprehensive income (loss) (44.5 ) (0.2 ) 0.2 (44.5 ) Balance at March 31, 2020 $ (469.9 ) $ (6.4 ) $ 0.2 $ (476.1 ) (in millions) Currency Unrealized Unrealized Total for the three months ended March 31, 2019 Balance at January 1, 2019 $ (387.5 ) $ (4.6 ) $ (1.5 ) $ (393.6 ) Other comprehensive income (loss) Other comprehensive income (loss) before reclassifications, net of tax 7.6 (0.7 ) (0.1 ) 6.8 Reclassifications to net investment and other income (losses), net of tax 0.3 — — 0.3 Total other comprehensive income (loss) 7.9 (0.7 ) (0.1 ) 7.1 Balance at March 31, 2019 $ (379.6 ) $ (5.3 ) $ (1.6 ) $ (386.5 ) (in millions) Currency Unrealized Unrealized Total for the six months ended March 31, 2019 Balance at October 1, 2018 $ (372.9 ) $ (4.2 ) $ 6.5 $ (370.6 ) Adoption of new accounting guidance — — (8.0 ) (8.0 ) Other comprehensive loss Other comprehensive loss before reclassifications, net of tax (6.8 ) (1.1 ) (0.1 ) (8.0 ) Reclassifications to net investment and other income (losses), net of tax 0.1 — — 0.1 Total other comprehensive loss (6.7 ) (1.1 ) (0.1 ) (7.9 ) Balance at March 31, 2019 $ (379.6 ) $ (5.3 ) $ (1.6 ) $ (386.5 )

New Accounting Guidance - Narra

New Accounting Guidance - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2020	Oct. 01, 2019	Sep. 30, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	$ 265.9		$ 0
Operating lease liabilities	$ 308.9		$ 0
ASU 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets		$ 274.5
Operating lease liabilities		315.2
Right-of-use asset net of deferred rent		$ 40.7

Earnings per Share - Narrative

Earnings per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Shares of nonparticipating nonvested stock unit awards excluded from the calculation of diluted EPS	0.5	0.2	0.5	0.3

Earnings per Share - Components

Earnings per Share - Components of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share Reconciliation [Abstract]
Net income attributable to Franklin Resources, Inc.	$ 79.1	$ 367.5	$ 429.6	$ 643.4
Less: allocation of earnings to participating nonvested stock and stock unit awards - basic	1.8	3.8	5.7	6
Less: allocation of earnings to participating nonvested stock and stock unit awards - diluted	1.8	3.8	5.7	6
Net Income Available to Common Stockholders - basic	77.3	363.7	423.9	637.4
Net Income Available to Common Stockholders - diluted	$ 77.3	$ 363.7	$ 423.9	$ 637.4
Weighted-average shares outstanding – basic	491.5	504.7	493.1	507.6
Dilutive effect of nonparticipating nonvested stock unit awards	0.3	0.4	0.5	0.4
Weighted-Average Shares Outstanding – Diluted	491.8	505.1	493.6	508
Earnings per Share [Abstract]
Basic	$ 0.16	$ 0.72	$ 0.86	$ 1.26
Diluted	$ 0.16	$ 0.72	$ 0.86	$ 1.25

Revenues - Schedule of Operatin

Revenues - Schedule of Operating Revenues by Geographic Area (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Not Earned From Contracts With Customers	[1]	$ 27.1	$ 21	$ 50.6	$ 47.1
Other		33.6	25.8	65.1	55.6
Total		1,338.3	1,433.8	2,751	2,845.3
Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		908.2	992.4	1,887.9	1,964.2
Not Earned From Contracts With Customers	[1]	0	0	0	0
Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		341.7	358.5	693.2	713.3
Not Earned From Contracts With Customers	[1]	0	0	0	0
Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		54.8	57.1	104.8	112.2
Not Earned From Contracts With Customers	[1]	0	0	0	0
Other [Member]
Disaggregation of Revenue [Line Items]
Not Earned From Contracts With Customers	[1]	27.1	21	50.6	47.1
United States [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		813	845.5	1,669.9	1,659.5
United States [Member] \| Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		528.9	565.6	1,102	1,098.7
United States [Member] \| Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		232.3	228.6	469.7	461.6
United States [Member] \| Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		45.8	47.1	86.1	92
United States [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		6	4.2	12.1	7.2
Luxembourg [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		337.8	384.6	696.3	764.6
Luxembourg [Member] \| Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		236.1	263.4	488.6	531.1
Luxembourg [Member] \| Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		94.8	113.5	193.6	217.8
Luxembourg [Member] \| Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		6.6	7.4	13.5	15.1
Luxembourg [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		0.3	0.3	0.6	0.6
Americas Excluding United States [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		81.6	98.8	171.1	201
Americas Excluding United States [Member] \| Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		68.2	82.9	143.2	168.5
Americas Excluding United States [Member] \| Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		13.3	15.8	27.7	32.4
Americas Excluding United States [Member] \| Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		0.1	0.1	0.2	0.1
Americas Excluding United States [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		0	0	0	0
Asia-Pacific [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		56.9	59.8	116.9	124.3
Asia-Pacific [Member] \| Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		53.4	56.9	110.1	118.3
Asia-Pacific [Member] \| Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		1	0.2	1.5	0.7
Asia-Pacific [Member] \| Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		2.3	2.5	5	5
Asia-Pacific [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		0.2	0.2	0.3	0.3
Europe, Middle East and Africa, Excluding Luxembourg [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		21.9	24.1	46.2	48.8
Europe, Middle East and Africa, Excluding Luxembourg [Member] \| Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		21.6	23.6	44	47.6
Europe, Middle East and Africa, Excluding Luxembourg [Member] \| Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		0.3	0.4	0.7	0.8
Europe, Middle East and Africa, Excluding Luxembourg [Member] \| Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		0	0	0	0
Europe, Middle East and Africa, Excluding Luxembourg [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Earned From Contracts With Customers		$ 0	$ 0.1	$ 1.5	$ 0.4

[1]	Consists of revenues of consolidated investment products.

