T. Rowe Price (TROW) 10-Q 24 Jul 09 2009 Q2 Quarterly report Financial data

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
In Millions	Jun. 30, 2009	Dec. 31, 2008
ASSETS
Cash and cash equivalents	667.4	619.1
Accounts receivable and accrued revenue	198	177.3
Investments in sponsored mutual funds	558.3	513.5
Debt securities held by savings bank subsidiary	182.7	166
Other investments	42.1	41.9
Property and equipment	474.3	440.1
Goodwill	665.7	665.7
Other assets	167.9	195.8
Total assets	2956.4	2819.4
Liabilities
Accounts payable and accrued expenses	81.1	86.8
Accrued compensation and related costs	105.8	60.7
Income taxes payable	20.6	25.3
Customer deposits at savings bank subsidiary	168.8	157.8
Total liabilities	376.3	330.6
Stockholders' equity
Preferred stock, undesignated, $.20 par value - authorized and unissued 20,000,000 shares	0	0
Common stock, $.20 par value - authorized 750,000,000; issued 256,856,000 shares in 2008 and 256,022,000 in 2009	51.2	51.4
Additional capital in excess of par value	395	363.7
Retained earnings	2083.6	2086.8
Accumulated other comprehensive income (loss)	50.3	-13.1
Total stockholders' equity	2580.1	2488.8
Total liabilities and stockholders' equity	2956.4	2819.4
Sponsored mutual funds in the U.S. [Member]
ASSETS
Accounts receivable and accrued revenue	106.5	95
Stock and blended asset funds [Member]
ASSETS
Investments in sponsored mutual funds	332.9	314.8
Bond funds [Member]
ASSETS
Investments in sponsored mutual funds	225.4	198.7

1_UNAUDITED CONDENSED CONSOLIDA

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)
	Jun. 30, 2009	Dec. 31, 2008
Unaudited Condensed Consolidated Balance Sheets (Parenthetical)
Preferred stock, par value per share	0.2	0.2
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Common stock, par value per share	0.2	0.2
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	256,022,000	256,856,000

2_UNAUDITED CONDENSED CONSOLIDA

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Millions, unless otherwise specified	3 Months Ended Jun. 30, 2009	3 Months Ended Jun. 30, 2008	6 Months Ended Jun. 30, 2009	6 Months Ended Jun. 30, 2008
Revenues
Investment advisory fees	360.3	495.3	667.1	965.4
Administrative fees	81.3	90.9	158.7	179.7
Investment income of savings bank subsidiary	1.9	1.5	3.4	3
Total revenues	443.5	587.7	829.2	1148.1
Interest expense on savings bank deposits	1.3	1.2	2.5	2.5
Net revenues	442.2	586.5	826.7	1145.6
Operating expenses
Compensation and related costs	199.7	218	375.1	425.4
Advertising and promotion	13.7	20.2	36.4	56.7
Depreciation and amortization of property and equipment	16.6	15.6	33.3	30.6
Occupancy and facility costs	24.4	24.9	49.8	50
Other operating expenses	33.9	49.2	67.6	94.2
Total operating expenses	288.3	327.9	562.2	656.9
Net operating income	153.9	258.6	264.5	488.7
Non-operating investment income (loss)	7.9	7.8	-28.1	22.1
Income before income taxes	161.8	266.4	236.4	510.8
Provision for income taxes	61.8	104.2	88.2	197.1
Net income	100	162.2	148.2	313.7
Earnings per share on common stock
Basic	0.39	0.62	0.58	1.2
Diluted	0.38	0.59	0.57	1.15
Dividends declared per share	0.25	0.24	0.5	0.48
Sponsored mutual funds in the U.S. [Member]
Revenues
Investment advisory fees	248.8	349.5	460.5	683.1
Stock and blended asset funds [Member]
Revenues
Investment advisory fees	195.3	296.8	357.3	579.2
Bond and money market funds [Member]
Revenues
Investment advisory fees	53.5	52.7	103.2	103.9
Other portfolios [Member]
Revenues
Investment advisory fees	111.5	145.8	206.6	282.3

