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CONSOLIDATED STATEMENTS OF INCOME(in thousands, except per share data)for the fiscal years ended September 30, 2009 2008 2007Operating RevenuesInvestment management fees ............................ $2,503,188 $3,683,390 $3,573,845Underwriting and distribution fees ....................... 1,408,162 2,002,031 2,277,698Shareholder servicing fees .............................. 267,350 289,370 277,059Consolidated sponsored investment products income, net ..... 8,195 10,923 7,804Other, net ........................................... 7,192 46,672 69,363Total operating revenues ........................... 4,194,087 6,032,386 6,205,769Operating ExpensesUnderwriting and distribution ........................... 1,352,022 1,937,113 2,160,631Compensation and benefits ............................. 958,511 1,120,657 1,080,634Information systems, technology and occupancy ............ 274,198 320,986 317,938Advertising and promotion ............................. 116,129 184,309 189,382Amortization of deferred sales commissions ................ 142,978 178,004 158,114Other .............................................. 147,655 192,315 231,523Total operating expenses ........................... 2,991,493 3,933,384 4,138,222Operating Income ....................................... 1,202,594 2,099,002 2,067,547Other Income (Expenses)Consolidated sponsored investment products gains (losses),net .............................................. 21,706 (71,553) 57,670Investment and other income, net ........................ 60,563 224,898 363,304Interest expense ...................................... (3,771) (15,758) (23,220)Other income, net ................................. 78,498 137,587 397,754Income before taxes ................................... 1,281,092 2,236,589 2,465,301Taxes on income ..................................... 384,314 648,376 692,363Net Income ............................................. $ 896,778 $1,588,213 $1,772,938Earnings per ShareBasic .............................................. $ 3.89 $ 6.72 $ 7.11Diluted ............................................. $ 3.87 $ 6.67 $ 7.03Dividends per Share ..................................... $ 0.84 $ 0.80 $ 0.60See Notes to Consolidated Financial Statements.67