Franklin Resources (BEN) 10-Q28 Jul 222022 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Jun. 30, 2022	Jul. 21, 2022
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
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	2022
Document Fiscal Period Focus	Q3
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		498,357,111

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Consolidated Statements of Income - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating Revenues
Operating revenues	$ 2,031.3	$ 2,172.9	$ 6,336.3	$ 6,244.5
Operating Expenses
Compensation and benefits	766.7	771.4	2,321.8	2,229.2
Sales, distribution and marketing	440.3	531	1,432.8	1,579.3
Information systems and technology	125.9	121.8	376.6	355.8
Occupancy	53.8	54.6	163.1	164.1
Amortization of intangible assets	81.8	58	200.5	174.1
General, administrative and other	158.1	158	416.1	398.5
Total operating expenses	1,626.6	1,694.8	4,910.9	4,901
Operating Income	404.7	478.1	1,425.4	1,343.5
Other Income (Expenses)
Investment and other income, net	13	52.9	97.7	197.2
Interest expense	(28.9)	(25.7)	(71.1)	(71.3)
Expenses of consolidated investment products			5.8
Other Income (Expenses), Net	(91.6)	77.3	49.8	362.7
Income before taxes	313.1	555.4	1,475.2	1,706.2
Taxes on income	89.5	83.8	347.7	354.4
Net income	223.6	471.6	1,127.5	1,351.8
Less: net income (loss) attributable to
Redeemable noncontrolling interests	(0.5)	33.7	(50.2)	64.4
Nonredeemable noncontrolling interests	(32.3)	(0.5)	118.5	121.9
Net income attributable to Franklin Resources, Inc.	$ 256.4	$ 438.4	$ 1,059.2	$ 1,165.5
Earnings per Share
Basic	$ 0.50	$ 0.86	$ 2.07	$ 2.27
Diluted	$ 0.50	$ 0.86	$ 2.07	$ 2.27
CIPs [Member]
Other Income (Expenses)
Investment and other income, net	$ (74.4)	$ 61	$ 33.3	$ 263.3
Expenses of consolidated investment products	(1.3)	(10.9)	(10.1)	(26.5)
Less: net income (loss) attributable to
Redeemable noncontrolling interests	(16.5)	23.5	(90.9)	42.9
Investment management fees [Member]
Operating Revenues
Operating revenues	1,636.1	1,697.3	5,045.8	4,836.1
Sales and distribution fees [Member]
Operating Revenues
Operating revenues	335.6	416.9	1,104	1,227.4
Shareholder servicing fees [Member]
Operating Revenues
Operating revenues	46.9	50.5	146.8	155.6
Other [Member]
Operating Revenues
Operating revenues	$ 12.7	$ 8.2	$ 39.7	$ 25.4

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net Income	$ 223.6	$ 471.6	$ 1,127.5	$ 1,351.8
Other Comprehensive Income (Loss)
Currency translation adjustments, net of tax	(100.6)	22.6	(123.8)	81.3
Net unrealized gains (losses) on defined benefit plans, net of tax	(2.4)	(0.2)	(2.2)	0.2
Other comprehensive income (loss)	(103)	22.4	(126)	81.5
Total comprehensive income	120.6	494	1,001.5	1,433.3
Less: comprehensive income (loss) attributable to
Redeemable noncontrolling interests	(0.5)	33.7	(50.2)	64.4
Nonredeemable noncontrolling interests	(32.3)	(0.5)	118.5	121.9
Comprehensive Income Attributable to Franklin Resources, Inc.	$ 153.4	$ 460.8	$ 933.2	$ 1,247

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2022	Sep. 30, 2021
Assets
Receivables	$ 1,414.8	$ 1,428.2
Investments	1,658.5	1,510.3
Total investments, at fair value	660.8	588.3
Property and equipment, net	759.1	770
Goodwill	5,807.1	4,457.7
Intangible assets, net	5,177.4	4,710.2
Operating lease right-of-use assets	486.8	448.4
Other	338.3	376.3
Total Assets	27,596	24,168.4
Liabilities
Compensation and benefits	1,234.3	1,179.3
Accounts payable and accrued expenses	541.7	479.3
Commissions	209.8	259.8
Income taxes	521.2	693.6
Debt	3,382.2	3,399.4
Deferred tax liabilities	290.9	311.7
Operating lease liabilities	555.3	518.4
Other	1,133.9	354.3
Total liabilities	13,817.2	11,424.8
Commitments and Contingencies (Note 11)
Redeemable Noncontrolling Interests	1,493.7	933
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; 498,356,132 and 501,807,677 shares issued and outstanding at June 30, 2022 and September 30, 2021	49.8	50.2
Retained earnings	11,997.5	11,550.8
Accumulated other comprehensive loss	(503.6)	(377.6)
Total Franklin Resources, Inc. stockholders’ equity	11,543.7	11,223.4
Nonredeemable noncontrolling interests	741.4	587.2
Total stockholders’ equity	12,285.1	11,810.6
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	27,596	24,168.4
CIPs [Member]
Assets
Cash and cash equivalents	672.4	289.4
Receivables	178.8	127.8
Total investments, at fair value	7,475.3	5,820.1
Total Assets	8,326.5	6,237.3
Liabilities
Accounts payable and accrued expenses	451.4	558
Debt	5,496.5	3,671
Other	22.5	13.8
Total liabilities	5,970.4	4,242.8
Redeemable Noncontrolling Interests	994.5	622.5
Stockholders’ Equity
Total Franklin Resources, Inc. stockholders’ equity	957.7	1,000.7
Nonredeemable noncontrolling interests	403.9	371.3
Total stockholders’ equity	1,361.6	1,372
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	8,326.5	6,237.3
Franklin Resources, Inc. [Member]
Assets
Cash and cash equivalents	$ 3,806.3	$ 4,357.8

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2022	Sep. 30, 2021
Statement of Financial Position [Abstract]
Investments, at fair value	$ 660.8	$ 588.3
Preferred Stock, Par or Stated Value Per Share	$ 1	$ 1
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Common Stock, Par or Stated Value Per Share	$ 0.10	$ 0.10
Common Stock, Shares Authorized	1,000,000,000	1,000,000,000
Common Stock, Shares, Issued	498,356,132	501,807,677
Common Stock, Shares, Outstanding	498,356,132	501,807,677

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock [Member]	Capital in Excess of Par Value [Member]	Retained Earnings [Member]	Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss [Member]	Stockholders' Equity [Member]	Stockholders' Equity [Member] Cumulative Effect, Period of Adoption, Adjustment	Nonredeemable Noncontrolling Interests [Member]
Beginning balance - Shares at Sep. 30, 2020			495.1
Beginning balance at Sep. 30, 2020			$ 49.5	$ 0	$ 10,472.6		$ (407.6)	$ 10,114.5
Beginning balance (ASU 2016-13) at Sep. 30, 2020						$ (3.3)			$ (3.3)
Beginning balance at Sep. 30, 2020										$ 754.6
Beginning balance at Sep. 30, 2020	$ 10,869.1
Beginning balance (ASU 2016-13) at Sep. 30, 2020		$ (3.3)
Stockholders' Equity [Roll Forward]
Net income attributable to Franklin Resources, Inc.					345.3			345.3
Nonredeemable noncontrolling interests										30.8
Net income	376.1
Other comprehensive income (loss)	92.9						92.9	92.9
Dividends declared on common stock	(144)				(144)			(144)
Repurchase of common stock - Shares			(2.1)
Repurchase of common stock - Amount	(45.6)		$ (0.2)	(39.9)	(5.5)			(45.6)
Issuance of common stock - Shares			12.5
Issuance of common stock - Amount	33.7		$ 1.2	32.5				33.7
Stock-based compensation	7.4			7.4				7.4
Net subscriptions (distributions) and other	93.3									93.3
Ending balance - Shares at Dec. 31, 2020			505.5
Ending balance at Dec. 31, 2020			$ 50.5	0	10,665.1		(314.7)	10,400.9
Ending balance at Dec. 31, 2020										878.7
Ending balance at Dec. 31, 2020	11,279.6
Beginning balance - Shares at Sep. 30, 2020			495.1
Beginning balance at Sep. 30, 2020			$ 49.5	0	10,472.6		(407.6)	10,114.5
Beginning balance (ASU 2016-13) at Sep. 30, 2020						$ (3.3)			$ (3.3)
Beginning balance at Sep. 30, 2020										754.6
Beginning balance at Sep. 30, 2020	10,869.1
Beginning balance (ASU 2016-13) at Sep. 30, 2020		$ (3.3)
Stockholders' Equity [Roll Forward]
Net income attributable to Franklin Resources, Inc.	1,165.5
Nonredeemable noncontrolling interests	121.9
Other comprehensive income (loss)	81.5
Ending balance - Shares at Jun. 30, 2021			502.9
Ending balance at Jun. 30, 2021			$ 50.3	0	11,151		(326.1)	10,875.2
Ending balance at Jun. 30, 2021										555.6
Ending balance at Jun. 30, 2021	11,430.8
Beginning balance - Shares at Dec. 31, 2020			505.5
Beginning balance at Dec. 31, 2020			$ 50.5	0	10,665.1		(314.7)	10,400.9
Beginning balance at Dec. 31, 2020										878.7
Beginning balance at Dec. 31, 2020	11,279.6
Stockholders' Equity [Roll Forward]
Net income attributable to Franklin Resources, Inc.					381.8			381.8
Nonredeemable noncontrolling interests										91.6
Net income	473.4
Other comprehensive income (loss)	(33.8)						(33.8)	(33.8)
Dividends declared on common stock	(143.7)				(143.7)			(143.7)
Repurchase of common stock - Shares			(1.7)
Repurchase of common stock - Amount	(45.8)		$ (0.2)	(56.2)	10.6			(45.8)
Issuance of common stock - Shares			0.5
Issuance of common stock - Amount	14.2		$ 0.1	14.1				14.2
Stock-based compensation	42.1			42.1				42.1
Net subscriptions (distributions) and other	16.5									16.5
Net deconsolidation of investment products	(31.6)									(31.6)
Adjustment to fair value of redeemable noncontrolling interests	(52.3)				(52.3)			(52.3)
Ending balance - Shares at Mar. 31, 2021			504.3
Ending balance at Mar. 31, 2021			$ 50.4	0	10,861.5		(348.5)	10,563.4
Ending balance at Mar. 31, 2021										955.2
Ending balance at Mar. 31, 2021	11,518.6
Stockholders' Equity [Roll Forward]
Net income attributable to Franklin Resources, Inc.	438.4				438.4			438.4
Nonredeemable noncontrolling interests	(0.5)									(0.5)
Net income	437.9
Other comprehensive income (loss)	22.4						22.4	22.4
Dividends declared on common stock	(143.3)				(143.3)			(143.3)
Repurchase of common stock - Shares			(1.4)
Repurchase of common stock - Amount	(46.4)		$ (0.1)	(40.7)	(5.6)			(46.4)
Issuance of common stock - Shares			0
Issuance of common stock - Amount	0.2		$ 0	0.2				0.2
Stock-based compensation	40.5			40.5				40.5
Net subscriptions (distributions) and other	87.9									87.9
Net deconsolidation of investment products	(487)									(487)
Ending balance - Shares at Jun. 30, 2021			502.9
Ending balance at Jun. 30, 2021			$ 50.3	0	11,151		(326.1)	10,875.2
Ending balance at Jun. 30, 2021										555.6
Ending balance at Jun. 30, 2021	11,430.8
Beginning balance - Shares at Sep. 30, 2021			501.8
Beginning balance at Sep. 30, 2021	11,223.4		$ 50.2	0	11,550.8		(377.6)	11,223.4
Beginning balance at Sep. 30, 2021	587.2									587.2
Beginning balance at Sep. 30, 2021	11,810.6
Stockholders' Equity [Roll Forward]
Net income attributable to Franklin Resources, Inc.					453.2			453.2
Nonredeemable noncontrolling interests										84.1
Net income	537.3
Other comprehensive income (loss)	(12)						(12)	(12)
Dividends declared on common stock	(148.9)				(148.9)			(148.9)
Repurchase of common stock - Shares			(0.7)
Repurchase of common stock - Amount	(21.7)		$ 0	(58.8)	37.1			(21.7)
Issuance of common stock - Shares			1.4
Issuance of common stock - Amount	47.7		$ 0.1	47.6				47.7
Stock-based compensation	11.2			11.2				11.2
Net subscriptions (distributions) and other	(27.8)									(27.8)
Ending balance - Shares at Dec. 31, 2021			502.5
Ending balance at Dec. 31, 2021			$ 50.3	0	11,892.2		(389.6)	11,552.9
Ending balance at Dec. 31, 2021										643.5
Ending balance at Dec. 31, 2021	12,196.4
Beginning balance - Shares at Sep. 30, 2021			501.8
Beginning balance at Sep. 30, 2021	11,223.4		$ 50.2	0	11,550.8		(377.6)	11,223.4
Beginning balance at Sep. 30, 2021	587.2									587.2
Beginning balance at Sep. 30, 2021	11,810.6
Stockholders' Equity [Roll Forward]
Net income attributable to Franklin Resources, Inc.	1,059.2
Nonredeemable noncontrolling interests	118.5
Other comprehensive income (loss)	(126)
Ending balance - Shares at Jun. 30, 2022			498.4
Ending balance at Jun. 30, 2022	11,543.7		$ 49.8	0	11,997.5		(503.6)	11,543.7
Ending balance at Jun. 30, 2022	741.4									741.4
Ending balance at Jun. 30, 2022	12,285.1
Beginning balance - Shares at Dec. 31, 2021			502.5
Beginning balance at Dec. 31, 2021			$ 50.3	0	11,892.2		(389.6)	11,552.9
Beginning balance at Dec. 31, 2021										643.5
Beginning balance at Dec. 31, 2021	12,196.4
Stockholders' Equity [Roll Forward]
Net income attributable to Franklin Resources, Inc.					349.6			349.6
Nonredeemable noncontrolling interests										66.7
Net income	416.3
Other comprehensive income (loss)	(11)						(11)	(11)
Dividends declared on common stock	(148.3)				(148.3)			(148.3)
Repurchase of common stock - Shares			(2.7)
Repurchase of common stock - Amount	(80.8)		$ (0.4)	(66.7)	(13.7)			(80.8)
Issuance of common stock - Shares			0.6
Issuance of common stock - Amount	18.6		$ 0.1	18.5				18.6
Stock-based compensation	48.2			48.2				48.2
Net subscriptions (distributions) and other	(21.7)									(21.7)
Net deconsolidation of investment products	(39.6)									(39.6)
Adjustment to fair value of redeemable noncontrolling interests	(188.5)				(188.5)			(188.5)
Ending balance - Shares at Mar. 31, 2022			500.4
Ending balance at Mar. 31, 2022			$ 50	0	11,891.3		(400.6)	11,540.7
Ending balance at Mar. 31, 2022										648.9
Ending balance at Mar. 31, 2022	12,189.6
Stockholders' Equity [Roll Forward]
Net income attributable to Franklin Resources, Inc.	256.4				256.4			256.4
Nonredeemable noncontrolling interests	(32.3)									(32.3)
Net income	224.1
Other comprehensive income (loss)	(103)						(103)	(103)
Dividends declared on common stock	(147.7)				(147.7)			(147.7)
Repurchase of common stock - Shares			(2)
Repurchase of common stock - Amount	(51)		$ (0.2)	(48.3)	(2.5)			(51)
Issuance of common stock - Shares			0
Issuance of common stock - Amount	1.8		$ 0	1.8				1.8
Stock-based compensation	46.5			46.5				46.5
Net subscriptions (distributions) and other	(24.8)									(24.8)
Net deconsolidation of investment products	(0.3)									(0.3)
Acquisition	149.9									149.9
Ending balance - Shares at Jun. 30, 2022			498.4
Ending balance at Jun. 30, 2022	11,543.7		$ 49.8	$ 0	$ 11,997.5		$ (503.6)	$ 11,543.7
Ending balance at Jun. 30, 2022	741.4									$ 741.4
Ending balance at Jun. 30, 2022	$ 12,285.1