3_UNAUDITED CONDENSED CONSOLIDA

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions	6 Months Ended Jun. 30, 2009	6 Months Ended Jun. 30, 2008
Cash flows from operating activities
Net income	148.2	313.7
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization of property and equipment	33.3	30.6
Stock-based compensation expense	44	39.3
Intangible asset amortization	0.2	0.3
Other than temporary impairments of investments in sponsored mutual funds	36.1	0.8
Other changes in assets and liabilities	8	68.5
Net cash provided by operating activities	269.8	453.2
Cash flows from investing activities
Investments in sponsored mutual funds	-24.2	-8.5
Dispositions of sponsored mutual funds	39.2	5
Investments in debt securities held by savings bank subsidiary	-40.2	-15.3
Proceeds from debt securities held by savings bank subsidiary	28.3	17.6
Additions to property and equipment	-65.3	-53.5
Other investing activity	-2.3	11.5
Net cash used in investing activities	-64.5	-43.2
Cash flows from financing activities
Repurchases of common stock	-58.9	-369.7
Common share issuances under stock-based compensation plans	10.1	9.5
Excess tax benefits from share-based compensation plans	8.8	36
Dividends	(128)	-188.4
Change in savings bank subsidiary deposits	11	-1.3
Net cash used in financing activities	(157)	-513.9
Cash and cash equivalents
Net change during period	48.3	-103.9
At beginning of year	619.1	785.1
At end of period	667.4	681.2

4_UNAUDITED CONDENSED CONSOLIDA

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (USD $)
In Millions, except Share data in Thousands	Additional capital in excess of par value [Member]	Retained earnings [Member]	Accumulated other comprehensive income (loss) [Member]	Common stock [Member]	Total
Balances at Dec. 31, 2008	363.7	2086.8	-13.1	51.4	2488.8
Balances (shares) at Dec. 31, 2008				256,856	256,856
Common stock-based compensation plans activity
Shares issued upon option exercises	9.9			0.2	10.1
Shares issued upon option exercises (shares)				1,072
Restricted shares issued	0			0	0
Restricted shares issued (shares)				129
Shares issued on vesting of restricted stock units	0			0	0
Shares issued on vesting of restricted stock units (shares)				4
Forfeiture of restricted awards	0			0	0
Forfeiture of restricted awards (shares)				(19)
Net tax benefits	8.5				8.5
Stock-based compensation expense	44				44
Common shares repurchased	-31.1	-23.4		-0.4	-54.9
Common shares repurchased (shares)				(2,020)
Comprehensive income
Net income		148.2			148.2
Net unrealized holding gains (including $52.8 million in the second quarter)			63.4
Dividends		(128)			(128)
Balances at Jun. 30, 2009	$395	2083.6	50.3	51.2	2580.1
Balances (shares) at Jun. 30, 2009				256,022	256,022

5_UNAUDITED CONDENSED CONSOLIDA

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY. (Parenthetical) (USD $)
In Millions	4/1/2009 - 6/30/2009
Unaudited Condensed Consolidated Statement of Stockholders' Equity (Parenthetical)
Net unrealized holding gains (including $52.8 million in the second quarter)	52.8

THE COMPANY AND BASIS OF PREPAR

THE COMPANY AND BASIS OF PREPARATION.
	6 Months Ended Jun. 30, 2009
The Company and Basis of Preparation
The Company and Basis of Preparation [Text Block]	NOTE 1 - THE COMPANY AND BASIS OF PREPARATION. T. Rowe Price Group derives its consolidated revenues and net income primarily from investment advisory services that its subsidiaries provide to individual and institutional investors in the sponsored T. Rowe Price mutual funds and other investment portfolios. We also provide our investment advisory clients with related administrative services, including mutual fund transfer agent, accounting and shareholder services; participant recordkeeping and transfer agent services for defined contribution retirement plans; discount brokerage; and trust services. Investment advisory revenues depend largely on the total value and composition of assets under our management. Accordingly, fluctuations in financial markets and in the composition of assets under management impact our revenues and results of operations. These unaudited condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States and reflect all adjustments that are, in the opinion of management, necessary to a fair statement of our results for the interim periods presented. All such adjustments are of a normal recurring nature. We evaluated all subsequent events through the time that we filed these financial statements in our Form 10-Q Report with the Securities and Exchange Commission on July 24, 2009. The unaudited interim financial information contained in these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements contained in our 2008 Annual Report. In the second quarter of 2009, we implemented new financial reporting guidance that changed the recognition guidance for other-than-temporary-impairments of debt securities and expanded our interim disclosures for all financial instruments. The adoption of the new recognition guidance did not have a material impact on our condensed consolidated financial statements. Appropriate interim disclosures are included in Notes 3, 4, and 5.