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Investments - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Investments [Abstract]
Notional value	$ 60		$ 60
Gain on swap agreement	31.4	$ 0	29.1	$ 0
Other-than-temporary impairment	$ (1.8)		$ (2.1)

Investments - Summary of Invest

Investments - Summary of Investments (Details) - USD ($) $ in Millions	Mar. 31, 2020	Sep. 30, 2019
Investment Holdings [Line Items]
Equity securities, at fair value	$ 840.9	$ 530
Debt securities, trading	40	44.2
Debt securities, available-for-sale	1.4	4
Total debt securities	41.4	48.2
Investments in equity method investees	862	933.4
Other investments	73.7	44.2
Total	1,818	1,555.8
Sponsored funds [Member]
Investment Holdings [Line Items]
Equity securities, at fair value	801.5	466.4
Other equity securities [Member]
Investment Holdings [Line Items]
Equity securities, at fair value	$ 39.4	$ 63.6

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Unfunded commitments	$ 4.3		$ 4.3		$ 4.7
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Transfers into Level 3 - assets	0	$ 0	0	$ 0
Transfers into Level 3 - liabilities	0	$ 0	0	$ 0
Nonredeemable Private Debt, Equity, Infrastructure and Real Estate Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Alternative Investment	36.1		$ 36.1		$ 46.9
Liquidation weighted-average period			10 months 24 days		1 year 3 months 18 days
Private Debt Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Alternative Investment	$ 39.9		$ 39.9		$ 48.6

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liability Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Mar. 31, 2020	Sep. 30, 2019
Assets [Abstract]
Equity securities, at fair value	$ 840.9	$ 530
Debt securities, trading	40	44.2
Debt securities, available-for-sale	1.4	4
Sponsored funds [Member]
Assets [Abstract]
Equity securities, at fair value	801.5	466.4
Other equity securities [Member]
Assets [Abstract]
Equity securities, at fair value	39.4	63.6
Fair Value, Recurring [Member]
Assets [Abstract]
Debt securities, trading	40	44.2
Debt securities, available-for-sale	1.4	4
Life settlement contracts	10.4	11.5
Total Assets Measured at Fair Value	892.7	589.7
Liability [Abstract]
Contingent consideration liabilities	7.6
Fair Value, Recurring [Member] \| Sponsored funds [Member]
Assets [Abstract]
Equity securities, at fair value	801.5	466.4
Fair Value, Recurring [Member] \| Other equity securities [Member]
Assets [Abstract]
Equity securities, at fair value	39.4	63.6
Fair Value, Recurring [Member] \| Level 1 [Member]
Assets [Abstract]
Debt securities, trading	0	0
Debt securities, available-for-sale	0	0
Life settlement contracts	0	0
Total Assets Measured at Fair Value	758.9	419.6
Liability [Abstract]
Contingent consideration liabilities	0
Fair Value, Recurring [Member] \| Level 1 [Member] \| Sponsored funds [Member]
Assets [Abstract]
Equity securities, at fair value	743.5	397
Fair Value, Recurring [Member] \| Level 1 [Member] \| Other equity securities [Member]
Assets [Abstract]
Equity securities, at fair value	15.4	22.6
Fair Value, Recurring [Member] \| Level 2 [Member]
Assets [Abstract]
Debt securities, trading	23.6	24.4
Debt securities, available-for-sale	1.4	4
Life settlement contracts	0	0
Total Assets Measured at Fair Value	28.7	31.6
Liability [Abstract]
Contingent consideration liabilities	0
Fair Value, Recurring [Member] \| Level 2 [Member] \| Sponsored funds [Member]
Assets [Abstract]
Equity securities, at fair value	0	0
Fair Value, Recurring [Member] \| Level 2 [Member] \| Other equity securities [Member]
Assets [Abstract]
Equity securities, at fair value	3.7	3.2
Fair Value, Recurring [Member] \| Level 3 [Member]
Assets [Abstract]
Debt securities, available-for-sale	0	0
Total Assets Measured at Fair Value	27.7	32.1
Fair Value, Recurring [Member] \| Level 3 [Member] \| Sponsored funds [Member]
Assets [Abstract]
Equity securities, at fair value	0	0
Fair Value, Recurring [Member] \| Level 3 [Member] \| Other equity securities [Member]
Assets [Abstract]
Equity securities, at fair value	0.9	0.8
Fair Value, Recurring [Member] \| NAV as a Practical Expedient [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	77.4	106.4
Fair Value, Recurring [Member] \| NAV as a Practical Expedient [Member] \| Sponsored funds [Member]
Assets [Abstract]
Equity securities, at fair value	58	69.4
Fair Value, Recurring [Member] \| NAV as a Practical Expedient [Member] \| Other equity securities [Member]
Assets [Abstract]
Equity securities, at fair value	$ 19.4	$ 37

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Changes in Level 3 Assets and Liability (Details) - Level 3 [Member] - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period - assets	$ 40.2	$ 32.1	$ 29	$ 32.1	$ 32.6
Purchases	0		5	12.6	5
Sales - assets	(2)		0	(3.5)	(4.3)
Settlements - assets	(0.1)		(0.9)	(2.8)	(0.9)
Consolidation of investment products	10		0	10	0
Transfers out of Level 3 - assets	0		0	0	(2.1)
Balance at End of Period - assets	27.7	40.2	33.9	27.7	33.9
Change in unrealized gains (losses) included in net income relating to assets and liability held at end of period - assets	(1.1)		0.3	(1.9)	3
Contingent Consideration Liability [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period - liability	0	0	(40)	0	(38.7)
Acquisitions	(7.6)	0		(7.6)	0
Purchases - liability	0		0	0	0
Sales - liability	0		0	0	0
Settlements - liability	0		40.7	0	40.7
Transfers out of Level 3 - liability			0	0	0
Balance at End of Period - liability	(7.6)	$ 0	0	(7.6)	0
Change in unrealized gains (losses) included in net income relating to assets and liability held at end of period - liability	0		0	0	0
Investment and other income (losses) [Member] \| Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total realized and unrealized gains (losses) - assets	(0.4)		0.8	(0.7)	3.6
Investment and other income (losses) [Member] \| Contingent Consideration Liability [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total realized and unrealized gains (losses) - liability	0		0	0	0
General, administrative and other expense [Member] \| Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total realized and unrealized gains (losses) - assets	0		0	0	0
General, administrative and other expense [Member] \| Contingent Consideration Liability [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total realized and unrealized gains (losses) - liability	$ 0		$ (0.7)	$ 0	$ (2)