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared per share	$ 0.29	$ 0.29	$ 0.29	$ 0.28	$ 0.28

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Net cash provided by operating activities
Net Income	$ 1,127.5	$ 1,351.8
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation	160.9	126.6
Amortization of deferred sales commissions	49.6	58.8
Depreciation and other amortization	68.8	70.9
Amortization of intangible assets	200.5	174.1
Net losses (gains) on investments	32.9	(67.7)
Income (losses) from investments in equity method investees	(51.6)	(123.8)
Net losses (gains) on investments of consolidated investment products	22	(176.1)
Net purchase of investments by consolidated investment products	(312.2)	(434.4)
Deferred income taxes	55.9	(42.3)
Other	33	12.3
Changes in operating assets and liabilities:
Increase in receivables and other assets	(97.3)	(115.2)
Decrease (increase) in investments, net	(33.2)	15.6
Increase (decrease) in accrued compensation and benefits	45.1	(88.9)
Increase (decrease) in commissions payable	(50)	14.2
Decrease in income taxes payable	(176.3)	(50.4)
Increase (decrease) in accounts payable, accrued expenses and other liabilities	40.9	(1.7)
Increase (decrease) in accounts payable and accrued expenses of consolidated investment products	(26.2)	15.5
Net cash provided by operating activities	1,090.3	739.3
Net cash used in investing activities
Purchase of investments	(676.5)	(624.8)
Liquidation of investments	872	383.7
Purchase of investments by consolidated collateralized loan obligations	(3,198.4)	(2,731.1)
Liquidation of investments by consolidated collateralized loan obligations	1,501.4	1,148.7
Decrease in loans receivable, net	0	42.7
Additions of property and equipment, net	(55.6)	(34.9)
Acquisitions, net of cash acquired	(1,354.7)	0
Payments of contingent consideration asset	20.9	15.6
Net consolidation (deconsolidation) of investment products	211	(135.9)
Net cash used in investing activities	(2,679.9)	(1,936)
Net cash provided by financing activities
Issuance of common stock	13.6	11
Dividends paid on common stock	(437.1)	(418.6)
Repurchase of common stock	(154)	(135.8)
Proceeds from issuance of debt	0	748.3
Payment of debt issuance costs	0	(6.7)
Payment on debt	0	(250)
Proceeds from debt of consolidated investment products	4,345.2	1,636.2
Payments on debt of consolidated investment products	(2,469.3)	(488.7)
Payment on contingent consideration liabilities	(4.1)	0
Noncontrolling interests	194.9	447.2
Net cash provided by financing activities	1,489.2	1,542.9
Effect of exchange rate changes on cash and cash equivalents	(68.1)	25.1
Increase (decrease) in cash and cash equivalents	(168.5)	371.3
Cash and cash equivalents, beginning of period	4,647.2	3,989.8
Cash and Cash Equivalents, End of Period	4,478.7	4,361.1
Supplemental Disclosure of Cash Flow Information
Cash paid for income taxes	456.7	434.6
Cash paid for interest	61.8	76.2
Cash paid for interest by consolidated investment products	$ 107	$ 75.7

Basis of Presentation

Basis of Presentation	9 Months Ended
Basis of Presentation	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of PresentationThe unaudited interim financial statements of Franklin Resources, Inc. (“Franklin”) and its consolidated subsidiaries (collectively, the “Company”) included herein have been prepared 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. Management also believes that the accounting estimates are appropriate, and the resulting balances are reasonable; however, due to the inherent uncertainties in making estimates, actual amounts may differ from these estimates. These financial statements should be read together with the Company’s audited financial statements included in its Annual Report on Form 10-K for the fiscal year ended September 30, 2021 (“fiscal year 2021”). 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 June 30, 2022.

Acquisitions

Acquisitions	9 Months Ended
Acquisitions	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions Lexington Partners L.P. On April 1, 2022, the Company acquired all of the outstanding ownership interests in Lexington Partners L.P. (“Lexington”), a leading global manager of secondary private equity and co-investment funds, for cash consideration of $984.7 million paid at the time of close and deferred consideration of $750.0 million that has an acquisition-date fair value of $706.4 million. The consideration paid at close was funded from existing cash. In connection with the acquisition, the Company granted a 25% profits interest in Lexington and performance-based cash retention awards that both vest over approximately five years. The acquisition bolsters the Company’s alternative asset capabilities, complementing its existing strengths in real estate, private credit, and hedge fund strategies. The preliminary allocation of estimated fair values of the assets acquired and liabilities and noncontrolling interests assumed was as follows: (in millions) Estimated Fair Value as of April 1, 2022 Goodwill $ 1,105.3 Definite-lived intangible assets 552.0 Investments 163.0 Operating lease right-of-use assets 84.4 Other assets and liabilities, net 28.1 Operating lease liabilities (91.8) Nonredeemable noncontrolling interests (149.9) Total Identifiable Net Assets $ 1,691.1 The goodwill is primarily attributable to expected growth opportunities from the combined operations and is deductible for tax purposes. The definite-lived intangible assets relate to acquired investment management contracts and trade names, which are amortized over their estimated useful lives ranging from 6.0 years to 20.0 years. Amortization expense related to the definite-lived intangible assets was $21.3 million for the period ended June 30, 2022. These assets had a weighted-average remaining useful life of 7.3 years at June 30, 2022, with estimated remaining amortization expense as follows: (in millions) for the fiscal years ending September 30, Amount 2022 (remainder of year) $ 21.3 2023 85.3 2024 85.3 2025 85.3 2026 85.3 Thereafter 168.2 Total $ 530.7 Costs incurred in connection with the acquisition were $16.3 million for the nine months ended June 30, 2022. Lexington contributed $90.7 million of revenue and did not have a material impact to net income attributable to Franklin Resources, Inc. for the period ended June 30, 2022. Consequently, the Company has not presented pro forma combined results of operations for this acquisition. O’Shaughnessy Asset Management, LLC On December 31, 2021, the Company acquired all of the outstanding ownership interests in O’Shaughnessy Asset Management, LLC (“OSAM”), a leading quantitative asset management firm, for cash consideration paid of approximately $300.0 million, excluding future payments to be made subject to the attainment of certain performance measures. The acquisition resulted in $262.3 million of goodwill attributable to expected growth opportunities and synergies from the combined operations and is deductible for tax purposes.

Earnings per Share

Earnings per Share	9 Months Ended
Earnings per Share	Jun. 30, 2022
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 Nine Months Ended 2022 2021 2022 2021 Net income attributable to Franklin Resources, Inc. $ 256.4 $ 438.4 $ 1,059.2 $ 1,165.5 Less: allocation of earnings to participating nonvested stock and stock unit awards 11.2 19.4 45.6 50.6 Net Income Available to Common Stockholders $ 245.2 $ 419.0 $ 1,013.6 $ 1,114.9 Weighted-average shares outstanding – basic 487.5 489.2 489.1 490.3 Dilutive effect of nonparticipating nonvested stock unit awards 0.4 0.7 0.6 0.6 Weighted-Average Shares Outstanding – Diluted 487.9 489.9 489.7 490.9 Earnings per Share Basic $ 0.50 $ 0.86 $ 2.07 $ 2.27 Diluted 0.50 0.86 2.07 2.27 Nonparticipating nonvested stock unit awards excluded from the calculation of diluted earnings per share because their effect would have been antidilutive were insignificant for the three and nine months ended June 30, 2022 and 2021.

Revenues

Revenues	9 Months Ended
Revenues	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Operating revenues by geographic area were as follows: (in millions) United States Luxembourg Asia-Pacific Americas Europe, Total for the three months ended June 30, 2022 Investment management fees $ 1,234.7 $ 211.6 $ 71.2 $ 59.4 $ 59.2 $ 1,636.1 Sales and distribution fees 238.1 80.2 5.8 11.5 — 335.6 Shareholder servicing fees 37.5 8.5 0.4 0.1 0.4 46.9 Other 12.0 0.3 0.2 — 0.2 12.7 Total $ 1,522.3 $ 300.6 $ 77.6 $ 71.0 $ 59.8 $ 2,031.3 (in millions) United States Luxembourg Asia-Pacific Americas Europe, Total for the nine months ended June 30, 2022 Investment management fees $ 3,720.8 $ 707.2 $ 242.5 $ 194.3 $ 181.0 $ 5,045.8 Sales and distribution fees 778.1 268.3 20.0 37.6 — 1,104.0 Shareholder servicing fees 116.4 27.9 1.1 0.2 1.2 146.8 Other 38.2 0.8 0.5 — 0.2 39.7 Total $ 4,653.5 $ 1,004.2 $ 264.1 $ 232.1 $ 182.4 $ 6,336.3 (in millions) United States Luxembourg Asia-Pacific Americas Europe, Total for the three months ended June 30, 2021 Investment management fees $ 1,213.0 $ 269.9 $ 85.7 $ 73.1 $ 55.6 $ 1,697.3 Sales and distribution fees 293.7 100.5 8.4 14.0 0.3 416.9 Shareholder servicing fees 38.3 10.1 2.0 0.1 — 50.5 Other 7.8 0.3 0.1 — — 8.2 Total $ 1,552.8 $ 380.8 $ 96.2 $ 87.2 $ 55.9 $ 2,172.9 (in millions) United States Luxembourg Asia-Pacific Americas Europe, Total for the nine months ended June 30, 2021 Investment management fees $ 3,416.1 $ 803.2 $ 248.0 $ 212.7 $ 156.1 $ 4,836.1 Sales and distribution fees 852.4 295.2 37.4 38.9 3.5 1,227.4 Shareholder servicing fees 119.9 26.0 5.9 0.2 3.6 155.6 Other 17.9 0.8 1.6 — 5.1 25.4 Total $ 4,406.3 $ 1,125.2 $ 292.9 $ 251.8 $ 168.3 $ 6,244.5 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. Revenues earned from sponsored funds were 83% and 81% of the Company’s total operating revenues for the three and nine months ended June 30, 2022 and 78% and 80% for the three and nine months ended June 30, 2021.

Investments

Investments	9 Months Ended
Investments	Jun. 30, 2022
Investments [Abstract]
Investments	Investments The disclosures below include details of the Company’s investments, excluding those of consolidated investment products (“CIPs”). See Note 8 – Consolidated Investment Products for information related to the investments held by these entities. Investments consisted of the following: (in millions) June 30, September 30, Investments, at fair value Sponsored funds and separate accounts $ 463.5 $ 368.3 Investments related to long-term incentive plans 141.0 160.0 Other equity and debt investments 56.3 60.0 Total investments, at fair value 660.8 588.3 Investments in equity method investees 744.5 814.3 Other investments 253.2 107.7 Total $ 1,658.5 $ 1,510.3 The Company recognized other-than-temporary impairment of $8.7 million and $29.9 million in earnings during the three and nine months ended June 30, 2022.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Jun. 30, 2022
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 CIPs. See Note 8 – 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 Total as of June 30, 2022 Assets Investments, at fair value Sponsored funds and separate accounts $ 334.2 $ 48.4 $ 19.2 $ 61.7 $ 463.5 Investments related to long-term incentive plans 141.0 — — — 141.0 Other equity and debt investments 3.2 19.5 — 33.6 56.3 Contingent consideration asset — — 8.8 — 8.8 Total Assets Measured at Fair Value $ 478.4 $ 67.9 $ 28.0 $ 95.3 $ 669.6 Liabilities Contingent consideration liabilities $ — $ — $ 60.1 $ — $ 60.1 (in millions) Level 1 Level 2 Level 3 NAV as a Total as of September 30, 2021 Assets Investments, at fair value Sponsored funds and separate accounts $ 241.3 $ 18.4 $ 24.6 $ 84.0 $ 368.3 Investments related to long-term incentive plans 160.0 — — — 160.0 Other equity and debt investments 3.3 13.3 — 43.4 60.0 Contingent consideration asset — — 19.4 — 19.4 Total Assets Measured at Fair Value $ 404.6 $ 31.7 $ 44.0 $ 127.4 $ 607.7 Liabilities Contingent consideration liabilities $ — $ — $ 42.4 $ — $ 42.4 Investments for which fair value was estimated using reported NAV as a practical expedient primarily consist of nonredeemable private debt, equity and infrastructure funds, and redeemable global equity and private real estate funds. These investments were as follows: (in millions) June 30, September 30, Nonredeemable investments 1 Investments with unknown liquidation periods $ 35.8 $ 46.6 Investments with known liquidation periods 33.9 53.9 Redeemable investments 2 25.6 26.9 Unfunded commitments 51.4 51.8 _______________ 1 The 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 have an expected weighted-average life of 3.6 years and 4.0 years at June 30, 2022 and September 30, 2021. 2 Investments are redeemable on a monthly and quarterly basis. Changes in the Level 3 assets and liabilities were as follows: 2022 2021 (in millions) Investments Contingent Consideration Asset Contingent Consideration Liabilities Investments Contingent Consideration Asset Contingent Consideration Liabilities for the three months ended June 30, Balance at beginning of period $ 21.9 $ 17.1 $ (56.5) $ 19.5 $ 29.1 $ (25.3) Total realized and unrealized gains (losses) Included in investment and other income, net 1.2 — — 0.2 — — Included in general, administrative and other expense — — (3.7) — — — Purchases 3.8 — — 5.3 — — Sales (1.6) — — (0.3) — — Settlements (1.1) (8.3) — — (5.0) — Consolidation of investment product (5.0) — — — — — Foreign exchange revaluation — — 0.1 — — — Balance at End of Period $ 19.2 $ 8.8 $ (60.1) $ 24.7 $ 24.1 $ (25.3) Change in unrealized gains (losses) included in net income relating to assets and liabilities held at end of period $ (0.3) $ — $ (3.7) $ 0.2 $ — $ — 2022 2021 (in millions) Investments Contingent Consideration Asset Contingent Consideration Liabilities Investments Contingent Consideration Asset Contingent Consideration Liabilities for the nine months ended June 30, Balance at beginning of period $ 24.6 $ 19.4 $ (42.4) $ 17.4 $ 39.7 $ (25.3) Acquisitions — — (24.5) — — — Total realized and unrealized gains (losses) Included in investment and other income, net (0.4) — — — — — Included in general, administrative and other expense — 10.3 (2.6) — — — Purchases 14.1 — — 13.8 — — Sales (7.9) — — (5.8) — — Settlements (4.3) (20.9) 9.1 (0.5) (15.6) — Consolidation of investment product (5.0) — — — — — Transfers out of Level 3 (1.9) — — (0.2) — — Foreign exchange revaluation — — 0.3 — — — Balance at End of Period $ 19.2 $ 8.8 $ (60.1) $ 24.7 $ 24.1 $ (25.3) Change in unrealized gains (losses) included in net income relating to assets and liabilities held at end of period $ (0.7) $ 10.3 $ (2.4) $ — $ — $ — Financial instruments that were not measured at fair value were as follows: (in millions) Fair Value June 30, 2022 September 30, 2021 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Assets Cash and cash equivalents 1 $ 3,806.3 $ 3,806.3 $ 4,357.8 $ 4,357.8 Other investments Time deposits 2 10.8 10.8 13.2 13.2 Equity securities 3 242.4 242.4 94.5 99.1 Financial Liability Debt 2 $ 3,382.2 $ 2,878.6 $ 3,399.4 $ 3,434.1