INFORMATION ABOUT RECEIVABLES,

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES.
	6 Months Ended Jun. 30, 2009
Segment, Continuing Operations [Member]
Information about Receivables, Revenues, and Services
Information about Receivables, Revenues, and Services [Text Block]	NOTE 2 - INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. Accounts receivable from our sponsored mutual funds for advisory fees and advisory-related administrative services aggregate $95.0 million at December 31, 2008, and $106.5 million at June 30, 2009. Revenues (in millions) from advisory services provided under agreements with our sponsored mutual funds and other investment clients include: Three months ended Six months ended 6/30/2008 6/30/2009 6/30/2008 6/30/2009 Sponsored mutual funds in the U.S. Stock and blended asset $ 296.8 $ 195.3 $ 579.2 $ 357.3 Bond and money market 52.7 53.5 103.9 103.2 349.5 248.8 683.1 460.5 Other portfolios 145.8 111.5 282.3 206.6 Total investment advisory fees $ 495.3 $ 360.3 $ 965.4 $ 667.1 The following table summarizes the various investment portfolios and assets under management (in billions) on which we earn advisory fees. Average during the second quarter Average during the first half 2008 2009 2008 2009 Sponsored mutual funds in the U.S. Stock and blended asset $ 194.4 $ 130.0 $ 189.5 $ 120.0 Bond and money market 48.2 49.6 47.4 48.5 242.6 179.6 236.9 168.5 Other portfolios 157.4 121.8 152.6 114.7 $ 400.0 $ 301.4 $ 389.5 $ 283.2 12/31/2008 6/30/2009 Sponsored mutual funds in the U.S. Stock and blended asset $ 117.9 $ 137.7 Bond and money market 46.5 51.3 164.4 189.0 Other portfolios 111.9 126.6 $ 276.3 $ 315.6 While investors that we serve are primarily domiciled in the United States of America, investment advisory clients outside the United States account for 10% of our assets under management at June 30, 2009. Fees for advisory-related administrative services provided to our sponsored mutual funds during the first half of the year were $144.5 million in 2008 and $125.8 million in 2009. Fees for these services during the second quarter were $72.5 million in 2008 and $64.1 million in 2009.
Investment advisory revenues table [Member]
Information about Receivables, Revenues, and Services
Information about Receivables, Revenues, and Services [Text Block]	Three months ended Six months ended 6/30/2008 6/30/2009 6/30/2008 6/30/2009 Sponsored mutual funds in the U.S. Stock and blended asset $ 296.8 $ 195.3 $ 579.2 $ 357.3 Bond and money market 52.7 53.5 103.9 103.2 349.5 248.8 683.1 460.5 Other portfolios 145.8 111.5 282.3 206.6 Total investment advisory fees $ 495.3 $ 360.3 $ 965.4 $ 667.1
Average assets under management table [Member]
Information about Receivables, Revenues, and Services
Information about Receivables, Revenues, and Services [Text Block]	Average during the second quarter Average during the first half 2008 2009 2008 2009 Sponsored mutual funds in the U.S. Stock and blended asset $ 194.4 $ 130.0 $ 189.5 $ 120.0 Bond and money market 48.2 49.6 47.4 48.5 242.6 179.6 236.9 168.5 Other portfolios 157.4 121.8 152.6 114.7 $ 400.0 $ 301.4 $ 389.5 $ 283.2
Period end assets under management table [Member]
Information about Receivables, Revenues, and Services
Information about Receivables, Revenues, and Services [Text Block]	12/31/2008 6/30/2009 Sponsored mutual funds in the U.S. Stock and blended asset $ 117.9 $ 137.7 Bond and money market 46.5 51.3 164.4 189.0 Other portfolios 111.9 126.6 $ 276.3 $ 315.6