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Valuation Techniques and Significant Unobservable Inputs used in Level 3 Fair Value Measurements (Details) $ in Millions		6 Months Ended	12 Months Ended
		Mar. 31, 2020USD ($)	Sep. 30, 2019USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, trading		$ 40	$ 44.2
Fair Value, Recurring [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, trading		40	44.2
Life settlement contracts		10.4	11.5
Contingent consideration liabilities		7.6
Fair Value, Recurring [Member] \| Level 3 [Member] \| Discounted cash flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, trading		16.4	19.8
Life settlement contracts		$ 10.4	$ 11.5
Fair Value, Recurring [Member] \| Level 3 [Member] \| Discounted cash flow [Member] \| Discount rate [Member] \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Trading, Measurement Input		0.025	0.027
Life settlement contracts		0.117	0.080
Fair Value, Recurring [Member] \| Level 3 [Member] \| Discounted cash flow [Member] \| Discount rate [Member] \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Trading, Measurement Input		0.178	0.133
Life settlement contracts		0.200	0.200
Fair Value, Recurring [Member] \| Level 3 [Member] \| Discounted cash flow [Member] \| Discount rate [Member] \| Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Trading, Measurement Input	[1]	0.073	0.067
Life settlement contracts	[1]	0.153	0.132
Fair Value, Recurring [Member] \| Level 3 [Member] \| Discounted cash flow [Member] \| Risk premium [Member] \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Trading, Measurement Input		0.020	0.020
Fair Value, Recurring [Member] \| Level 3 [Member] \| Discounted cash flow [Member] \| Risk premium [Member] \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Trading, Measurement Input		0.061	0.061
Fair Value, Recurring [Member] \| Level 3 [Member] \| Discounted cash flow [Member] \| Risk premium [Member] \| Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Trading, Measurement Input	[1]	0.038	0.042
Fair Value, Recurring [Member] \| Level 3 [Member] \| Discounted cash flow [Member] \| Life expectancy [Member] \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Life Settlement Contracts Measurement Input Term		18 months	19 months
Fair Value, Recurring [Member] \| Level 3 [Member] \| Discounted cash flow [Member] \| Life expectancy [Member] \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Life Settlement Contracts Measurement Input Term		103 months	107 months
Fair Value, Recurring [Member] \| Level 3 [Member] \| Discounted cash flow [Member] \| Life expectancy [Member] \| Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Life Settlement Contracts Measurement Input Term	[1]	53 months	57 months
Fair Value, Recurring [Member] \| Level 3 [Member] \| Monte Carlo Pricing Model [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration liabilities		$ 7.6
Fair Value, Recurring [Member] \| Level 3 [Member] \| Monte Carlo Pricing Model [Member] \| Discount rate [Member] \| Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent Consideration Liabilities Measurement Input	[1]	0.060

[1]	Based on the relative fair value of the instruments.

Fair Value Measurements - Sch_4

Fair Value Measurements - Schedule of Financial Instruments not Measured at Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2020	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2018
Financial Assets [Abstract]
Cash and cash equivalents	$ 6,035.8	$ 5,957.6	$ 5,946	$ 6,910.6
Other investments	73.7	44.2
Carrying Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	5,801.4	5,803.4
Time deposits	16.6	15.4
Financial Liability [Abstract]
Debt	697.2	696.9
Estimated Fair Value [Member] \| Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	5,801.4	5,803.4
Estimated Fair Value [Member] \| Level 2 [Member]
Financial Assets [Abstract]
Time deposits	16.6	15.4
Financial Liability [Abstract]
Debt	711.5	718.7
Equity securities [Member] \| Carrying Value [Member]
Financial Assets [Abstract]
Other investments	46.7	17.3
Equity securities [Member] \| Estimated Fair Value [Member] \| Level 3 [Member]
Financial Assets [Abstract]
Other investments	$ 49.3	$ 19.2

Consolidated Investment Produ_3

Consolidated Investment Products - Narrative (Details) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Mar. 31, 2020USD ($)CIPs	Mar. 31, 2019USD ($)	Mar. 31, 2020USD ($)CIPs	Mar. 31, 2019USD ($)	Sep. 30, 2019USD ($)CIPs
Consolidated Investment Products [Abstract]
Number of consolidated investment products \| CIPs	56		56		60
Number of CLOs	2		2		0
Schedule Of Consolidated Investment Products [Line Items]
CIPs' unfunded commitments	$ 4.3		$ 4.3		$ 4.7
Transfers into Level 3 - assets	0	$ 0	0	$ 0
Debt, unpaid principal balance	697.2		$ 697.2		$ 696.9
Nonredeemable Real Estate and Private Equity Funds [Member]
Schedule Of Consolidated Investment Products [Line Items]
Liquidation weighted-average period			10 months 24 days		1 year 3 months 18 days
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
CIPs' unfunded commitments	36.7		$ 36.7		$ 168.7
Unfunded commitments Company contractually obligated to fund	4.5		4.5		20.6
Transfers into Level 3 - assets	(2.2)	0	(2.2)	(0.1)
Transfers out of Level 3 - assets	(1)	$ 0	$ (1)	$ (29)
Fair value decline during lag period			9.00%
Share of fair value decline during lag period			90.00%
Debt, unpaid principal balance	$ 613.8		$ 613.8		$ 50.8
CIPs [Member] \| Nonredeemable Real Estate and Private Equity Funds [Member]
Schedule Of Consolidated Investment Products [Line Items]
Liquidation weighted-average period			4 years 4 months 24 days		4 years 5 months
CIPs [Member] \| Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Stated interest rate	1.00%		1.00%		2.08%
CIPs [Member] \| Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Stated interest rate	7.44%		7.44%		7.94%
Collateralized loan obligations [Member]
Schedule Of Consolidated Investment Products [Line Items]
Net losses related to its own economic interests	$ (0.2)		$ (0.2)
Debt, unpaid principal balance	483.8		483.8
Collateralized loan obligations [Member] \| CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Debt, unpaid principal balance	$ 495.1		$ 495.1		$ 0
Collateralized loan obligations [Member] \| CIPs [Member] \| Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Stated interest rate	3.01%		3.01%
Collateralized loan obligations [Member] \| CIPs [Member] \| Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Stated interest rate	8.81%		8.81%
Franklin Resources, Inc. [Member]
Schedule Of Consolidated Investment Products [Line Items]
Share of fair value decline during lag period			10.00%

