Invesco Ltd. Files Q2 2024 10-Q Report
Ticker: IVZ · Form: 10-Q · Filed: Jul 31, 2024 · CIK: 914208
Sentiment: neutral
Topics: 10-Q, financials, investment-management
TL;DR
Invesco's Q2 10-Q is in: financials for investment advice & shareholder services detailed.
AI Summary
Invesco Ltd. filed its 10-Q for the period ending June 30, 2024. The filing covers the second quarter of 2024 and provides financial details for the company's investment advice and shareholder services. Specific financial figures for the quarter and year-to-date are detailed within the report.
Why It Matters
This filing provides investors and analysts with a detailed look at Invesco's financial performance and operational status for the second quarter of 2024, impacting investment decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.
Key Numbers
- 20240630 — Period End Date (Indicates the end of the reporting period for the 10-Q.)
- 20240731 — Filing Date (The date the report was officially submitted to the SEC.)
Key Players & Entities
- Invesco Ltd. (company) — Filer of the 10-Q report
- 0000914208-24-000335 (other) — Accession number for the filing
- 20240630 (date) — Conformed period of report
- 20240731 (date) — Filed as of date
- Atlanta, GA (location) — Company business and mailing address
FAQ
What were Invesco's total revenues for the second quarter of 2024?
The filing does not explicitly state total revenues for Q2 2024 in the provided snippet, but details financial activities related to investment advice and shareholder services.
What is the fiscal year end for Invesco Ltd.?
Invesco Ltd.'s fiscal year ends on December 31st.
What is the SEC file number for Invesco Ltd.?
The SEC file number for Invesco Ltd. is 001-13908.
When was Invesco Ltd. incorporated?
The state of incorporation for Invesco Ltd. is listed as D0, but a specific year is not provided in this snippet.
What are the primary business segments reported in this 10-Q?
The primary business segments reported are Investment Advice and Distribution & Shareholder Services.
Filing Stats: 4,932 words · 20 min read · ~16 pages · Grade level 6.2 · Accepted 2024-07-31 13:55:24
Key Financial Figures
- $0.20 — ange on which registered Common stock, $0.20 par value IVZ New York Stock Exchange
Filing Documents
- ivz-20240630.htm (10-Q) — 2696KB
- ivz2q2024ex101.htm (EX-10.1) — 143KB
- ivz2q2024ex311.htm (EX-31.1) — 9KB
- ivz2q2024ex312.htm (EX-31.2) — 9KB
- ivz2q2024ex321.htm (EX-32.1) — 5KB
- ivz2q2024ex322.htm (EX-32.2) — 5KB
- ivz-20240630_g1.jpg (GRAPHIC) — 7KB
- 0000914208-24-000335.txt ( ) — 8261KB
- ivz-20240630.xsd (EX-101.SCH) — 37KB
- ivz-20240630_cal.xml (EX-101.CAL) — 68KB
- ivz-20240630_def.xml (EX-101.DEF) — 177KB
- ivz-20240630_lab.xml (EX-101.LAB) — 543KB
- ivz-20240630_pre.xml (EX-101.PRE) — 363KB
- ivz-20240630_htm.xml (XML) — 1057KB
Financial Information
PART I. Financial Information
Financial Statements (unaudited)
Item 1. Financial Statements (unaudited) 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Income 2 Condensed Consolidated Statements of Comprehensive Income 3 Condensed Consolidated Statements of Cash Flows 4 Condensed Consolidated Statements of Changes in Equity 5 Notes to the Condensed Consolidated Financial Statements 7
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 17
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 47
Controls and Procedures
Item 4. Controls and Procedures 48
Other Information
PART II. Other Information
Legal Proceedings
Item 1. Legal Proceedings 49
Risk Factors
Item 1A. Risk Factors 49
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 49
Other Information
Item 5. Other Information 49
Exhibits
Item 6. Exhibits 50
Signatures
Signatures 51 Table of Contents GLOSSARY OF DEFINED TERMS APAC — Asia-Pacific AUM — Assets under management bps — Basis points CIP — Consolidated investment products CLOs — Collateralized loan obligations Covenant Adjusted EBITDA — A financial measure set forth in covenants in our credit agreement, which is defined to be earnings before income tax, depreciation, amortization, interest expense, common share-based compensation expense, unrealized (gains)/losses from investments, net, and unusual or otherwise non-recurring gains and losses EMEA — Europe, Middle East and Africa EPS — Earnings per common share ETFs — Exchange-traded funds IGW or Invesco Great Wall — Invesco Great Wall Fund Management Company Limited MassMutual — Massachusetts Mutual Life Insurance Company NAV — Net asset value Report — this Form 10-Q S&P — Standard & Poor's SEC — U.S. Securities and Exchange Commission the company — Invesco Ltd. and its consolidated entities the Parent — Invesco Ltd. TRS — Total return swap UITs — Unit Investment Trusts U.K. — United Kingdom U.S. — United States U.S. GAAP — Accounting principles generally accepted in the United States VIEs — Variable interest entities i Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements Invesco Ltd. Condensed Consolidated Balance Sheets (Unaudited) As of (in millions, except per share data) June 30, 2024 December 31, 2023 ASSETS Cash and cash equivalents $ 878.5 $ 1,469.2 Accounts receivable 677.1 701.5 Investments 980.0 919.1 Assets of consolidated investment products (CIP): Cash and cash equivalents of CIP 662.8 462.4 Accounts receivable and other assets of CIP 342.2 250.1 Investments of CIP 7,793.5 8,765.9 Assets held for policyholders — 393.9 Other assets 834.4 832.6 Property, equipment and software, net 574.4 599.5 Intangible assets, net 5,818.8 5,848.1 Goodwill 8,605.9 8,691.5 Total assets $ 27,167.6 $ 28,933.8 LIABILITIES Accrued compensation and benefits $ 589.7 $ 900.4 Accounts payable and accrued expenses 1,362.9 1,294.4 Liabilities of CIP: Debt of CIP 6,671.1 7,121.8 Other liabilities of CIP 531.8 492.1 Policyholder payables — 393.9 Debt 890.1 1,489.5 Deferred tax liabilities, net 1,356.6 1,325.7 Total liabilities 11,402.2 13,017.8 Commitments and contingencies (See Note 10) TEMPORARY EQUITY Redeemable noncontrolling interests in consolidated entities 568.9 745.7 PERMANENT EQUITY Equity attributable to Invesco Ltd.: Preferred shares ($ 0.20 par value; $ 1,000 liquidation preference; 4.0 million authorized, issued and outstanding as of June 30, 2024 and December 31, 2023) 4,010.5 4,010.5 Common shares ($ 0.20 par value; 1,050.0 million authorized; 566.1 million shares issued as of June 30, 2024 and December 31, 2023) 113.2 113.2 Additional paid-in-capital 7,316.3 7,451.6 Treasury shares ( 2,850.1 ) ( 3,002.6 ) Retained earnings 6,917.0 6,826.7 Accumulated other comprehensive income/(loss), net of tax ( 921.9 ) ( 801.8 ) Total equity attributable to Invesco Ltd. 14,585.0 14,597.6 Equity attributable to nonredeemable noncontrolling interests in consolidated entities 611.5 572.7 Total permanent equity 15,196.5 15,170.3 Total liabilities, temporary and permanent