INVESTMENTS IN SPONSORED MUTUAL

INVESTMENTS IN SPONSORED MUTUAL FUNDS.
	6 Months Ended Jun. 30, 2009
Investment in sponsored mutual funds [Member]
Investments in Sponsored Mutual Funds
Available for Sale Securities [Text Block]	NOTE 3 INVESTMENTS IN SPONSORED MUTUAL FUNDS. These investments (in millions) include: Aggregate Unrealized holding Aggregate cost Gains Losses fair value December 31, 2008 Stock and blended asset funds $ 345.7 $ 6.5 $ (37.4) $ 314.8 Bond funds 185.3 16.3 (2.9) 198.7 $ 531.0 $ 22.8 $ (40.3) $ 513.5 June 30, 2009 Stock and blended asset funds $ 281.7 $ 51.9 $ (.7) $ 332.9 Bond funds 199.9 25.5 - 225.4 $ 481.6 $ 77.4 $ (.7) $ 558.3 Unrealized holding losses that are temporary are attributable to fund holdings with an aggregate fair value of $195.2 million at December 31, 2008, and $24.8 million at June 30, 2009. All of the unrealized holding losses at June 30, 2009, were incurred in the second quarter of 2009.
Debt securities held by savings bank subsidary [Member]
Investments in Sponsored Mutual Funds
Available for Sale Securities [Text Block]	Fair Value Unrealized holding gains (losses) Investments with temporary impairment (50 securities) of Less than 12 months $ 15.4 $ (.5) 12 months or more 12.7 (1.6) Total 28.1 (2.1) Investments with unrealized holding gains 154.6 3.2 $ 182.7 $ 1.1 Aggregate cost $ 181.6
Table [Member]
Investments in Sponsored Mutual Funds
Available for Sale Securities [Text Block]	Aggregate Unrealized holding Aggregate cost Gains Losses fair value December 31, 2008 Stock and blended asset funds $ 345.7 $ 6.5 $ (37.4) $ 314.8 Bond funds 185.3 16.3 (2.9) 198.7 $ 531.0 $ 22.8 $ (40.3) $ 513.5 June 30, 2009 Stock and blended asset funds $ 281.7 $ 51.9 $ (.7) $ 332.9 Bond funds 199.9 25.5 - 225.4 $ 481.6 $ 77.4 $ (.7) $ 558.3

DEBT SECURITIES HELD BY AND CUS

DEBT SECURITIES HELD BY AND CUSTOMER DEPOSITS AT SAVINGS BANK SUBSIDIARY.
	6 Months Ended Jun. 30, 2009
Debt Securities Held By and Customer Deposits at Savings Bank Subsidiary
Debt Securities Held by and Customer Deposits at Savings Bank Subsidiary [Text Block]	NOTE 4 DEBT SECURITIES HELD BY AND CUSTOMER DEPOSITS AT SAVINGS BANK SUBSIDIARY. Our savings bank subsidiary holds investments in marketable debt securities, including mortgage- and other asset-backed securities, which are accounted for as available-for-sale. The following table (in millions) details the components of these investments at June 30, 2009. Fair Value Unrealized holding gains (losses) Investments with temporary impairment (50 securities) of Less than 12 months $ 15.4 $ (.5) 12 months or more 12.7 (1.6) Total 28.1 (2.1) Investments with unrealized holding gains 154.6 3.2 $ 182.7 $ 1.1 Aggregate cost $ 181.6 The unrealized losses in these investments were generally caused by changes in interest rates and market liquidity, and not by changes in credit quality. We intend to hold these securities to their maturities, which generally correlate to the maturities of our customer deposits, and believe it is more-likely-than not that we will not be required to sell any of these securities before recovery of their amortized cost. Accordingly, impairment of these investments is considered temporary. The estimated fair value of our customer deposit liability, based on discounting expected cash outflows at maturity dates that range up to five years, using current interest rates offered for deposits with the same dates of maturity, was $172.9 million at June 30, 2009.

OTHER INVESTMENTS.

OTHER INVESTMENTS.
	Jun. 30, 2009
Other Investments
Other Investments [Text Block]	NOTE 5 OTHER INVESTMENTS. These investments (in millions) at June 30, 2009 include: Cost method investments $ 40.3 Sponsored mutual fund investments held as trading 1.5 Equity method investments .3 $ 42.1
Table [Member]
Other Investments
Other Investments [Text Block]	Cost method investments $ 40.3 Sponsored mutual fund investments held as trading 1.5 Equity method investments .3 $ 42.1

FAIR VALUE MEASUREMENTS.