Consolidated Investment Produ_4

Consolidated Investment Products - Schedule of Balances of CIPs (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018
Assets [Abstract]
Cash and cash equivalents	$ 6,035.8		$ 5,957.6	$ 5,946		$ 6,910.6
Receivables	630.8		740
Investments, at fair value	892.7		589.7
Total Assets	14,666.2		14,532.2
Liabilities [Abstract]
Accounts payable and accrued expenses	213.3		222.9
Debt	697.2		696.9
Other	238.4		270.6
Total liabilities	3,703.6		3,161.3
Redeemable Noncontrolling Interests	209.1		746.7
Stockholders' Equity [Abstract]
Franklin Resources, Inc.’s interests	9,903.4		9,906.5
Nonredeemable noncontrolling interests	850.1		717.7
Total stockholders’ equity	10,753.5	$ 10,834.4	10,624.2	10,499.1	$ 10,076.7	10,207.9
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	14,666.2		14,532.2
CIPs [Member]
Assets [Abstract]
Cash and cash equivalents	234.4		154.2
Receivables	44.4		99
Investments, at fair value	1,935.9		2,303.9
Total Assets	2,214.7		2,557.1
Liabilities [Abstract]
Accounts payable and accrued expenses	102.2		81.5
Debt	613.8		50.8
Other	2		0
Total liabilities	718		132.3
Redeemable Noncontrolling Interests	209.1		746.7	$ 819.3		$ 1,043.6
Stockholders' Equity [Abstract]
Franklin Resources, Inc.’s interests	625.1		1,129.6
Nonredeemable noncontrolling interests	662.5		548.5
Total stockholders’ equity	1,287.6		1,678.1
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	$ 2,214.7		$ 2,557.1

Consolidated Investment Produ_5

Consolidated Investment Products - Schedule of Balances of Assets and Liabilities of CIPs Measured at Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2020	Sep. 30, 2019
Assets [Abstract]
Investments, at fair value	$ 892.7	$ 589.7
Collateralized loan obligations [Member]
Assets [Abstract]
Investments, at fair value	541.8
CIPs [Member]
Assets [Abstract]
Investments, at fair value	1,935.9	2,303.9
Fair Value, Recurring [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	892.7	589.7
Fair Value, Recurring [Member] \| Level 1 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	758.9	419.6
Fair Value, Recurring [Member] \| Level 2 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	28.7	31.6
Fair Value, Recurring [Member] \| Level 3 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	27.7	32.1
Fair Value, Recurring [Member] \| NAV as a Practical Expedient [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	77.4	106.4
Fair Value, Recurring [Member] \| Collateralized loan obligations [Member]
Assets [Abstract]
Cash and cash equivalents of CLOs	45
Receivables of CLOs	3.1
Fair Value, Recurring [Member] \| Collateralized loan obligations [Member] \| Level 1 [Member]
Assets [Abstract]
Cash and cash equivalents of CLOs	45
Receivables of CLOs	0
Fair Value, Recurring [Member] \| Collateralized loan obligations [Member] \| Level 2 [Member]
Assets [Abstract]
Cash and cash equivalents of CLOs	0
Receivables of CLOs	3.1
Fair Value, Recurring [Member] \| Collateralized loan obligations [Member] \| Level 3 [Member]
Assets [Abstract]
Cash and cash equivalents of CLOs	0
Receivables of CLOs	0
Fair Value, Recurring [Member] \| CIPs [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	1,984	2,303.9
Liability [Abstract]
Other liabilities	2
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 1 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	188.2	195.2
Liability [Abstract]
Other liabilities	2
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 2 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	828.5	1,307.5
Liability [Abstract]
Other liabilities	0
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	731.5	597.1
Liability [Abstract]
Other liabilities	0
Fair Value, Recurring [Member] \| CIPs [Member] \| NAV as a Practical Expedient [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	235.8	204.1
Equity securities [Member] \| Fair Value, Recurring [Member] \| CIPs [Member]
Assets [Abstract]
Investments, at fair value	737.6	919.5
Equity securities [Member] \| Fair Value, Recurring [Member] \| CIPs [Member] \| Level 1 [Member]
Assets [Abstract]
Investments, at fair value	118.2	195.1
Equity securities [Member] \| Fair Value, Recurring [Member] \| CIPs [Member] \| Level 2 [Member]
Assets [Abstract]
Investments, at fair value	32	223.9
Equity securities [Member] \| Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member]
Assets [Abstract]
Investments, at fair value	351.6	296.4
Equity securities [Member] \| Fair Value, Recurring [Member] \| CIPs [Member] \| NAV as a Practical Expedient [Member]
Assets [Abstract]
Investments, at fair value	235.8	204.1
Debt Securities [Member] \| Fair Value, Recurring [Member] \| CIPs [Member]
Assets [Abstract]
Investments, at fair value	357.5	1,215.1
Debt Securities [Member] \| Fair Value, Recurring [Member] \| CIPs [Member] \| Level 1 [Member]
Assets [Abstract]
Investments, at fair value	25	0.1
Debt Securities [Member] \| Fair Value, Recurring [Member] \| CIPs [Member] \| Level 2 [Member]
Assets [Abstract]
Investments, at fair value	251.6	1,083.6
Debt Securities [Member] \| Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member]
Assets [Abstract]
Investments, at fair value	80.9	131.4
Loans [Member] \| Fair Value, Recurring [Member] \| CIPs [Member]
Assets [Abstract]
Investments, at fair value	552.8	16.6
Loans [Member] \| Fair Value, Recurring [Member] \| CIPs [Member] \| Level 1 [Member]
Assets [Abstract]
Investments, at fair value	0	0
Loans [Member] \| Fair Value, Recurring [Member] \| CIPs [Member] \| Level 2 [Member]
Assets [Abstract]
Investments, at fair value	541.8	0
Loans [Member] \| Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member]
Assets [Abstract]
Investments, at fair value	11	16.6
Real Estate [Member] \| Fair Value, Recurring [Member] \| CIPs [Member]
Assets [Abstract]
Investments, at fair value	288	152.7
Real Estate [Member] \| Fair Value, Recurring [Member] \| CIPs [Member] \| Level 1 [Member]
Assets [Abstract]
Investments, at fair value	0	0
Real Estate [Member] \| Fair Value, Recurring [Member] \| CIPs [Member] \| Level 2 [Member]
Assets [Abstract]
Investments, at fair value	0	0
Real Estate [Member] \| Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member]
Assets [Abstract]
Investments, at fair value	$ 288	$ 152.7

