Company Quick10K Filing
Franklin Resources
Price28.63 EPS2
Shares504 P/E12
MCap14,438 P/FCF72
Net Debt-5,261 EBIT1,862
TEV9,177 TEV/EBIT5
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-06-30 Filed 2020-07-28
10-Q 2020-03-31 Filed 2020-04-30
10-Q 2019-12-31 Filed 2020-01-30
10-K 2019-09-30 Filed 2019-11-12
10-Q 2019-06-30 Filed 2019-07-30
10-Q 2019-03-31 Filed 2019-04-26
10-Q 2018-12-31 Filed 2019-01-30
10-K 2018-09-30 Filed 2018-11-09
10-Q 2018-06-30 Filed 2018-07-27
10-Q 2018-03-31 Filed 2018-04-26
10-Q 2017-12-31 Filed 2018-01-30
10-K 2017-09-30 Filed 2017-11-13
10-Q 2017-06-30 Filed 2017-07-28
10-Q 2017-03-31 Filed 2017-04-28
10-Q 2016-12-31 Filed 2017-01-27
10-K 2016-09-30 Filed 2016-11-14
10-Q 2016-06-30 Filed 2016-07-28
10-Q 2016-03-31 Filed 2016-04-27
10-Q 2015-12-31 Filed 2016-02-03
10-K 2015-09-30 Filed 2015-11-12
10-Q 2015-06-30 Filed 2015-07-29
10-Q 2015-03-31 Filed 2015-04-29
10-Q 2014-12-31 Filed 2015-01-30
10-K 2014-09-30 Filed 2014-11-12
10-Q 2014-06-30 Filed 2014-07-30
10-Q 2014-03-31 Filed 2014-04-28
10-Q 2013-12-31 Filed 2014-01-30
10-K 2013-09-30 Filed 2013-11-12
10-Q 2013-06-30 Filed 2013-07-29
10-Q 2013-03-31 Filed 2013-04-30
10-Q 2012-12-31 Filed 2013-02-01
10-K 2012-09-30 Filed 2012-11-15
10-Q 2012-06-30 Filed 2012-07-30
10-Q 2012-03-31 Filed 2012-05-02
10-Q 2011-12-31 Filed 2012-02-01
10-K 2011-09-30 Filed 2011-11-15
10-Q 2011-06-30 Filed 2011-08-02
10-Q 2011-03-31 Filed 2011-05-03
10-Q 2010-12-31 Filed 2011-02-08
10-K 2010-09-30 Filed 2010-11-16
10-Q 2010-06-30 Filed 2010-08-05
10-Q 2010-03-31 Filed 2010-05-06
10-Q 2009-12-31 Filed 2010-02-08
8-K 2020-07-31 M&A, Other Events, Exhibits
8-K 2020-07-28 Earnings, Regulation FD, Exhibits
8-K 2020-07-17 Other Events, Exhibits
8-K 2020-04-30
8-K 2020-02-18
8-K 2020-02-17
8-K 2020-02-11
8-K 2020-01-30
8-K 2019-12-09
8-K 2019-11-20
8-K 2019-10-25
8-K 2019-07-30
8-K 2019-06-11
8-K 2019-04-26
8-K 2019-04-02
8-K 2019-03-12
8-K 2019-02-12
8-K 2019-01-30
8-K 2018-10-25
8-K 2018-10-24
8-K 2018-07-27
8-K 2018-04-26
8-K 2018-04-11
8-K 2018-02-14
8-K 2018-01-30

BEN 10Q Quarterly Report

Part I - Financial Information
Item 1. Financial Statements.
Note 1 - Significant Accounting Policies
Note 2 - New Accounting Guidance
Note 3 - Earnings per Share
Note 4 - Revenues
Note 5 - Investments
Note 6 - Fair Value Measurements
Note 7 - Consolidated Investment Products
Note 8 - Nonconsolidated Variable Interest Entities
Note 9 - Leases
Note 10 - Commitments and Contingencies
Note 11 - Stock - Based Compensation
Note 12 - Other Income (Expenses)
Note 13 - Accumulated Other Comprehensive Income (Loss)
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.
Item 3. Quantitative and Qualitative Disclosures About Market Risk.
Item 4. Controls and Procedures.
Part II - Other Information
Item 1. Legal Proceedings.
Item 1A. Risk Factors.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Item 6. Exhibits.
EX-31.1 exhibit311q3fy20.htm
EX-31.2 exhibit312q3fy20.htm
EX-32.1 exhibit321q3fy20.htm
EX-32.2 exhibit322q3fy20.htm

Franklin Resources Earnings 2020-06-30

Balance SheetIncome StatementCash Flow
2016128402012201420172020
Assets, Equity
2.21.61.10.5-0.0-0.62012201420172020
Rev, G Profit, Net Income
0.80.1-0.6-1.2-1.9-2.62012201420172020
Ops, Inv, Fin

Document
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(MARK ONE)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2020
or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from              to             
Commission File Number: 001-09318
FRANKLIN RESOURCES, INC.
(Exact name of registrant as specified in its charter)
Delaware
13-2670991
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)

One Franklin Parkway, San Mateo, CA 94403
(Address of principal executive offices) (Zip code)

(650) 312-2000
(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol(s)
Name of each exchange on which registered
Common Stock, par value $0.10 per share
BEN
New York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.      Yes      No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).      Yes      No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
 
Large Accelerated Filer
 
Accelerated Filer
 
Non-accelerated Filer
 
Smaller Reporting Company
 
 
 
 
Emerging Growth Company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act).    
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).   Yes      No
Number of shares of the registrant’s common stock outstanding at July 21, 2020: 495,356,614.