Debt

Debt	9 Months Ended
Debt	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt On January 10, 2022, the Company entered into a bi-lateral credit agreement with Bank of America, N.A. to establish a 364 day revolving credit facility with an aggregate commitment of $500.0 million. As of June 30, 2022, there were no amounts outstanding. There were no other material changes to the Company’s debt during the nine months ended June 30, 2022.

Consolidated Investment Product

Consolidated Investment Products	9 Months Ended
Consolidated Investment Products	Jun. 30, 2022
Consolidated Investment Products [Abstract]
Consolidated Investment Products	Consolidated Investment Products CIPs consist of mutual and other investment funds, limited partnerships and similar structures and CLOs, all of which are sponsored by the Company, and include both voting interest entities and variable interest entities (“VIEs”). The Company had 58 CIPs, including 14 CLOs, as of June 30, 2022 and 60 CIPs, including 10 CLOs, as of September 30, 2021. The balances related to CIPs included in the Company’s consolidated balance sheets were as follows: (in millions) June 30, September 30, Assets Cash and cash equivalents $ 672.4 $ 289.4 Receivables 178.8 127.8 Investments, at fair value 7,475.3 5,820.1 Total Assets $ 8,326.5 $ 6,237.3 Liabilities Accounts payable and accrued expenses $ 451.4 $ 558.0 Debt 5,496.5 3,671.0 Other liabilities 22.5 13.8 Total liabilities 5,970.4 4,242.8 Redeemable Noncontrolling Interests 994.5 622.5 Stockholders ’ Equity Franklin Resources, Inc.’s interests 957.7 1,000.7 Nonredeemable noncontrolling interests 403.9 371.3 Total stockholders’ equity 1,361.6 1,372.0 Total Liabilities, Redeemable Noncontrolling Interests and Stockholders ’ Equity $ 8,326.5 $ 6,237.3 The CIPs did not have a significant impact on net income attributable to the Company during the three and nine months ended June 30, 2022 and 2021. 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. 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 June 30, 2022 Assets Cash and cash equivalents of CLOs $ 299.5 $ — $ — $ — $ 299.5 Receivables of CLOs — 105.0 — — 105.0 Investments Equity and debt securities 79.5 875.2 557.0 217.7 1,729.4 Loans — 5,467.8 37.6 — 5,505.4 Real estate — — 240.5 — 240.5 Total Assets Measured at Fair Value $ 379.0 $ 6,448.0 $ 835.1 $ 217.7 $ 7,879.8 (in millions) Level 1 Level 2 Level 3 NAV as a Total as of September 30, 2021 Assets Cash and cash equivalents of CLOs $ 145.4 $ — $ — $ — $ 145.4 Receivables of CLOs — 84.0 — — 84.0 Investments Equity and debt securities 310.8 647.3 453.3 343.5 1,754.9 Loans — 3,955.3 20.5 — 3,975.8 Real estate — — 89.4 — 89.4 Total Assets Measured at Fair Value $ 456.2 $ 4,686.6 $ 563.2 $ 343.5 $ 6,049.5 Investments for which fair value was estimated using reported NAV as a practical expedient consist of a redeemable global hedge fund, nonredeemable private equity funds and a redeemable U.S. equity fund. These investments were as follows: (in millions) June 30, September 30, Nonredeemable investments 1 Investments with known liquidation periods $ 38.2 $ 141.4 Investments with unknown liquidation periods 12.2 — Redeemable investments 2 167.3 202.1 Unfunded commitments 3 0.2 0.5 _______________ 1 The 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 have an expected weighted-average life of 0.5 year at June 30, 2022 and 1.3 years at September 30, 2021. 2 Investments are redeemable on a monthly basis and liquidation periods are unknown. 3 Of the total unfunded commitments, the Company was contractually obligated to fund $0.1 million and $0.2 million based on its ownership percentage in the CIPs, at June 30, 2022 and September 30, 2021. Changes in Level 3 assets were as follows: (in millions) Equity and Debt Real Estate Loans Total for the three months ended June 30, 2022 Balance at April 1, 2022 $ 595.4 $ 175.4 $ 33.6 $ 804.4 Realized and unrealized gains (losses) included in investment and other income (losses) of consolidated investment products, net (31.7) 4.1 0.2 (27.4) Purchases 6.5 61.0 (0.1) 67.4 Sales and settlements (13.1) — (0.1) (13.2) Deconsolidations — — (1.7) (1.7) Transfers into Level 3 — — 5.7 5.7 Transfers out of Level 3 (0.1) — — (0.1) Balance at June 30, 2022 $ 557.0 $ 240.5 $ 37.6 $ 835.1 Change in unrealized gains (losses) included in net income relating to assets held at June 30, 2022 $ (32.2) $ 4.1 $ 0.2 $ (27.9) (in millions) Equity and Debt Real Estate Loans Total for the nine months ended June 30, 2022 Balance at October 1, 2021 $ 453.3 $ 89.4 $ 20.5 $ 563.2 Realized and unrealized gains (losses) included in investment and other income (losses) of consolidated investment products, net 138.6 18.4 0.2 157.2 Purchases 140.0 132.7 14.0 286.7 Sales and settlements (118.9) — (1.1) (120.0) Deconsolidations (55.0) — (1.7) (56.7) Transfers into Level 3 0.1 — 5.7 5.8 Transfers out of Level 3 (1.1) — — (1.1) Balance at June 30, 2022 $ 557.0 $ 240.5 $ 37.6 $ 835.1 Change in unrealized gains included in net income relating to assets held at June 30, 2022 $ 126.6 $ 18.4 $ — $ 145.0 (in millions) Equity and Debt Real Estate Loans Total for the three months ended June 30, 2021 Balance at April 1, 2021 $ 271.2 $ 423.5 $ 22.4 $ 717.1 Realized and unrealized gains included in investment and other income (losses) of consolidated investment products, net 6.2 2.4 0.2 8.8 Purchases 14.0 44.2 — 58.2 Sales and settlements (2.4) — (1.2) (3.6) Deconsolidations — (448.8) — (448.8) Transfers into Level 3 0.9 — — 0.9 Transfers out of Level 3 (1.0) — — (1.0) Foreign exchange revaluation — 1.2 — 1.2 Balance at June 30, 2021 $ 288.9 $ 22.5 $ 21.4 $ 332.8 Change in unrealized gains (losses) included in net income relating to assets held at June 30, 2021 $ 6.2 $ (0.5) $ 0.2 $ 5.9 (in millions) Equity and Debt Real Estate Loans Total for the nine months ended June 30, 2021 Balance at October 1, 2020 $ 322.3 $ 339.2 $ 24.9 $ 686.4 Realized and unrealized gains included in investment and other income (losses) of consolidated investment products, net 26.3 5.1 0.2 31.6 Purchases 34.1 116.5 — 150.6 Sales and settlements (59.4) — (3.7) (63.1) Deconsolidations (36.2) (448.8) — (485.0) Transfers into Level 3 2.1 — — 2.1 Transfers out of Level 3 (1.0) — — (1.0) Foreign exchange revaluation 0.7 10.5 — 11.2 Balance at June 30, 2021 $ 288.9 $ 22.5 $ 21.4 $ 332.8 Change in unrealized gains included in net income relating to assets held at June 30, 2021 $ 25.9 $ 2.2 $ 0.3 $ 28.4 Valuation techniques and significant unobservable inputs used in Level 3 fair value measurements were as follows: (in millions) as of June 30, 2022 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Equity and debt securities $ 492.7 Market pricing Private sale pricing $0.39–$789.78 ($45.27) per share 64.3 Market comparable companies Enterprise value/ 14.7 Discount for lack of marketability 14.6%–25.0% (19.4%) Price-to-book value ratio 1.2 Real estate 240.5 Discounted cash flow Discount rate 5.5%–6.3% (6.0%) Exit capitalization rate 4.5%–5.5% (4.9%) (in millions) as of September 30, 2021 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Equity and debt securities $ 301.1 Market pricing Private sale pricing $0.39-$100.00 ($19.34) per share 102.3 Market comparable companies Enterprise value/ 6.0–20.6 (13.7) Discount for lack of marketability 6.0%–25.5% (17.6%) Enterprise value/ 0.6–7.2 (5.1) Price-to-book value ratio 0.7–1.8 (1.4) Control premium 20% Price-to-earnings ratio 28.8 49.9 Discounted cash flow Discount rate 3.3%–6.3% (4.3%) Real estate 89.4 Discounted cash flow Discount rate 5.8%–6.0% (5.9%) Exit capitalization rate 5.0%–5.3% (5.1%) __________________ 1 Based on the relative fair value of the instruments. If the relevant significant inputs used in the market-based valuations, other than discount for lack of marketability, were independently higher (lower) as of June 30, 2022, the resulting fair value of the assets would be higher (lower). If the relevant significant inputs used in the discounted cash flow valuations, as well as the discount for lack of marketability used in the market-based valuations, were independently higher (lower) as of June 30, 2022, 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 June 30, 2022 September 30, 2021 Carrying Estimated Carrying Estimated Financial Asset Cash and cash equivalents 1 $ 372.9 $ 372.9 $ 144.0 $ 144.0 Receivables of CLOs 2 16.7 16.7 — — Financial Liabilities Debt of CLOs 1 2 or 3 $ 5,396.8 $ 5,437.8 $ 3,634.1 $ 3,610.6 Other debt 3 99.7 92.9 36.9 36.6 __________________ 1 Substantially all was Level 2. Debt Debt of CIPs consisted of the following: June 30, 2022 September 30, 2021 (in millions) Amount Weighted- Amount Weighted- Debt of CLOs $ 5,396.8 2.03% $ 3,634.1 2.11% Other debt 99.7 3.73% 36.9 1.95% Total $ 5,496.5 $ 3,671.0 The debt of CLOs had fixed and floating interest rates ranging from 1.00% to 8.27% at June 30, 2022, and from 1.00% to 8.22% at September 30, 2021. The other debt had fixed and floating interest rates ranging from 3.31% to 6.00% at June 30, 2022, and from 1.63% to 2.42% at September 30, 2021. The floating rates were primarily based on LIBOR. The contractual maturities for the debt of CIPs at June 30, 2022 were as follows: (in millions) for the fiscal years ending September 30, Amount 2022 (remainder of year) $ 99.4 2023 21.9 2024 84.2 2025 — 2026 — Thereafter 5,291.0 Total $ 5,496.5 Collateralized Loan Obligations The unpaid principal balance and fair value of the investments of CLOs were as follows: (in millions) June 30, September 30, Unpaid principal balance $ 5,549.5 $ 3,951.1 Difference between unpaid principal balance and fair value (46.9) 20.9 Fair Value $ 5,502.6 $ 3,972.0 There were no investments 90 days or more past due at June 30, 2022 and September 30, 2021.