Consolidated Investment Produ_6

Consolidated Investment Products - Schedule of Changes in Level 3 Assets of CIPs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Schedule Of Consolidated Investment Products [Line Items]
Transfers into Level 3	$ 0	$ 0	$ 0	$ 0
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Transfers into Level 3	(2.2)	0	(2.2)	(0.1)
Transfers out of Level 3	(1)	0	(1)	(29)
CIPs [Member] \| Level 3 [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of period - assets	646.7	333.7	597.1	350
Acquisition		84.9		84.9
Realized and unrealized gains (losses) included in investment and other income (losses), net	(16.8)	(5.4)	(26.6)	(2.2)
Purchases	117.3	60.7	214.3	78.6
Sales and settlements	(4.5)		(8.6)	(22.2)
Sales		(14.8)
Deconsolidation			(40.7)
Transfers into Level 3	2.2		2.2	(0.1)
Transfers out of Level 3	(1)		(1)	(29)
Foreign exchange revaluation	(12.4)	(2.3)	(5.2)	(3.4)
Balance at End of Period - assets	731.5	456.8	731.5	456.8
Change in unrealized gains (losses) included in net income relating to assets held at March 31, 2020	(17.2)	(4.8)	(26.6)	5.6
CIPs [Member] \| Level 3 [Member] \| Equity securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of period - assets	329.4	193.6	296.4	199.7
Acquisition		45.2		45.2
Realized and unrealized gains (losses) included in investment and other income (losses), net	(11)	(4.5)	(10)	6.9
Purchases	36.4	25.7	68.4	35.4
Sales and settlements	(2.1)		(3.3)	(1.4)
Sales		(0.3)
Deconsolidation			0
Transfers into Level 3	0		0	0.1
Transfers out of Level 3	0		0	(25.4)
Foreign exchange revaluation	(1.1)	(2.1)	0.1	(2.9)
Balance at End of Period - assets	351.6	257.6	351.6	257.6
Change in unrealized gains (losses) included in net income relating to assets held at March 31, 2020	(11)	(4.8)	(10)	7
CIPs [Member] \| Level 3 [Member] \| Debt Securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of period - assets	83.4	100.9	131.4	118
Acquisition		39.7		39.7
Realized and unrealized gains (losses) included in investment and other income (losses), net	(6.3)	(3.8)	(14.3)	(11)
Purchases	3.6	9.4	4.3	9.4
Sales and settlements	(0.7)		(1.1)	(20.2)
Sales		(14.2)
Deconsolidation			(40.7)
Transfers into Level 3	2.2		2.2	0
Transfers out of Level 3	(1)		(1)	(3.6)
Foreign exchange revaluation	(0.3)	(0.3)	0.1	(0.6)
Balance at End of Period - assets	80.9	131.7	80.9	131.7
Change in unrealized gains (losses) included in net income relating to assets held at March 31, 2020	(6.3)	(3.2)	(14.3)	(3.9)
CIPs [Member] \| Level 3 [Member] \| Real Estate [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of period - assets	219.9	0	152.7	0
Acquisition		0		0
Realized and unrealized gains (losses) included in investment and other income (losses), net	1.8	3.4	(0.9)	3.4
Purchases	77.3	25.6	141.6	25.6
Sales and settlements	0		0	0
Sales		0
Deconsolidation			0
Transfers into Level 3	0		0	0
Transfers out of Level 3	0		0	0
Foreign exchange revaluation	(11)	0.1	(5.4)	0.1
Balance at End of Period - assets	288	29.1	288	29.1
Change in unrealized gains (losses) included in net income relating to assets held at March 31, 2020	1.8	3.4	(0.9)	3.4
CIPs [Member] \| Level 3 [Member] \| Loans [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of period - assets	14	39.2	16.6	32.3
Acquisition		0		0
Realized and unrealized gains (losses) included in investment and other income (losses), net	(1.3)	(0.5)	(1.4)	(1.5)
Purchases	0	0	0	8.2
Sales and settlements	(1.7)		(4.2)	(0.6)
Sales		(0.3)
Deconsolidation			0
Transfers into Level 3	0		0	0
Transfers out of Level 3	0		0	0
Foreign exchange revaluation	0	0	0	0
Balance at End of Period - assets	11	38.4	11	38.4
Change in unrealized gains (losses) included in net income relating to assets held at March 31, 2020	$ (1.7)	$ (0.2)	$ (1.4)	$ (0.9)

