Our forward-looking statements are based on a series of expectations, assumptions and projections about the company and the markets in which we operate, are not guarantees of future results or performance, and involve substantial risks and uncertainty, including assumptions and projections concerning our assets under management, net asset inflows and outflows, operating cash flows, business plans and ability to borrow, for all future periods. All of our forward-looking statements are as of the date of this ...

Assets Under Management (AUM) - AUM decreased to $1675 billion from $1750 billion due to negative market performance and net outflows[12,14] - Average AUM decreased by 5% to $1736 billion[12] - Market performance led to a decrease of $41 billion in AUM[17] - Net outflows contributed to a decrease of $30 billion in AUM[17] Sales and Net Flows - Sales amounted to $62 billion, compared to $64 billion in the prior period[12] - Net flows were ($30) billion, attributed to U S retail funds, institutional accounts, and retail separate accounts[12,19] - Institutional sales were $15 billion, compared to $16 billion in the prior period[21] - Institutional net flows were ($12) billion, compared to ($38) billion in the prior period[21] Financial Performance - Operating income, as adjusted, was $546 million, including $100 million of seasonal expenses[12] - Operating margin, as adjusted, was 276%, or 327% excluding seasonal expenses[12] - Earnings per diluted share, as adjusted, were $573, including seasonal expenses of $101 per share, and increased 6% over the prior-year period[12] - Investment management fees, as adjusted, decreased by 7% due to lower average AUM and lower performance fees[25] Capital Activities - The company repurchased 111200 shares for $200 million and net settled 35178 shares for $61 million[12] - Net debt was $1000 million, or 03x EBITDA[12]