Redeemable Noncontrolling Inter

Redeemable Noncontrolling Interests	9 Months Ended
Redeemable Noncontrolling Interests	Jun. 30, 2022
Noncontrolling Interest [Abstract]
Noncontrolling Interest Disclosure	Redeemable Noncontrolling Interests Changes in redeemable noncontrolling interests were as follows: (in millions) 2022 2021 CIPs Minority Interests Total CIPs Minority Interests Total for the three months ended June 30, Balance at beginning of period $ 625.3 $ 512.8 $ 1,138.1 $ 609.9 $ 205.8 $ 815.7 Net income (loss) (16.5) 16.0 (0.5) 23.5 10.2 33.7 Net subscriptions (distributions) and other 5.4 (29.6) (24.2) 190.1 (18.1) 172.0 Net consolidations 380.3 — 380.3 31.3 — 31.3 Balance at End of Period $ 994.5 $ 499.2 $ 1,493.7 $ 854.8 $ 197.9 $ 1,052.7 (in millions) 2022 2021 CIPs Minority Interests Total CIPs Minority Interests Total for the nine months ended June 30, Balance at beginning of period $ 622.5 $ 310.5 $ 933.0 $ 397.3 $ 144.6 $ 541.9 Net income (loss) (90.9) 40.7 (50.2) 42.9 21.5 64.4 Net subscriptions (distributions) and other 320.0 (40.5) 279.5 270.0 (20.5) 249.5 Net consolidations 142.9 — 142.9 144.6 — 144.6 Adjustment to fair value — 188.5 188.5 — 52.3 52.3 Balance at End of Period $ 994.5 $ 499.2 $ 1,493.7 $ 854.8 $ 197.9 $ 1,052.7

Nonconsolidated Variable Intere

Nonconsolidated Variable Interest Entities	9 Months Ended
Nonconsolidated Variable Interest Entities	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nonconsolidated Variable Interest Entities	Nonconsolidated 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, investment management and other fee receivables as follows: (in millions) June 30, September 30, Investments $ 728.7 $ 639.2 Receivables 175.9 172.1 Total $ 904.6 $ 811.3 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 assessed as VIEs during the nine months ended June 30, 2022. During the fiscal year ended September 30, 2020, the Company authorized loans to certain sponsored funds in India that experienced increased liquidity risks and redemptions. The loans were fully repaid by March 31, 2021. See Note 16 – Commitments and Contingencies in the notes to consolidated financial statements in Item 8 of Part II of our Annual Report on Form 10-K for fiscal year 2021 for further information.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings India Credit Fund Closure Matters . During the nine months ended June 30, 2022, there were no significant changes from the disclosure in the Form 10‑K for the fiscal year ended September 30, 2021. As of June 30, 2022, the amount reported as distributed to Fund unitholders is approximately $3.5 billion. Other Litigation Matters. The Company is from time to time involved in other 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 June 30, 2022 to provide for any probable losses that may arise from such matters for which the Company could reasonably estimate an amount. Indemnifications and Guarantees In the ordinary course of business or in connection with certain acquisition agreements, the Company enters into contracts that provide for indemnifications by the Company in certain circumstances. In addition, certain Company entities guarantee certain financial and performance-related obligations of various Franklin subsidiaries. The Company is also subject to certain legal requirements and agreements providing for indemnifications of directors, officers and personnel against liabilities and expenses they may incur under certain circumstances in connection with their service in those positions. The terms of these indemnities and guarantees vary pursuant to applicable facts and circumstances, and from agreement to agreement. Future payments for claims against the Company under these indemnities or guarantees could negatively impact the Company’s financial condition. In management’s opinion, no material loss was deemed probable or reasonably possible pursuant to such indemnification agreements and/or guarantees as of June 30, 2022. Other Commitments and Contingencies At June 30, 2022, there were no material changes in the other commitments and contingencies as reported in the Company’s Annual Report on Form 10-K for fiscal year 2021.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
Stock-Based Compensation	Jun. 30, 2022
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 Performance- Total Weighted- for the nine months ended June 30, 2022 Nonvested balance at October 1, 2021 14,176 3,658 17,834 $ 22.27 Granted 4,713 227 4,940 34.36 Vested (1,891) (98) (1,989) 25.43 Forfeited/canceled (435) (188) (623) 26.20 Nonvested Balance at June 30, 2022 16,563 3,599 20,162 $ 24.48 Total unrecognized compensation expense related to nonvested stock and stock unit awards was $286.4 million at June 30, 2022. This expense is expected to be recognized over a remaining weighted-average vesting period of 2.0 years.

Investment and Other Income, Ne

Investment and Other Income, Net	9 Months Ended
Investment and Other Income, Net	Jun. 30, 2022
Other Income and Expenses [Abstract]
Other Income (Expenses)	Investment and Other Income, Net Investment and other income, net consisted of the following: Three Months Ended Nine Months Ended (in millions) 2022 2021 2022 2021 Dividend and interest income $ 6.3 $ 3.4 $ 17.5 $ 12.4 Gains (losses) on investments, net (35.6) 17.3 (32.9) 76.2 Income (losses) from investments in equity method investees (0.1) 39.4 51.6 123.8 Gains (losses) on derivatives, net 17.5 (9.1) 15.2 (25.2) Rental income 9.6 7.2 27.9 22.7 Foreign currency exchange gains (losses), net 14.5 (7.2) 24.2 (17.2) Other, net 0.8 1.9 (5.8) 4.5 Investment and other income, net $ 13.0 $ 52.9 $ 97.7 $ 197.2 Net gains (losses) recognized on equity securities measured at fair value and trading debt securities that were held by the Company at June 30, 2022 and 2021 were $(50.3) million and $(79.1) million for the three and nine months ended June 30, 2022, and $(0.2) million and $27.2 million for the three and nine months ended June 30, 2021.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
Accumulated Other Comprehensive Income (Loss)	Jun. 30, 2022
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 Total for the three months ended June 30, 2022 Balance at April 1, 2022 $ (393.7) $ (6.9) $ (400.6) Other comprehensive loss Other comprehensive loss before reclassifications, net of tax (101.5) (2.4) (103.9) Reclassifications to net investment and other income, net of tax 0.9 — 0.9 Total other comprehensive loss (100.6) (2.4) (103.0) Balance at June 30, 2022 $ (494.3) $ (9.3) $ (503.6) (in millions) Currency Unrealized Total for the nine months ended June 30, 2022 Balance at October 1, 2021 $ (370.5) $ (7.1) $ (377.6) Other comprehensive loss Other comprehensive loss before reclassifications, net of tax (125.8) (1.6) (127.4) Reclassifications to compensation and benefits expense, net of tax — (0.6) (0.6) Reclassifications to net investment and other income, net of tax 2.0 — 2.0 Total other comprehensive loss (123.8) (2.2) (126.0) Balance at June 30, 2022 $ (494.3) $ (9.3) $ (503.6) (in millions) Currency Unrealized Total for the three months ended June 30, 2021 Balance at April 1, 2021 $ (340.9) $ (7.6) $ (348.5) Other comprehensive income (loss) Other comprehensive income (loss) before reclassifications, net of tax 21.5 (0.2) 21.3 Reclassifications to net investment and other income, net of tax 1.1 — 1.1 Total other comprehensive income (loss) 22.6 (0.2) 22.4 Balance at June 30, 2021 $ (318.3) $ (7.8) $ (326.1) (in millions) Currency Unrealized Total for the nine months ended June 30, 2021 Balance at October 1, 2020 $ (399.6) $ (8.0) $ (407.6) Other comprehensive income Other comprehensive income before reclassifications, net of tax 79.3 0.2 79.5 Reclassifications to net investment and other income, net of tax 2.0 — 2.0 Total other comprehensive income 81.3 0.2 81.5 Balance at June 30, 2021 $ (318.3) $ (7.8) $ (326.1)

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
Acquisitions (Tables)	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of preliminary allocation of estimated fair values	The preliminary allocation of estimated fair values of the assets acquired and liabilities and noncontrolling interests assumed was as follows: (in millions) Estimated Fair Value as of April 1, 2022 Goodwill $ 1,105.3 Definite-lived intangible assets 552.0 Investments 163.0 Operating lease right-of-use assets 84.4 Other assets and liabilities, net 28.1 Operating lease liabilities (91.8) Nonredeemable noncontrolling interests (149.9) Total Identifiable Net Assets $ 1,691.1
Schedule of Definite-Lived Intangible Assets, Remaining Amortization Expense	These assets had a weighted-average remaining useful life of 7.3 years at June 30, 2022, with estimated remaining amortization expense as follows: (in millions) for the fiscal years ending September 30, Amount 2022 (remainder of year) $ 21.3 2023 85.3 2024 85.3 2025 85.3 2026 85.3 Thereafter 168.2 Total $ 530.7

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
Earnings per Share (Tables)	Jun. 30, 2022
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 Nine Months Ended 2022 2021 2022 2021 Net income attributable to Franklin Resources, Inc. $ 256.4 $ 438.4 $ 1,059.2 $ 1,165.5 Less: allocation of earnings to participating nonvested stock and stock unit awards 11.2 19.4 45.6 50.6 Net Income Available to Common Stockholders $ 245.2 $ 419.0 $ 1,013.6 $ 1,114.9 Weighted-average shares outstanding – basic 487.5 489.2 489.1 490.3 Dilutive effect of nonparticipating nonvested stock unit awards 0.4 0.7 0.6 0.6 Weighted-Average Shares Outstanding – Diluted 487.9 489.9 489.7 490.9 Earnings per Share Basic $ 0.50 $ 0.86 $ 2.07 $ 2.27 Diluted 0.50 0.86 2.07 2.27

Revenues (Tables)

Revenues (Tables)	9 Months Ended
Revenues (Tables)	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Operating revenues by geographic area	Operating revenues by geographic area were as follows: (in millions) United States Luxembourg Asia-Pacific Americas Europe, Total for the three months ended June 30, 2022 Investment management fees $ 1,234.7 $ 211.6 $ 71.2 $ 59.4 $ 59.2 $ 1,636.1 Sales and distribution fees 238.1 80.2 5.8 11.5 — 335.6 Shareholder servicing fees 37.5 8.5 0.4 0.1 0.4 46.9 Other 12.0 0.3 0.2 — 0.2 12.7 Total $ 1,522.3 $ 300.6 $ 77.6 $ 71.0 $ 59.8 $ 2,031.3 (in millions) United States Luxembourg Asia-Pacific Americas Europe, Total for the nine months ended June 30, 2022 Investment management fees $ 3,720.8 $ 707.2 $ 242.5 $ 194.3 $ 181.0 $ 5,045.8 Sales and distribution fees 778.1 268.3 20.0 37.6 — 1,104.0 Shareholder servicing fees 116.4 27.9 1.1 0.2 1.2 146.8 Other 38.2 0.8 0.5 — 0.2 39.7 Total $ 4,653.5 $ 1,004.2 $ 264.1 $ 232.1 $ 182.4 $ 6,336.3 (in millions) United States Luxembourg Asia-Pacific Americas Europe, Total for the three months ended June 30, 2021 Investment management fees $ 1,213.0 $ 269.9 $ 85.7 $ 73.1 $ 55.6 $ 1,697.3 Sales and distribution fees 293.7 100.5 8.4 14.0 0.3 416.9 Shareholder servicing fees 38.3 10.1 2.0 0.1 — 50.5 Other 7.8 0.3 0.1 — — 8.2 Total $ 1,552.8 $ 380.8 $ 96.2 $ 87.2 $ 55.9 $ 2,172.9 (in millions) United States Luxembourg Asia-Pacific Americas Europe, Total for the nine months ended June 30, 2021 Investment management fees $ 3,416.1 $ 803.2 $ 248.0 $ 212.7 $ 156.1 $ 4,836.1 Sales and distribution fees 852.4 295.2 37.4 38.9 3.5 1,227.4 Shareholder servicing fees 119.9 26.0 5.9 0.2 3.6 155.6 Other 17.9 0.8 1.6 — 5.1 25.4 Total $ 4,406.3 $ 1,125.2 $ 292.9 $ 251.8 $ 168.3 $ 6,244.5

Investments (Tables)

Investments (Tables)	9 Months Ended
Investments (Tables)	Jun. 30, 2022
Investments [Abstract]
Summary of investments	Investments consisted of the following: (in millions) June 30, September 30, Investments, at fair value Sponsored funds and separate accounts $ 463.5 $ 368.3 Investments related to long-term incentive plans 141.0 160.0 Other equity and debt investments 56.3 60.0 Total investments, at fair value 660.8 588.3 Investments in equity method investees 744.5 814.3 Other investments 253.2 107.7 Total $ 1,658.5 $ 1,510.3

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Jun. 30, 2022
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 Total as of June 30, 2022 Assets Investments, at fair value Sponsored funds and separate accounts $ 334.2 $ 48.4 $ 19.2 $ 61.7 $ 463.5 Investments related to long-term incentive plans 141.0 — — — 141.0 Other equity and debt investments 3.2 19.5 — 33.6 56.3 Contingent consideration asset — — 8.8 — 8.8 Total Assets Measured at Fair Value $ 478.4 $ 67.9 $ 28.0 $ 95.3 $ 669.6 Liabilities Contingent consideration liabilities $ — $ — $ 60.1 $ — $ 60.1 (in millions) Level 1 Level 2 Level 3 NAV as a Total as of September 30, 2021 Assets Investments, at fair value Sponsored funds and separate accounts $ 241.3 $ 18.4 $ 24.6 $ 84.0 $ 368.3 Investments related to long-term incentive plans 160.0 — — — 160.0 Other equity and debt investments 3.3 13.3 — 43.4 60.0 Contingent consideration asset — — 19.4 — 19.4 Total Assets Measured at Fair Value $ 404.6 $ 31.7 $ 44.0 $ 127.4 $ 607.7 Liabilities Contingent consideration liabilities $ — $ — $ 42.4 $ — $ 42.4
Schedule of investments measured at NAV	Investments for which fair value was estimated using reported NAV as a practical expedient primarily consist of nonredeemable private debt, equity and infrastructure funds, and redeemable global equity and private real estate funds. These investments were as follows: (in millions) June 30, September 30, Nonredeemable investments 1 Investments with unknown liquidation periods $ 35.8 $ 46.6 Investments with known liquidation periods 33.9 53.9 Redeemable investments 2 25.6 26.9 Unfunded commitments 51.4 51.8
Schedule of changes in Level 3 assets and liabilities	Changes in the Level 3 assets and liabilities were as follows: 2022 2021 (in millions) Investments Contingent Consideration Asset Contingent Consideration Liabilities Investments Contingent Consideration Asset Contingent Consideration Liabilities for the three months ended June 30, Balance at beginning of period $ 21.9 $ 17.1 $ (56.5) $ 19.5 $ 29.1 $ (25.3) Total realized and unrealized gains (losses) Included in investment and other income, net 1.2 — — 0.2 — — Included in general, administrative and other expense — — (3.7) — — — Purchases 3.8 — — 5.3 — — Sales (1.6) — — (0.3) — — Settlements (1.1) (8.3) — — (5.0) — Consolidation of investment product (5.0) — — — — — Foreign exchange revaluation — — 0.1 — — — Balance at End of Period $ 19.2 $ 8.8 $ (60.1) $ 24.7 $ 24.1 $ (25.3) Change in unrealized gains (losses) included in net income relating to assets and liabilities held at end of period $ (0.3) $ — $ (3.7) $ 0.2 $ — $ — 2022 2021 (in millions) Investments Contingent Consideration Asset Contingent Consideration Liabilities Investments Contingent Consideration Asset Contingent Consideration Liabilities for the nine months ended June 30, Balance at beginning of period $ 24.6 $ 19.4 $ (42.4) $ 17.4 $ 39.7 $ (25.3) Acquisitions — — (24.5) — — — Total realized and unrealized gains (losses) Included in investment and other income, net (0.4) — — — — — Included in general, administrative and other expense — 10.3 (2.6) — — — Purchases 14.1 — — 13.8 — — Sales (7.9) — — (5.8) — — Settlements (4.3) (20.9) 9.1 (0.5) (15.6) — Consolidation of investment product (5.0) — — — — — Transfers out of Level 3 (1.9) — — (0.2) — — Foreign exchange revaluation — — 0.3 — — — Balance at End of Period $ 19.2 $ 8.8 $ (60.1) $ 24.7 $ 24.1 $ (25.3) Change in unrealized gains (losses) included in net income relating to assets and liabilities held at end of period $ (0.7) $ 10.3 $ (2.4) $ — $ — $ —
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 June 30, 2022 September 30, 2021 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Assets Cash and cash equivalents 1 $ 3,806.3 $ 3,806.3 $ 4,357.8 $ 4,357.8 Other investments Time deposits 2 10.8 10.8 13.2 13.2 Equity securities 3 242.4 242.4 94.5 99.1 Financial Liability Debt 2 $ 3,382.2 $ 2,878.6 $ 3,399.4 $ 3,434.1