Consolidated Investment Produ_7

Consolidated Investment Products - Schedule of Valuation Techniques and Significant Unobservable Inputs used in Level 3 Fair Value Measurements (Details) $ in Millions		Mar. 31, 2020USD ($)$ / shares	Sep. 30, 2019USD ($)$ / shares
Schedule Of Consolidated Investment Products [Line Items]
Investments, Fair value Disclosure		$ 892.7	$ 589.7
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, Fair value Disclosure		1,935.9	2,303.9
Fair Value, Recurring [Member] \| CIPs [Member] \| Equity securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, Fair value Disclosure		737.6	919.5
Fair Value, Recurring [Member] \| CIPs [Member] \| Debt Securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, Fair value Disclosure		357.5	1,215.1
Fair Value, Recurring [Member] \| CIPs [Member] \| Real Estate [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, Fair value Disclosure		288	152.7
Fair Value, Recurring [Member] \| CIPs [Member] \| Loans [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, Fair value Disclosure		552.8	16.6
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, Fair value Disclosure		351.6	296.4
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity securities [Member] \| Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, Fair value Disclosure		$ 150.7	$ 97.2
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity securities [Member] \| Discounted cash flow [Member] \| Discount rate [Member] \| Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.079	0.048
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity securities [Member] \| Discounted cash flow [Member] \| Discount rate [Member] \| Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.200	0.163
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity securities [Member] \| Discounted cash flow [Member] \| Discount rate [Member] \| Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	0.123	0.103
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity securities [Member] \| Discounted cash flow [Member] \| Discount for lack of marketability [Member] \| Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	0.170	0.170
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity securities [Member] \| Market comparable companies [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, Fair value Disclosure		$ 85.8	$ 176.9
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity securities [Member] \| Market comparable companies [Member] \| Discount for lack of marketability [Member] \| Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.200	0.150
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity securities [Member] \| Market comparable companies [Member] \| Discount for lack of marketability [Member] \| Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.252	0.300
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity securities [Member] \| Market comparable companies [Member] \| Discount for lack of marketability [Member] \| Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	0.219	0.231
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity securities [Member] \| Market comparable companies [Member] \| EBITDA multiple [Member] \| Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		6.8	4.5
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity securities [Member] \| Market comparable companies [Member] \| EBITDA multiple [Member] \| Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		19.1	11.8
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity securities [Member] \| Market comparable companies [Member] \| EBITDA multiple [Member] \| Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	11.5	8.1
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity securities [Member] \| Market comparable companies [Member] \| Risk premium [Member] \| Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	0.143	0.189
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity securities [Member] \| Market comparable companies [Member] \| Revenue multiple [Member] \| Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	7.5	3.7
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity securities [Member] \| Market pricing [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, Fair value Disclosure		$ 115.1	$ 22.3
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity securities [Member] \| Market pricing [Member] \| Private sale pricing [Member] \| Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input \| $ / shares		0.24	0.25
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity securities [Member] \| Market pricing [Member] \| Private sale pricing [Member] \| Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input \| $ / shares		87.73	20.13
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity securities [Member] \| Market pricing [Member] \| Private sale pricing [Member] \| Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input \| $ / shares	[1]	40.70	2.06
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Debt Securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, Fair value Disclosure		$ 80.9	$ 131.4
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Debt Securities [Member] \| Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, Fair value Disclosure		$ 64.7	$ 115.5
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Debt Securities [Member] \| Discounted cash flow [Member] \| Discount rate [Member] \| Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.036	0.048
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Debt Securities [Member] \| Discounted cash flow [Member] \| Discount rate [Member] \| Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.200	0.174
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Debt Securities [Member] \| Discounted cash flow [Member] \| Discount rate [Member] \| Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	0.156	0.097
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Debt Securities [Member] \| Discounted cash flow [Member] \| Discount for lack of marketability [Member] \| Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.170	0.170
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Debt Securities [Member] \| Discounted cash flow [Member] \| Discount for lack of marketability [Member] \| Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.170	0.247
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Debt Securities [Member] \| Discounted cash flow [Member] \| Discount for lack of marketability [Member] \| Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	0.170	0.229
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Debt Securities [Member] \| Market comparable companies [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, Fair value Disclosure		$ 16.2	$ 15.9
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Debt Securities [Member] \| Market comparable companies [Member] \| EBITDA multiple [Member] \| Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	4	21.9
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Debt Securities [Member] \| Market comparable companies [Member] \| Price-to-earnings ratio [Member] \| Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	0.7	10
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Real Estate [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, Fair value Disclosure		$ 288	$ 152.7
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Real Estate [Member] \| Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, Fair value Disclosure		$ 182.5	$ 84.7
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Real Estate [Member] \| Discounted cash flow [Member] \| Discount rate [Member] \| Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.045	0.064
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Real Estate [Member] \| Discounted cash flow [Member] \| Discount rate [Member] \| Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.059	0.074
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Real Estate [Member] \| Discounted cash flow [Member] \| Discount rate [Member] \| Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	0.051	0.071
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Real Estate [Member] \| Yield capitalization [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, Fair value Disclosure		$ 105.5	$ 68
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Real Estate [Member] \| Yield capitalization [Member] \| Equivalent yield [Member] \| Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.042	0.043
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Real Estate [Member] \| Yield capitalization [Member] \| Equivalent yield [Member] \| Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.061	0.061
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Real Estate [Member] \| Yield capitalization [Member] \| Equivalent yield [Member] \| Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	0.052	0.054
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Loans [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, Fair value Disclosure		$ 11	$ 16.6
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Loans [Member] \| Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, Fair value Disclosure		$ 11	$ 16.6
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Loans [Member] \| Discounted cash flow [Member] \| Loss-adjusted discount rate [Member] \| Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.030	0.030
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Loans [Member] \| Discounted cash flow [Member] \| Loss-adjusted discount rate [Member] \| Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.239	0.239
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Loans [Member] \| Discounted cash flow [Member] \| Loss-adjusted discount rate [Member] \| Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	0.122	0.120

[1]	Based on the relative fair value of the instruments.