INDEX TO FORM 10-Q


2


PART I – FINANCIAL INFORMATION
Item 1. Financial Statements.
FRANKLIN RESOURCES, INC.
CONSOLIDATED STATEMENTS OF INCOME
Unaudited
 
 
Three Months Ended
June 30,
 
Nine Months Ended
June 30,
(in millions, except per share data)
 
2020
 
2019
 
2020
 
2019
Operating Revenues
 
 
 
 
 
 
 
 
Investment management fees
 
$
809.2

 
$
1,019.4

 
$
2,697.1

 
$
2,983.6

Sales and distribution fees
 
302.1

 
367.5

 
995.3

 
1,080.8

Shareholder servicing fees
 
44.6

 
52.7

 
149.4

 
164.9

Other
 
32.2

 
37.1

 
97.3

 
92.7

Total operating revenues
 
1,188.1

 
1,476.7

 
3,939.1

 
4,322.0

Operating Expenses
 
 
 
 
 
 
 
 
Sales, distribution and marketing
 
368.6

 
462.4

 
1,236.4

 
1,356.3

Compensation and benefits
 
386.5

 
437.7

 
1,141.6

 
1,202.3

Information systems and technology
 
62.1

 
65.7

 
186.4

 
188.7

Occupancy
 
31.5

 
32.2

 
100.4

 
94.8

General, administrative and other
 
85.7

 
103.8

 
271.8

 
314.0

Total operating expenses
 
934.4

 
1,101.8

 
2,936.6

 
3,156.1

Operating Income
 
253.7

 
374.9

 
1,002.5

 
1,165.9

Other Income (Expenses)
 
 
 
 
 
 
 
 
Investment and other income (losses), net
 
22.9

 
44.2

 
(166.5
)
 
103.8

Interest expense
 
(6.8
)
 
(5.6
)
 
(17.7
)
 
(17.7
)
Other income (expenses), net
 
16.1

 
38.6

 
(184.2
)
 
86.1

Income before taxes
 
269.8

 
413.5

 
818.3

 
1,252.0

Taxes on income
 
16.1

 
158.9

 
157.7

 
355.8

Net income
 
253.7


254.6

 
660.6

 
896.2

Less: net income (loss) attributable to
 
 
 
 
 
 
 
 
Redeemable noncontrolling interests
 
31.3

 
0.1

 
11.8

 
6.2

Nonredeemable noncontrolling interests
 
(68.0
)
 
8.6

 
(71.2
)
 
0.7

Net Income Attributable to Franklin Resources, Inc.
 
$
290.4

 
$
245.9

 
$
720.0

 
$
889.3

 
 
 
 
 
 
 
 
 
Earnings per Share
 
 
 
 
 
 
 
 
Basic
 
$
0.58

 
$
0.48

 
$
1.44

 
$
1.74

Diluted
 
0.58

 
0.48

 
1.44

 
1.74



See Notes to Consolidated Financial Statements.

3


FRANKLIN RESOURCES, INC.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Unaudited
(in millions)
 
Three Months Ended
June 30,
 
Nine Months Ended
June 30,
 
2020
 
2019
 
2020
 
2019
Net Income
 
$
253.7

 
$
254.6

 
$
660.6

 
$
896.2

Other Comprehensive Income (Loss)
 
 
 
 
 
 
 
 
Currency translation adjustments, net of tax
 
26.1

 
1.9

 
(18.4
)
 
(4.8
)
Net unrealized gains (losses) on defined benefit plans, net of tax
 

 
0.1

 
(0.2
)
 
(1.0
)
Net unrealized gains (losses) on investments, net of tax
 
(0.1
)
 
3.6

 
0.1

 
3.5

Total other comprehensive income (loss)
 
26.0

 
5.6

 
(18.5
)
 
(2.3
)
Total comprehensive income
 
279.7

 
260.2

 
642.1

 
893.9

Less: comprehensive income (loss) attributable to
 
 
 
 
 
 
 
 
Redeemable noncontrolling interests
 
31.3

 
0.1

 
11.8

 
6.2

Nonredeemable noncontrolling interests
 
(68.0
)
 
8.6

 
(71.2
)
 
0.7

Comprehensive Income Attributable to Franklin Resources, Inc.
 
$
316.4

 
$
251.5

 
$
701.5

 
$
887.0


See Notes to Consolidated Financial Statements.

4


FRANKLIN RESOURCES, INC.
CONSOLIDATED BALANCE SHEETS
Unaudited
(in millions, except share and per share data)
 
June 30,
2020
 
September 30,
2019
Assets
 
 
 
 
Cash and cash equivalents
 
$
6,358.7

 
$
5,803.4

Receivables
 
810.3

 
740.0

Investments (including $572.1 and $589.7 at fair value at June 30, 2020 and September 30, 2019)
 
1,135.0

 
1,555.8

Assets of consolidated investment products
 
 
 
 
Cash and cash equivalents
 
617.2

 
154.2

Receivables
 
117.5

 
99.0

Investments, at fair value
 
2,274.3

 
2,303.9

Property and equipment, net
 
705.2

 
683.7

Goodwill
 
2,190.7

 
2,130.3

Intangible assets, net
 
904.1

 
864.2

Operating lease right-of-use assets
 
258.5

 

Other
 
245.5

 
197.7

Total Assets
 
$
15,617.0

 
$
14,532.2

 
 
 
 
 
Liabilities
 
 
 
 
Compensation and benefits
 
$
439.8

 
$
502.4

Accounts payable and accrued expenses
 
187.3

 
222.9

Dividends
 
142.8

 
137.4

Commissions
 
212.0

 
254.0

Income taxes
 
747.3

 
824.7

Debt
 
697.2

 
696.9

Liabilities of consolidated investment products
 
 
 
 
Accounts payable and accrued expenses
 
154.6

 
81.5

Debt
 
685.6