Consolidated Investment Produ_2

Consolidated Investment Products (Tables)	9 Months Ended
Consolidated Investment Products (Tables)	Jun. 30, 2022
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) June 30, September 30, Assets Cash and cash equivalents $ 672.4 $ 289.4 Receivables 178.8 127.8 Investments, at fair value 7,475.3 5,820.1 Total Assets $ 8,326.5 $ 6,237.3 Liabilities Accounts payable and accrued expenses $ 451.4 $ 558.0 Debt 5,496.5 3,671.0 Other liabilities 22.5 13.8 Total liabilities 5,970.4 4,242.8 Redeemable Noncontrolling Interests 994.5 622.5 Stockholders ’ Equity Franklin Resources, Inc.’s interests 957.7 1,000.7 Nonredeemable noncontrolling interests 403.9 371.3 Total stockholders’ equity 1,361.6 1,372.0 Total Liabilities, Redeemable Noncontrolling Interests and Stockholders ’ Equity $ 8,326.5 $ 6,237.3
Schedule of assets 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 June 30, 2022 Assets Cash and cash equivalents of CLOs $ 299.5 $ — $ — $ — $ 299.5 Receivables of CLOs — 105.0 — — 105.0 Investments Equity and debt securities 79.5 875.2 557.0 217.7 1,729.4 Loans — 5,467.8 37.6 — 5,505.4 Real estate — — 240.5 — 240.5 Total Assets Measured at Fair Value $ 379.0 $ 6,448.0 $ 835.1 $ 217.7 $ 7,879.8 (in millions) Level 1 Level 2 Level 3 NAV as a Total as of September 30, 2021 Assets Cash and cash equivalents of CLOs $ 145.4 $ — $ — $ — $ 145.4 Receivables of CLOs — 84.0 — — 84.0 Investments Equity and debt securities 310.8 647.3 453.3 343.5 1,754.9 Loans — 3,955.3 20.5 — 3,975.8 Real estate — — 89.4 — 89.4 Total Assets Measured at Fair Value $ 456.2 $ 4,686.6 $ 563.2 $ 343.5 $ 6,049.5
Schedule of CIPs investments measured at NAV	Investments for which fair value was estimated using reported NAV as a practical expedient consist of a redeemable global hedge fund, nonredeemable private equity funds and a redeemable U.S. equity fund. These investments were as follows: (in millions) June 30, September 30, Nonredeemable investments 1 Investments with known liquidation periods $ 38.2 $ 141.4 Investments with unknown liquidation periods 12.2 — Redeemable investments 2 167.3 202.1 Unfunded commitments 3 0.2 0.5
Schedule of changes in Level 3 assets of CIPs	Changes in Level 3 assets were as follows: (in millions) Equity and Debt Real Estate Loans Total for the three months ended June 30, 2022 Balance at April 1, 2022 $ 595.4 $ 175.4 $ 33.6 $ 804.4 Realized and unrealized gains (losses) included in investment and other income (losses) of consolidated investment products, net (31.7) 4.1 0.2 (27.4) Purchases 6.5 61.0 (0.1) 67.4 Sales and settlements (13.1) — (0.1) (13.2) Deconsolidations — — (1.7) (1.7) Transfers into Level 3 — — 5.7 5.7 Transfers out of Level 3 (0.1) — — (0.1) Balance at June 30, 2022 $ 557.0 $ 240.5 $ 37.6 $ 835.1 Change in unrealized gains (losses) included in net income relating to assets held at June 30, 2022 $ (32.2) $ 4.1 $ 0.2 $ (27.9) (in millions) Equity and Debt Real Estate Loans Total for the nine months ended June 30, 2022 Balance at October 1, 2021 $ 453.3 $ 89.4 $ 20.5 $ 563.2 Realized and unrealized gains (losses) included in investment and other income (losses) of consolidated investment products, net 138.6 18.4 0.2 157.2 Purchases 140.0 132.7 14.0 286.7 Sales and settlements (118.9) — (1.1) (120.0) Deconsolidations (55.0) — (1.7) (56.7) Transfers into Level 3 0.1 — 5.7 5.8 Transfers out of Level 3 (1.1) — — (1.1) Balance at June 30, 2022 $ 557.0 $ 240.5 $ 37.6 $ 835.1 Change in unrealized gains included in net income relating to assets held at June 30, 2022 $ 126.6 $ 18.4 $ — $ 145.0 (in millions) Equity and Debt Real Estate Loans Total for the three months ended June 30, 2021 Balance at April 1, 2021 $ 271.2 $ 423.5 $ 22.4 $ 717.1 Realized and unrealized gains included in investment and other income (losses) of consolidated investment products, net 6.2 2.4 0.2 8.8 Purchases 14.0 44.2 — 58.2 Sales and settlements (2.4) — (1.2) (3.6) Deconsolidations — (448.8) — (448.8) Transfers into Level 3 0.9 — — 0.9 Transfers out of Level 3 (1.0) — — (1.0) Foreign exchange revaluation — 1.2 — 1.2 Balance at June 30, 2021 $ 288.9 $ 22.5 $ 21.4 $ 332.8 Change in unrealized gains (losses) included in net income relating to assets held at June 30, 2021 $ 6.2 $ (0.5) $ 0.2 $ 5.9 (in millions) Equity and Debt Real Estate Loans Total for the nine months ended June 30, 2021 Balance at October 1, 2020 $ 322.3 $ 339.2 $ 24.9 $ 686.4 Realized and unrealized gains included in investment and other income (losses) of consolidated investment products, net 26.3 5.1 0.2 31.6 Purchases 34.1 116.5 — 150.6 Sales and settlements (59.4) — (3.7) (63.1) Deconsolidations (36.2) (448.8) — (485.0) Transfers into Level 3 2.1 — — 2.1 Transfers out of Level 3 (1.0) — — (1.0) Foreign exchange revaluation 0.7 10.5 — 11.2 Balance at June 30, 2021 $ 288.9 $ 22.5 $ 21.4 $ 332.8 Change in unrealized gains included in net income relating to assets held at June 30, 2021 $ 25.9 $ 2.2 $ 0.3 $ 28.4
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 June 30, 2022 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Equity and debt securities $ 492.7 Market pricing Private sale pricing $0.39–$789.78 ($45.27) per share 64.3 Market comparable companies Enterprise value/ 14.7 Discount for lack of marketability 14.6%–25.0% (19.4%) Price-to-book value ratio 1.2 Real estate 240.5 Discounted cash flow Discount rate 5.5%–6.3% (6.0%) Exit capitalization rate 4.5%–5.5% (4.9%) (in millions) as of September 30, 2021 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average 1 ) Equity and debt securities $ 301.1 Market pricing Private sale pricing $0.39-$100.00 ($19.34) per share 102.3 Market comparable companies Enterprise value/ 6.0–20.6 (13.7) Discount for lack of marketability 6.0%–25.5% (17.6%) Enterprise value/ 0.6–7.2 (5.1) Price-to-book value ratio 0.7–1.8 (1.4) Control premium 20% Price-to-earnings ratio 28.8 49.9 Discounted cash flow Discount rate 3.3%–6.3% (4.3%) Real estate 89.4 Discounted cash flow Discount rate 5.8%–6.0% (5.9%) Exit capitalization rate 5.0%–5.3% (5.1%)
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 June 30, 2022 September 30, 2021 Carrying Estimated Carrying Estimated Financial Asset Cash and cash equivalents 1 $ 372.9 $ 372.9 $ 144.0 $ 144.0 Receivables of CLOs 2 16.7 16.7 — — Financial Liabilities Debt of CLOs 1 2 or 3 $ 5,396.8 $ 5,437.8 $ 3,634.1 $ 3,610.6 Other debt 3 99.7 92.9 36.9 36.6
Schedule of debt of CIPs	Debt of CIPs consisted of the following: June 30, 2022 September 30, 2021 (in millions) Amount Weighted- Amount Weighted- Debt of CLOs $ 5,396.8 2.03% $ 3,634.1 2.11% Other debt 99.7 3.73% 36.9 1.95% Total $ 5,496.5 $ 3,671.0
Schedule of contractual maturities for debt of CIPs	The contractual maturities for the debt of CIPs at June 30, 2022 were as follows: (in millions) for the fiscal years ending September 30, Amount 2022 (remainder of year) $ 99.4 2023 21.9 2024 84.2 2025 — 2026 — Thereafter 5,291.0 Total $ 5,496.5
Schedule of unpaid principal balance and fair value of investments of CLOs	The unpaid principal balance and fair value of the investments of CLOs were as follows: (in millions) June 30, September 30, Unpaid principal balance $ 5,549.5 $ 3,951.1 Difference between unpaid principal balance and fair value (46.9) 20.9 Fair Value $ 5,502.6 $ 3,972.0

Redeemable Noncontrolling Int_2

Redeemable Noncontrolling Interests (Tables)	9 Months Ended
Redeemable Noncontrolling Interests (Tables)	Jun. 30, 2022
Noncontrolling Interest [Abstract]
Schedule of changes in redeemable noncontrolling interests of CIPs	Changes in redeemable noncontrolling interests were as follows: (in millions) 2022 2021 CIPs Minority Interests Total CIPs Minority Interests Total for the three months ended June 30, Balance at beginning of period $ 625.3 $ 512.8 $ 1,138.1 $ 609.9 $ 205.8 $ 815.7 Net income (loss) (16.5) 16.0 (0.5) 23.5 10.2 33.7 Net subscriptions (distributions) and other 5.4 (29.6) (24.2) 190.1 (18.1) 172.0 Net consolidations 380.3 — 380.3 31.3 — 31.3 Balance at End of Period $ 994.5 $ 499.2 $ 1,493.7 $ 854.8 $ 197.9 $ 1,052.7 (in millions) 2022 2021 CIPs Minority Interests Total CIPs Minority Interests Total for the nine months ended June 30, Balance at beginning of period $ 622.5 $ 310.5 $ 933.0 $ 397.3 $ 144.6 $ 541.9 Net income (loss) (90.9) 40.7 (50.2) 42.9 21.5 64.4 Net subscriptions (distributions) and other 320.0 (40.5) 279.5 270.0 (20.5) 249.5 Net consolidations 142.9 — 142.9 144.6 — 144.6 Adjustment to fair value — 188.5 188.5 — 52.3 52.3 Balance at End of Period $ 994.5 $ 499.2 $ 1,493.7 $ 854.8 $ 197.9 $ 1,052.7

Nonconsolidated Variable Inte_2

Nonconsolidated Variable Interest Entities (Tables)	9 Months Ended
Nonconsolidated Variable Interest Entities (Tables)	Jun. 30, 2022
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, investment management and other fee receivables as follows: (in millions) June 30, September 30, Investments $ 728.7 $ 639.2 Receivables 175.9 172.1 Total $ 904.6 $ 811.3

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
Stock-Based Compensation (Tables)	Jun. 30, 2022
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 Performance- Total Weighted- for the nine months ended June 30, 2022 Nonvested balance at October 1, 2021 14,176 3,658 17,834 $ 22.27 Granted 4,713 227 4,940 34.36 Vested (1,891) (98) (1,989) 25.43 Forfeited/canceled (435) (188) (623) 26.20 Nonvested Balance at June 30, 2022 16,563 3,599 20,162 $ 24.48

Investment and Other Income, _2

Investment and Other Income, Net (Tables)	9 Months Ended
Investment and Other Income, Net (Tables)	Jun. 30, 2022
Other Income and Expenses [Abstract]
Schedule of investment and other income (losses), net	Investment and other income, net consisted of the following: Three Months Ended Nine Months Ended (in millions) 2022 2021 2022 2021 Dividend and interest income $ 6.3 $ 3.4 $ 17.5 $ 12.4 Gains (losses) on investments, net (35.6) 17.3 (32.9) 76.2 Income (losses) from investments in equity method investees (0.1) 39.4 51.6 123.8 Gains (losses) on derivatives, net 17.5 (9.1) 15.2 (25.2) Rental income 9.6 7.2 27.9 22.7 Foreign currency exchange gains (losses), net 14.5 (7.2) 24.2 (17.2) Other, net 0.8 1.9 (5.8) 4.5 Investment and other income, net $ 13.0 $ 52.9 $ 97.7 $ 197.2

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
Accumulated Other Comprehensive Income (Loss) (Tables)	Jun. 30, 2022
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 Total for the three months ended June 30, 2022 Balance at April 1, 2022 $ (393.7) $ (6.9) $ (400.6) Other comprehensive loss Other comprehensive loss before reclassifications, net of tax (101.5) (2.4) (103.9) Reclassifications to net investment and other income, net of tax 0.9 — 0.9 Total other comprehensive loss (100.6) (2.4) (103.0) Balance at June 30, 2022 $ (494.3) $ (9.3) $ (503.6) (in millions) Currency Unrealized Total for the nine months ended June 30, 2022 Balance at October 1, 2021 $ (370.5) $ (7.1) $ (377.6) Other comprehensive loss Other comprehensive loss before reclassifications, net of tax (125.8) (1.6) (127.4) Reclassifications to compensation and benefits expense, net of tax — (0.6) (0.6) Reclassifications to net investment and other income, net of tax 2.0 — 2.0 Total other comprehensive loss (123.8) (2.2) (126.0) Balance at June 30, 2022 $ (494.3) $ (9.3) $ (503.6) (in millions) Currency Unrealized Total for the three months ended June 30, 2021 Balance at April 1, 2021 $ (340.9) $ (7.6) $ (348.5) Other comprehensive income (loss) Other comprehensive income (loss) before reclassifications, net of tax 21.5 (0.2) 21.3 Reclassifications to net investment and other income, net of tax 1.1 — 1.1 Total other comprehensive income (loss) 22.6 (0.2) 22.4 Balance at June 30, 2021 $ (318.3) $ (7.8) $ (326.1) (in millions) Currency Unrealized Total for the nine months ended June 30, 2021 Balance at October 1, 2020 $ (399.6) $ (8.0) $ (407.6) Other comprehensive income Other comprehensive income before reclassifications, net of tax 79.3 0.2 79.5 Reclassifications to net investment and other income, net of tax 2.0 — 2.0 Total other comprehensive income 81.3 0.2 81.5 Balance at June 30, 2021 $ (318.3) $ (7.8) $ (326.1)