Consolidated Investment Produ_8

Consolidated Investment Products - Schedule of Financial Instruments of CIPs not Measured at Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2020	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2018
Financial Assets [Abstract]
Cash and cash equivalents	$ 6,035.8	$ 5,957.6	$ 5,946	$ 6,910.6
Financial Liability [Abstract]
Debt of CLOs	697.2	696.9
CIPs [Member]
Financial Assets [Abstract]
Cash and cash equivalents	234.4	154.2
Financial Liability [Abstract]
Debt of CLOs	613.8	50.8
Other debt	118.7	50.8
Carrying Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	5,801.4	5,803.4
Carrying Value [Member] \| CIPs [Member]
Financial Assets [Abstract]
Cash and cash equivalents	189.4	154.2
Financial Liability [Abstract]
Other debt	118.7	50.8
Estimated Fair Value [Member] \| Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	5,801.4	5,803.4
Estimated Fair Value [Member] \| CIPs [Member] \| Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	189.4	154.2
Estimated Fair Value [Member] \| CIPs [Member] \| Level 3 [Member]
Financial Liability [Abstract]
Other debt	118.7	51
Collateralized loan obligations [Member]
Financial Liability [Abstract]
Debt of CLOs	483.8
Collateralized loan obligations [Member] \| CIPs [Member]
Financial Liability [Abstract]
Debt of CLOs	495.1	0
Collateralized loan obligations [Member] \| Carrying Value [Member] \| CIPs [Member]
Financial Liability [Abstract]
Debt of CLOs	495.1	0
Collateralized loan obligations [Member] \| Estimated Fair Value [Member] \| CIPs [Member] \| Level 2 [Member]
Financial Liability [Abstract]
Debt of CLOs	$ 491.8	$ 0

Consolidated Investment Produ_9

Consolidated Investment Products - Schedule of Debt of CIPs (Details) - USD ($) $ in Millions	Mar. 31, 2020	Sep. 30, 2019
Schedule Of Consolidated Investment Products [Line Items]
Debt	$ 697.2	$ 696.9
Collateralized loan obligations [Member]
Schedule Of Consolidated Investment Products [Line Items]
Debt	483.8
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Debt	613.8	50.8
Other debt	$ 118.7	$ 50.8
Effective Interest Rate	3.46%	5.09%
CIPs [Member] \| Collateralized loan obligations [Member]
Schedule Of Consolidated Investment Products [Line Items]
Debt	$ 495.1	$ 0
Effective Interest Rate	3.81%

Consolidated Investment Prod_10

Consolidated Investment Products - Schedule of Contractual Maturities for Debt of CIPs (Details) - USD ($) $ in Millions	Mar. 31, 2020	Sep. 30, 2019
Schedule Of Consolidated Investment Products [Line Items]
Total	$ 697.2	$ 696.9
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
2020 (remainder of year)	24.3
2021	7.6
2022	0
2023	0
2024	32.5
Thereafter	549.4
Total	$ 613.8

Consolidated Investment Prod_11

Consolidated Investment Products - Schedule of Redeemable Noncontrolling Interest of CIPs (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2020	Mar. 31, 2019
Temporary Equity [Line Items]
Balance at beginning of period		$ 746.7			$ 746.7
Net (loss) income	$ (28.5)		$ 21.5		(19.5)	$ 6.1
Net subscriptions (distributions) and other	89.7	28.2	51	$ 23.1
Net deconsolidations	(0.6)	(0.7)	24.3
Balance at End of Period	209.1				209.1
CIPs [Member]
Temporary Equity [Line Items]
Balance at beginning of period		$ 746.7		$ 1,043.6	746.7	1,043.6
Net (loss) income					(19.5)	6.1
Balance at End of Period	$ 209.1		$ 819.3		209.1	819.3
CIPs [Member] \| Redeemable Noncontrolling Interests [Member]
Temporary Equity [Line Items]
Net subscriptions (distributions) and other					188.6	(6.2)
Net deconsolidations					$ (706.7)	$ (224.2)

Consolidated Investment Prod_12

Consolidated Investment Products - Schedule of Unpaid Principal Balance and Fair Value of Investments and Debt of CLOs (Details) - USD ($) $ in Millions	Mar. 31, 2020	Sep. 30, 2019
Schedule Of Consolidated Investment Products [Line Items]
Unpaid principal balance	$ 1,818	$ 1,555.8
Investments, Fair value Disclosure	892.7	$ 589.7
Collateralized loan obligations [Member]
Schedule Of Consolidated Investment Products [Line Items]
Unpaid principal balance	538.5
Difference between unpaid principal balance and fair value	3.3
Investments, Fair value Disclosure	$ 541.8

Nonconsolidated Variable Inte_3

Nonconsolidated Variable Interest Entities - Schedule of Maximum Exposure to Loss (Details) - Nonconsolidated VIEs [Member] - USD ($) $ in Millions	Mar. 31, 2020	Sep. 30, 2019
Variable Interest Entity [Line Items]
Maximum exposure to loss	$ 637.6	$ 607.6
Investments [Member]
Variable Interest Entity [Line Items]
Maximum exposure to loss	496	458.1
Receivables [Member]
Variable Interest Entity [Line Items]
Maximum exposure to loss	$ 141.6	$ 149.5

Leases Leases - Narrative (Deta

Leases Leases - Narrative (Details)	6 Months Ended
Leases Leases - Narrative (Details)	Mar. 31, 2020
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	8 years 10 months 24 days
Operating Lease, Weighted Average Discount Rate, Percent	2.80%
Lessor Operating Lease Weighted Average Remaining Lease Term	7 years 6 months

Leases - Lease Expenses (Detail

Leases - Lease Expenses (Details) - USD ($) $ in Millions		3 Months Ended	6 Months Ended
Leases - Lease Expenses (Details) - USD ($) $ in Millions		Mar. 31, 2020	Mar. 31, 2020
Lease, Cost [Abstract]
Operating lease cost	[1]	$ 14.3	$ 28.1
Finance lease cost		0	0.3
Variable lease costs	[2]	0.2	0.5
Total lease expense		$ 14.5	$ 28.9

[1]	Substantially all is included in occupancy expense.
[2]	Consists of operating lease payments.