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Millions			3 Months Ended		9 Months Ended
Acquisitions - Narrative (Details) - USD ($) $ in Millions	Apr. 01, 2022	Dec. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2021
Business Acquisition [Line Items]
Amortization of intangible assets			$ 81.8	$ 58	$ 200.5	$ 174.1
Goodwill			5,807.1		5,807.1		$ 4,457.7
Lexington Partners L.P.
Business Acquisition [Line Items]
Cash purchase consideration	$ 984.7
Business Combination, Consideration Transferred, Liabilities Incurred	$ 706.4
Ownership Stake	25%
Amortization of intangible assets					$ 21.3
Definite-lived Intangible Assets, Weighted Average Useful Life					7 years 3 months 18 days
Acquisition Related Costs					$ 16.3
Proforma Revenue			$ 90.7
Goodwill	$ 1,105.3
Additional future payments to Acquire Business	$ 750
Lexington Partners L.P. \| Minimum [Member]
Business Acquisition [Line Items]
Definite-Lived Intangible Asset, Useful Life					6 years
Lexington Partners L.P. \| Maximum [Member]
Business Acquisition [Line Items]
Definite-Lived Intangible Asset, Useful Life					20 years
O’Shaughnessy Asset Management, LLC
Business Acquisition [Line Items]
Cash purchase consideration		$ 300
Goodwill		$ 262.3

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Millions	Jun. 30, 2022	Apr. 01, 2022	Sep. 30, 2021
Business Acquisition [Line Items]
Goodwill	$ 5,807.1		$ 4,457.7
Lexington Partners L.P.
Business Acquisition [Line Items]
Definite-lived intangible assets		$ 552
Goodwill		1,105.3
Investments		163
Operating lease right-of-use assets		84.4
Other assets and liabilities, net		28.1
Operating lease liabilities		(91.8)
Nonredeemable noncontrolling interests		(149.9)
Total Identifiable Net Assets		$ 1,691.1
Acquired Finite-Lived Intangible Assets [Line Items]
2022 (remainder of year)	21.3
2023	85.3
2024	85.3
2025	85.3
2026	85.3
Thereafter	168.2
Total	$ 530.7

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		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share Reconciliation [Abstract]
Net income attributable to Franklin Resources, Inc.	$ 256.4	$ 438.4	$ 1,059.2	$ 1,165.5
Less: allocation of earnings to participating nonvested stock and stock unit awards - basic	11.2	19.4	45.6	50.6
Less: allocation of earnings to participating nonvested stock and stock unit awards - diluted	11.2	19.4	45.6	50.6
Net Income Available to Common Stockholders - basic	245.2	419	1,013.6	1,114.9
Net Income Available to Common Stockholders - diluted	$ 245.2	$ 419	$ 1,013.6	$ 1,114.9
Weighted-average shares outstanding – basic	487.5	489.2	489.1	490.3
Dilutive effect of nonparticipating nonvested stock unit awards	0.4	0.7	0.6	0.6
Weighted-Average Shares Outstanding – Diluted	487.9	489.9	489.7	490.9
Earnings per Share [Abstract]
Basic	$ 0.50	$ 0.86	$ 2.07	$ 2.27
Diluted	$ 0.50	$ 0.86	$ 2.07	$ 2.27

Revenues Narratives (Details)

Revenues Narratives (Details)	3 Months Ended		9 Months Ended
Revenues Narratives (Details)	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue From Sponsored Funds	83%	78%	81%	80%

Revenues - Schedule of Operatin

Revenues - Schedule of Operating Revenues by Geographic Area (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	$ 2,031.3	$ 2,172.9	$ 6,336.3	$ 6,244.5
Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	1,636.1	1,697.3	5,045.8	4,836.1
Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	335.6	416.9	1,104	1,227.4
Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	46.9	50.5	146.8	155.6
Other [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	12.7	8.2	39.7	25.4
United States [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	1,522.3	1,552.8	4,653.5	4,406.3
United States [Member] \| Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	1,234.7	1,213	3,720.8	3,416.1
United States [Member] \| Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	238.1	293.7	778.1	852.4
United States [Member] \| Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	37.5	38.3	116.4	119.9
United States [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	12	7.8	38.2	17.9
Luxembourg [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	300.6	380.8	1,004.2	1,125.2
Luxembourg [Member] \| Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	211.6	269.9	707.2	803.2
Luxembourg [Member] \| Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	80.2	100.5	268.3	295.2
Luxembourg [Member] \| Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	8.5	10.1	27.9	26
Luxembourg [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	0.3	0.3	0.8	0.8
Asia-Pacific [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	77.6	96.2	264.1	292.9
Asia-Pacific [Member] \| Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	71.2	85.7	242.5	248
Asia-Pacific [Member] \| Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	5.8	8.4	20	37.4
Asia-Pacific [Member] \| Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	0.4	2	1.1	5.9
Asia-Pacific [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	0.2	0.1	0.5	1.6
Americas Excluding United States [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	71	87.2	232.1	251.8
Americas Excluding United States [Member] \| Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	59.4	73.1	194.3	212.7
Americas Excluding United States [Member] \| Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	11.5	14	37.6	38.9
Americas Excluding United States [Member] \| Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	0.1	0.1	0.2	0.2
Americas Excluding United States [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	0	0	0	0
Europe, Middle East and Africa, Excluding Luxembourg [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	59.8	55.9	182.4	168.3
Europe, Middle East and Africa, Excluding Luxembourg [Member] \| Investment management fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	59.2	55.6	181	156.1
Europe, Middle East and Africa, Excluding Luxembourg [Member] \| Sales and distribution fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	0	0.3	0	3.5
Europe, Middle East and Africa, Excluding Luxembourg [Member] \| Shareholder servicing fees [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	0.4	0	1.2	3.6
Europe, Middle East and Africa, Excluding Luxembourg [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Operating revenues by geographic area	$ 0.2	$ 0	$ 0.2	$ 5.1

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
Investments - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2022
Investments [Abstract]
Other-than-temporary impairment	$ 8.7	$ 29.9

Investments - Summary of Invest

Investments - Summary of Investments (Details) - USD ($) $ in Millions	Jun. 30, 2022	Sep. 30, 2021
Investment Holdings [Line Items]
Total investments, at fair value	$ 660.8	$ 588.3
Investments in equity method investees	744.5	814.3
Other investments	253.2	107.7
Total	1,658.5	1,510.3
Sponsored funds and separate accounts [Member]
Investment Holdings [Line Items]
Investments, at fair value	463.5	368.3
Investments related to long-term incentive plans [Member]
Investment Holdings [Line Items]
Investments, at fair value	141	160
Other equity and debt investments [Member]
Investment Holdings [Line Items]
Investments, at fair value	$ 56.3	$ 60

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Jun. 30, 2022	Sep. 30, 2021
Sponsored funds and separate accounts [Member]
Assets [Abstract]
Investments, at fair value	$ 463.5	$ 368.3
Investments related to long-term incentive plans [Member]
Assets [Abstract]
Investments, at fair value	141	160
Other equity and debt investments [Member]
Assets [Abstract]
Investments, at fair value	56.3	60
Fair Value, Recurring [Member]
Assets [Abstract]
Contingent consideration asset	8.8	19.4
Total Assets Measured at Fair Value	669.6	607.7
Liability [Abstract]
Contingent consideration liabilities	60.1	42.4
Fair Value, Recurring [Member] \| Level 1 [Member]
Assets [Abstract]
Contingent consideration asset	0	0
Total Assets Measured at Fair Value	478.4	404.6
Liability [Abstract]
Contingent consideration liabilities	0	0
Fair Value, Recurring [Member] \| Level 2 [Member]
Assets [Abstract]
Contingent consideration asset	0	0
Total Assets Measured at Fair Value	67.9	31.7
Liability [Abstract]
Contingent consideration liabilities	0	0
Fair Value, Recurring [Member] \| Level 3 [Member]
Assets [Abstract]
Contingent consideration asset	8.8	19.4
Total Assets Measured at Fair Value	28	44
Liability [Abstract]
Contingent consideration liabilities	60.1	42.4
Fair Value, Recurring [Member] \| NAV as a Practical Expedient [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	95.3	127.4
Fair Value, Recurring [Member] \| Sponsored funds and separate accounts [Member]
Assets [Abstract]
Investments, at fair value	463.5	368.3
Fair Value, Recurring [Member] \| Sponsored funds and separate accounts [Member] \| Level 1 [Member]
Assets [Abstract]
Investments, at fair value	334.2	241.3
Fair Value, Recurring [Member] \| Sponsored funds and separate accounts [Member] \| Level 2 [Member]
Assets [Abstract]
Investments, at fair value	48.4	18.4
Fair Value, Recurring [Member] \| Sponsored funds and separate accounts [Member] \| Level 3 [Member]
Assets [Abstract]
Investments, at fair value	19.2	24.6
Fair Value, Recurring [Member] \| Sponsored funds and separate accounts [Member] \| NAV as a Practical Expedient [Member]
Assets [Abstract]
Investments, at fair value	61.7	84
Fair Value, Recurring [Member] \| Investments related to long-term incentive plans [Member]
Assets [Abstract]
Investments, at fair value	141	160
Fair Value, Recurring [Member] \| Investments related to long-term incentive plans [Member] \| Level 1 [Member]
Assets [Abstract]
Investments, at fair value	141	160
Fair Value, Recurring [Member] \| Investments related to long-term incentive plans [Member] \| Level 2 [Member]
Assets [Abstract]
Investments, at fair value	0	0
Fair Value, Recurring [Member] \| Investments related to long-term incentive plans [Member] \| Level 3 [Member]
Assets [Abstract]
Investments, at fair value	0	0
Fair Value, Recurring [Member] \| Investments related to long-term incentive plans [Member] \| NAV as a Practical Expedient [Member]
Assets [Abstract]
Investments, at fair value	0	0
Fair Value, Recurring [Member] \| Other equity and debt investments [Member]
Assets [Abstract]
Investments, at fair value	56.3	60
Fair Value, Recurring [Member] \| Other equity and debt investments [Member] \| Level 1 [Member]
Assets [Abstract]
Investments, at fair value	3.2	3.3
Fair Value, Recurring [Member] \| Other equity and debt investments [Member] \| Level 2 [Member]
Assets [Abstract]
Investments, at fair value	19.5	13.3
Fair Value, Recurring [Member] \| Other equity and debt investments [Member] \| Level 3 [Member]
Assets [Abstract]
Investments, at fair value	0	0
Fair Value, Recurring [Member] \| Other equity and debt investments [Member] \| NAV as a Practical Expedient [Member]
Assets [Abstract]
Investments, at fair value	$ 33.6	$ 43.4

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of investments measured at NAV (Details) - USD ($) $ in Millions		9 Months Ended	12 Months Ended
		Jun. 30, 2022	Sep. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unfunded commitments		$ 51.4	$ 51.8
Nonredeemable investments with unknown liquidation periods
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Alternative Investment	[1]	35.8	46.6
Nonredeemable investments with known liquidation periods
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Alternative Investment	[1]	$ 33.9	$ 53.9
Liquidation weighted-average period		3 years 7 months 6 days	4 years
Redeemable Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Alternative Investment	[2]	$ 25.6	$ 26.9

[1]The 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 have an expected weighted-average life of 3.6 years and 4.0 years at June 30, 2022 and September 30, 2021.[2]Investments are redeemable on a monthly and quarterly basis.

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Changes in Level 3 Assets and Liabilities (Details) - Level 3 [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Contingent Consideration Liabilities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period - liabilities	$ (56.5)	$ (25.3)	$ (42.4)	$ (25.3)
Acquisitions - liabilities			(24.5)	0
Purchases - liabilities	0	0	0	0
Sales - liabilities	0	0	0	0
Settlements - liabilities	0	0	9.1	0
Transfers out of Level 3 - liabilities			0	0
Foreign exchange revaluation	0.1	0	0.3	0
Balance at End of Period - liabilities	(60.1)	(25.3)	(60.1)	(25.3)
Change in unrealized gains (losses) included in net income relating to assets and liabilities held at end of period - liabilities	(3.7)	0	(2.4)	0
Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period - assets	21.9	19.5	24.6	17.4
Purchases - assets	3.8	5.3	14.1	13.8
Sales - assets	(1.6)	(0.3)	(7.9)	(5.8)
Settlements - assets	(1.1)	0	(4.3)	(0.5)
Deconsolidations	(5)		(5)
Transfers out of Level 3 - assets			(1.9)	(0.2)
Foreign exchange revaluation	0	0	0	0
Balance at End of Period - assets	19.2	24.7	19.2	24.7
Change in unrealized gains (losses) included in net income relating to assets and liabilities held at end of period - assets	(0.3)	0.2	(0.7)	0
Contingent Consideration Asset [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period - assets	17.1	29.1	19.4	39.7
Purchases - assets	0	0	0	0
Sales - assets	0	0	0	0
Settlements - assets	(8.3)	(5)	(20.9)	(15.6)
Transfers out of Level 3 - assets			0	0
Foreign exchange revaluation	0	0	0	0
Balance at End of Period - assets	8.8	24.1	8.8	24.1
Change in unrealized gains (losses) included in net income relating to assets and liabilities held at end of period - assets	0	0	10.3	0
Investment and other income, net [Member] \| Contingent Consideration Liabilities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total realized and unrealized gains (losses) - liabilities	0	0	0	0
Investment and other income, net [Member] \| Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total realized and unrealized gains (losses) - assets	1.2	0.2	(0.4)	0
Investment and other income, net [Member] \| Contingent Consideration Asset [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 Liabilities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total realized and unrealized gains (losses) - liabilities	(3.7)	0	(2.6)	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 Asset [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total realized and unrealized gains (losses) - assets	$ 0	$ 0	$ 10.3	$ 0

Fair Value Measurements - Sch_4

Fair Value Measurements - Schedule of Financial Instruments not Measured at Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2022	Sep. 30, 2021
Financial Assets [Abstract]
Other investments	$ 253.2	$ 107.7
Financial Liability [Abstract]
Debt	3,382.2	3,399.4
Carrying Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	3,806.3	4,357.8
Time deposits	10.8	13.2
Financial Liability [Abstract]
Debt	3,382.2	3,399.4
Estimated Fair Value [Member] \| Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	3,806.3	4,357.8
Estimated Fair Value [Member] \| Level 2 [Member]
Financial Assets [Abstract]
Time deposits	10.8	13.2
Financial Liability [Abstract]
Debt	2,878.6	3,434.1
Equity securities [Member] \| Carrying Value [Member]
Financial Assets [Abstract]
Other investments	242.4	94.5
Equity securities [Member] \| Estimated Fair Value [Member] \| Level 3 [Member]
Financial Assets [Abstract]
Other investments	$ 242.4	$ 99.1

Debt - Narrative (Details)

Debt - Narrative (Details) $ in Millions	Jan. 10, 2022 USD ($)
Revolving Credit Facility
Debt Instrument [Line Items]
Aggregate commitments	$ 500

Consolidated Investment Produ_3

Consolidated Investment Products - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2022 USD ($) CIPs	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) CIPs	Jun. 30, 2021 USD ($)	Sep. 30, 2021 USD ($) CIPs
Consolidated Investment Products [Abstract]
Number of consolidated investment products \| CIPs	58		58		60
Number of CLOs \| CIPs	14		14		10
CIPs [Member] \| Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Stated interest rate	3.31%		3.31%		1.63%
CIPs [Member] \| Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Stated interest rate	6%		6%		2.42%
Collateralized loan obligations [Member]
Schedule Of Consolidated Investment Products [Line Items]
Net gains related to its own economic interests \| $	$ 4.9	$ 1.1	$ 17.8	$ 8.5
Debt, unpaid principal balance \| $	$ 5,463.1		$ 5,463.1		$ 3,629.9
Collateralized loan obligations [Member] \| CIPs [Member] \| Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Stated interest rate	1%		1%		1%
Collateralized loan obligations [Member] \| CIPs [Member] \| Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Stated interest rate	8.27%		8.27%		8.22%

Consolidated Investment Produ_4

Consolidated Investment Products - Schedule of Balances of CIPs (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020
Assets [Abstract]
Receivables	$ 1,414.8			$ 1,428.2
Investments, at fair value	660.8			588.3
Total Assets	27,596			24,168.4
Liabilities [Abstract]
Accounts payable and accrued expenses	541.7			479.3
Debt	3,382.2			3,399.4
Other liabilities	1,133.9			354.3
Total liabilities	13,817.2			11,424.8
Redeemable Noncontrolling Interests	1,493.7			933
Stockholders' Equity [Abstract]
Franklin Resources, Inc.’s interests	11,543.7			11,223.4
Nonredeemable noncontrolling interests	741.4			587.2
Total stockholders’ equity	12,285.1	$ 12,189.6	$ 12,196.4	11,810.6	$ 11,430.8	$ 11,518.6	$ 11,279.6	$ 10,869.1
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	27,596			24,168.4
CIPs [Member]
Assets [Abstract]
Cash and cash equivalents	672.4			289.4
Receivables	178.8			127.8
Investments, at fair value	7,475.3			5,820.1
Total Assets	8,326.5			6,237.3
Liabilities [Abstract]
Accounts payable and accrued expenses	451.4			558
Debt	5,496.5			3,671
Other liabilities	22.5			13.8
Total liabilities	5,970.4			4,242.8
Redeemable Noncontrolling Interests	994.5	$ 625.3		622.5	$ 854.8	$ 609.9		$ 397.3
Stockholders' Equity [Abstract]
Franklin Resources, Inc.’s interests	957.7			1,000.7
Nonredeemable noncontrolling interests	403.9			371.3
Total stockholders’ equity	1,361.6			1,372
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	$ 8,326.5			$ 6,237.3

Consolidated Investment Produ_5

Consolidated Investment Products - Schedule of Balances of Assets and Liabilities of CIPs Measured at Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2022	Sep. 30, 2021
Assets [Abstract]
Investments, at fair value	$ 660.8	$ 588.3
CIPs [Member]
Assets [Abstract]
Investments, at fair value	7,475.3	5,820.1
Fair Value, Recurring [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	669.6	607.7
Fair Value, Recurring [Member] \| Level 1 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	478.4	404.6
Fair Value, Recurring [Member] \| Level 2 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	67.9	31.7
Fair Value, Recurring [Member] \| Level 3 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	28	44
Fair Value, Recurring [Member] \| NAV as a Practical Expedient [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	95.3	127.4
Fair Value, Recurring [Member] \| CIPs [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	7,879.8	6,049.5
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 1 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	379	456.2
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 2 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	6,448	4,686.6
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	835.1	563.2
Fair Value, Recurring [Member] \| CIPs [Member] \| NAV as a Practical Expedient [Member]
Assets [Abstract]
Total Assets Measured at Fair Value	217.7	343.5
Equity and debt securities [Member] \| Fair Value, Recurring [Member] \| CIPs [Member]
Assets [Abstract]
Investments, at fair value	1,729.4	1,754.9
Equity and debt securities [Member] \| Fair Value, Recurring [Member] \| CIPs [Member] \| Level 1 [Member]
Assets [Abstract]
Investments, at fair value	79.5	310.8
Equity and debt securities [Member] \| Fair Value, Recurring [Member] \| CIPs [Member] \| Level 2 [Member]
Assets [Abstract]
Investments, at fair value	875.2	647.3
Equity and debt securities [Member] \| Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member]
Assets [Abstract]
Investments, at fair value	557	453.3
Equity and debt securities [Member] \| Fair Value, Recurring [Member] \| CIPs [Member] \| NAV as a Practical Expedient [Member]
Assets [Abstract]
Investments, at fair value	217.7	343.5
Loans [Member] \| Fair Value, Recurring [Member] \| CIPs [Member]
Assets [Abstract]
Investments, at fair value	5,505.4	3,975.8
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	5,467.8	3,955.3
Loans [Member] \| Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member]
Assets [Abstract]
Investments, at fair value	37.6	20.5
Real Estate [Member] \| Fair Value, Recurring [Member] \| CIPs [Member]
Assets [Abstract]
Investments, at fair value	240.5	89.4
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	240.5	89.4
Collateralized loan obligations [Member]
Assets [Abstract]
Investments, at fair value	5,502.6	3,972
Collateralized loan obligations [Member] \| Fair Value, Recurring [Member]
Assets [Abstract]
Cash and cash equivalents of CLOs	299.5	145.4
Receivables of CLOs	105	84
Collateralized loan obligations [Member] \| Fair Value, Recurring [Member] \| Level 1 [Member]
Assets [Abstract]
Cash and cash equivalents of CLOs	299.5	145.4
Receivables of CLOs	0	0
Collateralized loan obligations [Member] \| Fair Value, Recurring [Member] \| Level 2 [Member]
Assets [Abstract]
Cash and cash equivalents of CLOs	0	0
Receivables of CLOs	105	84
Collateralized loan obligations [Member] \| Fair Value, Recurring [Member] \| Level 3 [Member]
Assets [Abstract]
Cash and cash equivalents of CLOs	0	0
Receivables of CLOs	$ 0	$ 0

Consolidated Investment Produ_6

Consolidated Investment Products - Schedule of Investments measured at NAV (Details) - USD ($) $ in Millions		9 Months Ended	12 Months Ended
		Jun. 30, 2022	Sep. 30, 2021
Schedule Of Consolidated Investment Products [Line Items]
Unfunded commitments		$ 51.4	$ 51.8
Nonredeemable investments with known liquidation periods
Schedule Of Consolidated Investment Products [Line Items]
Alternative Investment	[1]	$ 33.9	$ 53.9
Liquidation weighted-average period		3 years 7 months 6 days	4 years
Nonredeemable investments with unknown liquidation periods
Schedule Of Consolidated Investment Products [Line Items]
Alternative Investment	[1]	$ 35.8	$ 46.6
Redeemable Funds
Schedule Of Consolidated Investment Products [Line Items]
Alternative Investment	[2]	25.6	26.9
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Unfunded commitments	[3]	0.2	0.5
Unfunded commitments Company contractually obligated to fund		0.1	0.2
CIPs [Member] \| Nonredeemable investments with known liquidation periods
Schedule Of Consolidated Investment Products [Line Items]
Alternative Investment	[4]	38.2	141.4
CIPs [Member] \| Nonredeemable investments with unknown liquidation periods
Schedule Of Consolidated Investment Products [Line Items]
Alternative Investment	[4]	12.2	0
CIPs [Member] \| Redeemable Funds
Schedule Of Consolidated Investment Products [Line Items]
Alternative Investment	[5]	$ 167.3	$ 202.1
CIPs [Member] \| Nonredeemable Private Debt, Equity and Infrastructure Funds [Member]
Schedule Of Consolidated Investment Products [Line Items]
Liquidation weighted-average period		6 months	1 year 3 months 18 days

[1]The 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 have an expected weighted-average life of 3.6 years and 4.0 years at June 30, 2022 and September 30, 2021.[2]Investments are redeemable on a monthly and quarterly basis.[3]Of the total unfunded commitments, the Company was contractually obligated to fund $0.1 million and $0.2 million based on its ownership percentage in the CIPs, at June 30, 2022 and September 30, 2021.[4]The 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 have an expected weighted-average life of 0.5 year at June 30, 2022 and 1.3 years at September 30, 2021.[5]Investments are redeemable on a monthly basis and liquidation periods are unknown.

Consolidated Investment Produ_7

Consolidated Investment Products - Schedule of Changes in Level 3 Assets of CIPs (Details) - CIPs [Member] - Level 3 [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of period - assets	$ 804.4	$ 717.1	$ 563.2	$ 686.4
Realized and unrealized gains (losses) included in investment and other income (losses) of consolidated investment products, net	(27.4)	8.8	157.2	31.6
Purchases	67.4	58.2	286.7	150.6
Sales and settlements	(13.2)	(3.6)	(120)	(63.1)
Deconsolidations	(1.7)	(448.8)	(56.7)	(485)
Transfers into Level 3	5.7	0.9	5.8	2.1
Foreign exchange revaluation		1.2		11.2
Transfers out of Level 3 - assets	(0.1)	(1)	(1.1)	(1)
Balance at End of Period - assets	835.1	332.8	835.1	332.8
Change in unrealized gains (losses) included in net income relating to assets held at June 30, 2022	(27.9)	5.9	145	28.4
Equity and debt securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of period - assets	595.4	271.2	453.3	322.3
Realized and unrealized gains (losses) included in investment and other income (losses) of consolidated investment products, net	(31.7)	6.2	138.6	26.3
Purchases	6.5	14	140	34.1
Sales and settlements	(13.1)	(2.4)	(118.9)	(59.4)
Deconsolidations	0	0	(55)	(36.2)
Transfers into Level 3	0	0.9	0.1	2.1
Foreign exchange revaluation		0		0.7
Transfers out of Level 3 - assets	(0.1)	(1)	(1.1)	(1)
Balance at End of Period - assets	557	288.9	557	288.9
Change in unrealized gains (losses) included in net income relating to assets held at June 30, 2022	(32.2)	6.2	126.6	25.9
Real Estate [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of period - assets	175.4	423.5	89.4	339.2
Realized and unrealized gains (losses) included in investment and other income (losses) of consolidated investment products, net	4.1	2.4	18.4	5.1
Purchases	61	44.2	132.7	116.5
Sales and settlements	0	0	0	0
Deconsolidations	0	(448.8)	0	(448.8)
Transfers into Level 3	0	0	0	0
Foreign exchange revaluation		1.2		10.5
Transfers out of Level 3 - assets	0	0	0	0
Balance at End of Period - assets	240.5	22.5	240.5	22.5
Change in unrealized gains (losses) included in net income relating to assets held at June 30, 2022	4.1	(0.5)	18.4	2.2
Loans [Member]
Schedule Of Consolidated Investment Products [Line Items]
Balance at beginning of period - assets	33.6	22.4	20.5	24.9
Realized and unrealized gains (losses) included in investment and other income (losses) of consolidated investment products, net	0.2	0.2	0.2	0.2
Purchases	(0.1)	0	14	0
Sales and settlements	(0.1)	(1.2)	(1.1)	(3.7)
Deconsolidations	(1.7)	0	(1.7)	0
Transfers into Level 3	5.7	0	5.7	0
Foreign exchange revaluation		0		0
Transfers out of Level 3 - assets		0	0	0
Balance at End of Period - assets	37.6	21.4	37.6	21.4
Change in unrealized gains (losses) included in net income relating to assets held at June 30, 2022	$ 0.2	$ 0.2	$ 0	$ 0.3