Leases Leases - Cash Flow Suppl

Leases Leases - Cash Flow Supplemental Disclosure (Details) $ in Millions	6 Months Ended
	Mar. 31, 2020USD ($)
Supplemental Cash Flow Information [Abstract]
Operating cash flows from operating leases included in the measurement of operating lease liabilities	$ 19.1
ROU assets obtained in exchange for new operating lease liabilities	$ 12.2

Leases - Operating Lease Liabil

Leases - Operating Lease Liability Maturities (Details) - USD ($) $ in Millions	Mar. 31, 2020	Sep. 30, 2019
Leases [Abstract]
2020 (remainder of year)	$ 24.8	$ 49.5
2021	45.9	45.3
2022	43.5	40.9
2023	41.2	39.1
2024	38.1	36.7
Thereafter	155.2	149.1
Total lease payments	348.7	360.6
Less: interest	39.8
Operating lease liabilities	$ 308.9	$ 0

Leases - Lessor Operating Lease

Leases - Lessor Operating Lease Payments To Be Received Maturities (Details) $ in Millions	Mar. 31, 2020USD ($)
Leases [Abstract]
2020 (remainder of year)	$ 15.8
2021	30.3
2022	26.8
2023	26.8
2024	27.7
Thereafter	95
Total	$ 222.4

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies (Details) - Legg Mason [Member] $ / shares in Units, $ in Billions	Feb. 17, 2020USD ($)$ / shares
Other Commitments [Line Items]
Business acquisition, Share price \| $ / shares	$ 50
Purchase consideration in cash	$ 4.7
Amount of debt assumed	$ 2

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ in Millions	6 Months Ended
	Mar. 31, 2020USD ($)
Share-based Payment Arrangement, Noncash Expense [Abstract]
Unrecognized compensation expense related to nonvested stock and stock unit awards	$ 184.8
Remaining weighted-average vesting period	2 years 1 month 6 days

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock and Stock Unit Award Activity (Details) shares in Thousands	6 Months Ended
	Mar. 31, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested balance at October 1, 2019	5,632
Granted	4,635
Vested	(916)
Forfeited/canceled	(754)
Nonvested Balance at March 31, 2020	8,597
Nonvested beginning balance, Weighted Average Grant Date Fair Value \| $ / shares	$ 34.06
Weighted Average Grant Date Fair Value of shares granted \| $ / shares	27.88
Weighted Average Grant Date Fair Value of shares vested \| $ / shares	34.35
Weighted Average Grant Date Fair Value of shares forfeited/canceled \| $ / shares	33.96
Nonvested ending balance, Weighted Average Grant Date Fair Value \| $ / shares	$ 30.71
Time-Based Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested balance at October 1, 2019	3,778
Granted	4,517
Vested	(542)
Forfeited/canceled	(220)
Nonvested Balance at March 31, 2020	7,533
Performance-Based Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested balance at October 1, 2019	1,854
Granted	118
Vested	(374)
Forfeited/canceled	(534)
Nonvested Balance at March 31, 2020	1,064

Other Income (Expenses) - Narra

Other Income (Expenses) - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Other Income and Expenses [Abstract]
Proceeds from the sale of available-for-sale securities			$ 1
Net gains (losses) recognized on equity securities measured at fair value and trading debt securities	$ (75.5)	$ 1.5	$ (69.4)	$ (10.6)

Other Income (Expenses) - Sched

Other Income (Expenses) - Schedule of Other Income (Expense) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Other Income and Expenses [Abstract]
Dividend income	$ 20	$ 24.2	$ 38.6	$ 49.8
Interest income	3.7	8.5	9.1	17.5
Income (losses) from investments in equity method investees	(159.4)	47.2	(120.3)	9.6
Gain on swap agreement	31.4	0	29.1	0
Rental income	7.8	5	15.3	9.9
Foreign currency exchange (losses) gains, net	(2.4)	2.5	(10.9)	7.2
Other expense, net	(2.7)		(2.4)	(0.8)
Other income, net		0.1
Total	(249)	118.7	(189.4)	59.6
Interest Expense	(4.2)	(5.7)	(10.9)	(12.1)
Other Income (Expenses), Net	(253.2)	113	(200.3)	47.5
Schedule Of Consolidated Investment Products [Line Items]
Losses on investments, net	(79.4)	(0.6)	(71.6)	(16.4)
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Losses on investments, net	$ (68)	$ 31.8	$ (76.3)	$ (17.2)

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income (Loss) by Component (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2020	Mar. 31, 2019	Oct. 01, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	$ (376.2)	$ (431.6)	$ (393.6)	$ (370.6)	$ (431.6)	$ (370.6)
Other comprehensive income (loss) before reclassifications, net of tax	(100.4)		6.8		(45.1)	(8)
Reclassifications to net investment and other income (losses), net of tax	0.5		0.3		0.6	0.1
Total other comprehensive income (loss)	(99.9)	55.4	7.1	(15)	(44.5)	(7.9)
Balance at end of period	(476.1)	(376.2)	(386.5)	(393.6)	(476.1)	(386.5)
ASU 2016-01 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Adoption of new accounting guidance							$ (8)
Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(367.4)	(425.4)	(387.5)	(372.9)	(425.4)	(372.9)
Other comprehensive income (loss) before reclassifications, net of tax	(103)		7.6		(44.9)	(6.8)
Reclassifications to net investment and other income (losses), net of tax	0.5		0.3		0.4	0.1
Total other comprehensive income (loss)	(102.5)		7.9		(44.5)	(6.7)
Balance at end of period	(469.9)	(367.4)	(379.6)	(387.5)	(469.9)	(379.6)
Unrealized Losses on Defined Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(7.1)	(6.2)	(4.6)	(4.2)	(6.2)	(4.2)
Other comprehensive income (loss) before reclassifications, net of tax	0.7		(0.7)		(0.2)	(1.1)
Reclassifications to net investment and other income (losses), net of tax	0		0		0	0
Total other comprehensive income (loss)	0.7		(0.7)		(0.2)	(1.1)
Balance at end of period	(6.4)	(7.1)	(5.3)	(4.6)	(6.4)	(5.3)
Unrealized Gains (Losses) on Investments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(1.7)	0	(1.5)	6.5	0	6.5
Other comprehensive income (loss) before reclassifications, net of tax	1.9		(0.1)		0	(0.1)
Reclassifications to net investment and other income (losses), net of tax	0		0		0.2	0
Total other comprehensive income (loss)	1.9		(0.1)		0.2	(0.1)
Balance at end of period	$ 0.2	$ (1.7)	$ (1.6)	$ (1.5)	$ 0.2	$ (1.6)
Unrealized Gains (Losses) on Investments [Member] \| ASU 2016-01 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Adoption of new accounting guidance							$ (8)