Consolidated Investment Produ_8

Consolidated Investment Products - Schedule of Valuation Techniques and Significant Unobservable Inputs used in Level 3 Fair Value Measurements (Details) $ in Millions		Jun. 30, 2022 USD ($) $ / shares	Sep. 30, 2021 USD ($) $ / shares
Schedule Of Consolidated Investment Products [Line Items]
Total investments, at fair value		$ 660.8	$ 588.3
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Total investments, at fair value		7,475.3	5,820.1
Fair Value, Recurring [Member] \| CIPs [Member] \| Equity and debt securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Total investments, at fair value		1,729.4	1,754.9
Fair Value, Recurring [Member] \| CIPs [Member] \| Real Estate [Member]
Schedule Of Consolidated Investment Products [Line Items]
Total investments, at fair value		240.5	89.4
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity and debt securities [Member]
Schedule Of Consolidated Investment Products [Line Items]
Total investments, at fair value		557	453.3
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity and debt securities [Member] \| Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Total investments, at fair value			$ 49.9
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity and debt securities [Member] \| Discounted cash flow [Member] \| Discount rate [Member] \| Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input			0.033
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity and debt securities [Member] \| Discounted cash flow [Member] \| Discount rate [Member] \| Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input			0.063
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity and debt securities [Member] \| Discounted cash flow [Member] \| Discount rate [Member] \| Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]		0.043
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity and debt securities [Member] \| Market pricing [Member]
Schedule Of Consolidated Investment Products [Line Items]
Total investments, at fair value		$ 492.7	$ 301.1
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity and debt securities [Member] \| Market pricing [Member] \| Private sale pricing [Member] \| Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input \| $ / shares		0.39	0.39
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity and debt securities [Member] \| Market pricing [Member] \| Private sale pricing [Member] \| Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input \| $ / shares		789.78	100
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity and debt securities [Member] \| Market pricing [Member] \| Private sale pricing [Member] \| Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input \| $ / shares	[1]	45.27	19.34
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity and debt securities [Member] \| Market comparable companies [Member]
Schedule Of Consolidated Investment Products [Line Items]
Total investments, at fair value		$ 64.3	$ 102.3
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity and debt securities [Member] \| Market comparable companies [Member] \| Discount for lack of marketability [Member] \| Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.146	0.060
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity and debt securities [Member] \| Market comparable companies [Member] \| Discount for lack of marketability [Member] \| Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.250	0.255
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity and debt 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]	0.194	0.176
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity and debt securities [Member] \| Market comparable companies [Member] \| EBITDA multiple [Member] \| Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input			6
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity and debt securities [Member] \| Market comparable companies [Member] \| EBITDA multiple [Member] \| Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input			20.6
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity and debt securities [Member] \| Market comparable companies [Member] \| EBITDA multiple [Member] \| Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	14.7	13.7
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity and debt securities [Member] \| Market comparable companies [Member] \| Control premium [Member] \| Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]		0.20
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity and debt securities [Member] \| Market comparable companies [Member] \| Revenue multiple [Member] \| Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input			0.6
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity and debt securities [Member] \| Market comparable companies [Member] \| Revenue multiple [Member] \| Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input			7.2
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity and debt securities [Member] \| Market comparable companies [Member] \| Revenue multiple [Member] \| Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]		5.1
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity and 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]		28.8
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity and debt securities [Member] \| Market comparable companies [Member] \| Price to book value ratio [Member] \| Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input			0.7
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity and debt securities [Member] \| Market comparable companies [Member] \| Price to book value ratio [Member] \| Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input			1.8
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Equity and debt securities [Member] \| Market comparable companies [Member] \| Price to book value ratio [Member] \| Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	1.2	1.4
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Real Estate [Member]
Schedule Of Consolidated Investment Products [Line Items]
Total investments, at fair value		$ 240.5	$ 89.4
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Real Estate [Member] \| Discounted cash flow [Member]
Schedule Of Consolidated Investment Products [Line Items]
Total investments, at fair value		$ 240.5	$ 89.4
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		0.055	0.058
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		0.063	0.060
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]	0.060	0.059
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Real Estate [Member] \| Discounted cash flow [Member] \| Exit Capitalization Rate [Member] \| Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.045	0.050
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Real Estate [Member] \| Discounted cash flow [Member] \| Exit Capitalization Rate [Member] \| Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input		0.055	0.053
Fair Value, Recurring [Member] \| CIPs [Member] \| Level 3 [Member] \| Real Estate [Member] \| Discounted cash flow [Member] \| Exit Capitalization Rate [Member] \| Weighted Average [Member]
Schedule Of Consolidated Investment Products [Line Items]
Investments, measurement input	[1]	0.049	0.051

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

Consolidated Investment Produ_9

Consolidated Investment Products - Schedule of Financial Instruments of CIPs not Measured at Fair Value (Details) - USD ($) $ in Millions		Jun. 30, 2022	Sep. 30, 2021
Carrying Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents		$ 3,806.3	$ 4,357.8
Financial Liability [Abstract]
Debt of CLOs1		3,382.2	3,399.4
Carrying Value [Member] \| CIPs [Member]
Financial Assets [Abstract]
Cash and cash equivalents		372.9	144
Financial Liability [Abstract]
Other debt		99.7	36.9
Estimated Fair Value [Member] \| Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents		3,806.3	4,357.8
Estimated Fair Value [Member] \| Level 2 [Member]
Financial Liability [Abstract]
Debt of CLOs1		2,878.6	3,434.1
Estimated Fair Value [Member] \| CIPs [Member] \| Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents		372.9	144
Estimated Fair Value [Member] \| CIPs [Member] \| Level 3 [Member]
Financial Liability [Abstract]
Other debt		92.9	36.6
Receivables		1,414.8	1,428.2
Debt of CLOs1		3,382.2	3,399.4
CIPs [Member]
Financial Assets [Abstract]
Cash and cash equivalents		672.4	289.4
Receivables		178.8	127.8
Financial Liability [Abstract]
Debt of CLOs1		5,496.5	3,671
Other debt		99.7	36.9
Collateralized loan obligations [Member] \| Carrying Value [Member] \| CIPs [Member]
Financial Assets [Abstract]
Receivables		16.7	0
Financial Liability [Abstract]
Debt of CLOs1	[1]	5,396.8	3,634.1
Collateralized loan obligations [Member] \| Estimated Fair Value [Member] \| CIPs [Member] \| Level 2 [Member]
Financial Assets [Abstract]
Receivables		16.7	0
Financial Liability [Abstract]
Debt of CLOs1	[1]	5,437.8	3,610.6
Collateralized loan obligations [Member] \| CIPs [Member]
Financial Liability [Abstract]
Debt of CLOs1		$ 5,396.8	$ 3,634.1

[1]Substantially all was Level 2.

Consolidated Investment Prod_10

Consolidated Investment Products - Schedule of Debt of CIPs (Details) - USD ($) $ in Millions	Jun. 30, 2022	Sep. 30, 2021
Schedule Of Consolidated Investment Products [Line Items]
Debt	$ 3,382.2	$ 3,399.4
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Debt	5,496.5	3,671
Other debt	$ 99.7	$ 36.9
Effective interest rate	3.73%	1.95%
CIPs [Member] \| Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Stated interest rate	3.31%	1.63%
CIPs [Member] \| Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Stated interest rate	6%	2.42%
Collateralized loan obligations [Member] \| CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
Debt	$ 5,396.8	$ 3,634.1
Effective interest rate	2.03%	2.11%
Collateralized loan obligations [Member] \| CIPs [Member] \| Minimum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Stated interest rate	1%	1%
Collateralized loan obligations [Member] \| CIPs [Member] \| Maximum [Member]
Schedule Of Consolidated Investment Products [Line Items]
Stated interest rate	8.27%	8.22%

Consolidated Investment Prod_11

Consolidated Investment Products - Schedule of Contractual Maturities for Debt of CIPs (Details) - USD ($) $ in Millions	Jun. 30, 2022	Sep. 30, 2021
Schedule Of Consolidated Investment Products [Line Items]
Total	$ 3,382.2	$ 3,399.4
CIPs [Member]
Schedule Of Consolidated Investment Products [Line Items]
2022 (remainder of year)	99.4
2023	21.9
2024	84.2
2025	0
2026	0
Thereafter	5,291
Total	$ 5,496.5

Consolidated Investment Prod_12

Consolidated Investment Products - Schedule of Unpaid Principal Balance and Fair Value of Investments (Details) - USD ($) $ in Millions	Jun. 30, 2022	Sep. 30, 2021
Schedule Of Consolidated Investment Products [Line Items]
Unpaid principal balance	$ 1,658.5	$ 1,510.3
Total investments, at fair value	660.8	588.3
Collateralized loan obligations [Member]
Schedule Of Consolidated Investment Products [Line Items]
Unpaid principal balance	5,549.5	3,951.1
Difference between unpaid principal balance and fair value	(46.9)	20.9
Total investments, at fair value	$ 5,502.6	$ 3,972

Redeemable Noncontrolling Int_3

Redeemable Noncontrolling Interests (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2022	Jun. 30, 2021
Noncontrolling Interest [Line Items]
Balance at beginning of period			$ 933				$ 933
Net income (loss)	$ (0.5)			$ 33.7			(50.2)	$ 64.4
Net subscriptions (distributions) and other	(24.8)	$ (21.7)	(27.8)	87.9	$ 16.5	$ 93.3
Net consolidations	(0.3)	(39.6)		(487)	(31.6)
Adjustment to fair value of redeemable noncontrolling interests		(188.5)			(52.3)
Balance at End of Period	1,493.7						1,493.7
Minority Interests [Member]
Noncontrolling Interest [Line Items]
Balance at beginning of period	512.8		310.5	205.8		144.6	310.5	144.6
Net income (loss)	16			10.2			40.7	21.5
Net subscriptions (distributions) and other	(29.6)			(18.1)			(40.5)	(20.5)
Net consolidations	0			0			0	0
Adjustment to fair value of redeemable noncontrolling interests							188.5	52.3
Balance at End of Period	499.2	512.8		197.9	205.8		499.2	197.9
Redeemable Noncontrolling Interests [Member]
Noncontrolling Interest [Line Items]
Balance at beginning of period	1,138.1		933	815.7		541.9	933	541.9
Net income (loss)	(0.5)			33.7			(50.2)	64.4
Net subscriptions (distributions) and other	(24.2)			172			279.5	249.5
Net consolidations	380.3			31.3			142.9	144.6
Adjustment to fair value of redeemable noncontrolling interests							188.5	52.3
Balance at End of Period	1,493.7	1,138.1		1,052.7	815.7		1,493.7	1,052.7
CIPs [Member]
Noncontrolling Interest [Line Items]
Balance at beginning of period	625.3		$ 622.5	609.9		$ 397.3	622.5	397.3
Net income (loss)	(16.5)			23.5			(90.9)	42.9
Net subscriptions (distributions) and other	5.4			190.1			320	270
Net consolidations	380.3			31.3			142.9	144.6
Balance at End of Period	$ 994.5	$ 625.3		$ 854.8	$ 609.9		$ 994.5	$ 854.8

Nonconsolidated Variable Inte_3

Nonconsolidated Variable Interest Entities - Schedule of Maximum Exposure to Loss (Details) - Variable Interest Entity, Not Primary Beneficiary - USD ($) $ in Millions	Jun. 30, 2022	Sep. 30, 2021
Variable Interest Entity [Line Items]
Maximum exposure to loss	$ 904.6	$ 811.3
Investments [Member]
Variable Interest Entity [Line Items]
Maximum exposure to loss	728.7	639.2
Receivables [Member]
Variable Interest Entity [Line Items]
Maximum exposure to loss	$ 175.9	$ 172.1

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	Jun. 30, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Distribution to Unitholders of India Fixed Income Mutual Funds	$ 3,500

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ in Millions	9 Months Ended
	Jun. 30, 2022 USD ($)
Share-based Payment Arrangement, Noncash Expense [Abstract]
Unrecognized compensation expense related to nonvested stock and stock unit awards	$ 286.4
Remaining weighted-average vesting period	2 years

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock and Stock Unit Award Activity (Details) shares in Thousands	9 Months Ended
	Jun. 30, 2022 $ / shares shares
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, 2021	17,834
Granted	4,940
Vested	(1,989)
Forfeited/canceled	(623)
Nonvested Balance at June 30, 2022	20,162
Nonvested beginning balance, Weighted Average Grant Date Fair Value \| $ / shares	$ 22.27
Weighted Average Grant Date Fair Value of shares granted \| $ / shares	34.36
Weighted Average Grant Date Fair Value of shares vested \| $ / shares	25.43
Weighted Average Grant Date Fair Value of shares forfeited/canceled \| $ / shares	26.20
Nonvested ending balance, Weighted Average Grant Date Fair Value \| $ / shares	$ 24.48
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, 2021	14,176
Granted	4,713
Vested	(1,891)
Forfeited/canceled	(435)
Nonvested Balance at June 30, 2022	16,563
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, 2021	3,658
Granted	227
Vested	(98)
Forfeited/canceled	(188)
Nonvested Balance at June 30, 2022	3,599

Investment and Other Income, _3

Investment and Other Income, net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Other Income and Expenses [Abstract]
Net gains (losses) recognized on equity securities measured at fair value and trading debt securities	$ (50.3)	$ (0.2)	$ (79.1)	$ 27.2

Investment and Other Income , N

Investment and Other Income , Net - Schedule of Investment and Other Income, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Other Income and Expenses [Abstract]
Dividend and interest income	$ 6.3	$ 3.4	$ 17.5	$ 12.4
Gains (losses) on investments, net	(35.6)	17.3	(32.9)	76.2
Income (losses) from investments in equity method investees	(0.1)	39.4	51.6	123.8
Gains (losses) on derivatives, net	17.5	(9.1)	15.2	(25.2)
Rental income	9.6	7.2	27.9	22.7
Foreign currency exchange gains (losses), net	14.5	(7.2)	24.2	(17.2)
Other, net			(5.8)
Other, net	0.8	1.9		4.5
Investment and other income, net	$ 13	$ 52.9	$ 97.7	$ 197.2

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						9 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2022	Jun. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	$ (400.6)		$ (377.6)	$ (348.5)		$ (407.6)	$ (377.6)	$ (407.6)
Other comprehensive income (loss) before reclassifications, net of tax	(103.9)			21.3			(127.4)	79.5
Reclassifications to compensation and benefits expense, net of tax							(0.6)
Reclassifications to net investment and other income, net of tax	0.9			1.1			2	2
Other comprehensive income (loss)	(103)	$ (11)	(12)	22.4	$ (33.8)	92.9	(126)	81.5
Balance at end of period	(503.6)	(400.6)		(326.1)	(348.5)		(503.6)	(326.1)
Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(393.7)		(370.5)	(340.9)		(399.6)	(370.5)	(399.6)
Other comprehensive income (loss) before reclassifications, net of tax	(101.5)			21.5			(125.8)	79.3
Reclassifications to compensation and benefits expense, net of tax							0
Reclassifications to net investment and other income, net of tax	0.9			1.1			2	2
Other comprehensive income (loss)	(100.6)			22.6			(123.8)	81.3
Balance at end of period	(494.3)	(393.7)		(318.3)	(340.9)		(494.3)	(318.3)
Unrealized Losses on Defined Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(6.9)		$ (7.1)	(7.6)		$ (8)	(7.1)	(8)
Other comprehensive income (loss) before reclassifications, net of tax	(2.4)			(0.2)			(1.6)	0.2
Reclassifications to compensation and benefits expense, net of tax							(0.6)
Reclassifications to net investment and other income, net of tax	0			0			0	0
Other comprehensive income (loss)	(2.4)			(0.2)			(2.2)	0.2
Balance at end of period	$ (9.3)	$ (6.9)		$ (7.8)	$ (7.6)		$ (9.3)	$ (7.8)