FAIR VALUE MEASUREMENTS.
	6 Months Ended Jun. 30, 2009
Fair Value Measurements (FairValueMeasurements)
Fair Value Measurements [Text Block]	NOTE 6 FAIR VALUE MEASUREMENTS. We determine the fair value of our investments using broad levels of inputs as defined by related accounting standards: Level 1 quoted prices in active markets for identical securities. Level 2 observable inputs other than Level 1 quoted prices including, but not limited to, quoted prices for similar securities, interest rates, prepayment speeds, and credit risk. These inputs are based on market data obtained from independent sources. Level 3 unobservable inputs reflecting our own assumptions based on the best information available. We do not value any investments using level 3 inputs. These levels are not necessarily an indication of the risk or liquidity associated with the investments. The following table summarizes our investments (in millions) at June 30, 2009, that are recognized in our balance sheet using fair value measurements determined based on the differing levels of inputs. Level 1 Level 2 Cash equivalents $ 593.1 Investments in sponsored mutual funds Held as available-for-sale 558.3 Held as trading 1.5 Debt securities held by savings bank subsidiary - $ 182.7 Total $ 1,152.9 $ 182.7

STOCK-BASED COMPENSATION.

STOCK-BASED COMPENSATION.
	6 Months Ended Jun. 30, 2009
Stock-Based Compensation
Stock-Based Compensation [Text Block]	NOTE 7 STOCK-BASED COMPENSATION. Stock-based grants. In February 2009, our executive compensation committee of the board of directors reviewed our equity grant program for associates. The annual grant was bifurcated to achieve the retention and other objectives of the program and align the interests of our associates with those of our common stockholders. The following table summarizes the status of and changes in our stock option grants during the first half of 2009. Weighted- average exercise Options price Outstanding at beginning of 2009 39,037,741 $36.52 Semiannual grants 3,133,170 $27.48 Reload grants 241,638 $39.75 New hire grants 7,000 $36.40 Exercised (1,547,784) $18.69 Forfeited or expired (753,174) $43.26 Outstanding at June 30, 2009 40,118,591 $36.39 Exercisable at June 30, 2009 21,875,361 $29.75 The following table summarizes the status of and changes in our nonvested restricted shares and restricted stock units during the first half of 2009. Restricted Weighted-average Restricted stock grant-date Shares units fair value Nonvested at beginning of 2009 475,194 233,539 $54.28 Granted to employees and directors 129,950 83,700 $27.95 Vested (5,525) (7,850) $55.13 Forfeited (18,413) (8,500) $49.79 Nonvested at June 30, 2009 581,206 300,889 $48.03 Future stock-based compensation expense. The following table presents the compensation expense (in millions) to be recognized over the remaining vesting periods of the stock-based awards outstanding at June 30, 2009. Estimated future compensation expense will change to reflect future option grants, including reloads; future awards of unrestricted shares, restricted shares, and restricted stock units; changes in estimated forfeitures; and adjustments for actual forfeitures. Third quarter 2009 $ 20.7 Fourth quarter 2009 15.5 2010 47.9 2011 through 2014 42.4 Total $ 126.5
Stock option rollforward table [Member]
Stock-Based Compensation
Stock-Based Compensation [Text Block]	Weighted- average exercise Options price Outstanding at beginning of 2009 39,037,741 $36.52 Semiannual grants 3,133,170 $27.48 Reload grants 241,638 $39.75 New hire grants 7,000 $36.40 Exercised (1,547,784) $18.69 Forfeited or expired (753,174) $43.26 Outstanding at June 30, 2009 40,118,591 $36.39 Exercisable at June 30, 2009 21,875,361 $29.75
Restricted shares and restricted stock units rollforward table [Member]
Stock-Based Compensation
Stock-Based Compensation [Text Block]	Restricted Weighted-average Restricted stock grant-date Shares units fair value Nonvested at beginning of 2009 475,194 233,539 $54.28 Granted to employees and directors 129,950 83,700 $27.95 Vested (5,525) (7,850) $55.13 Forfeited (18,413) (8,500) $49.79 Nonvested at June 30, 2009 581,206 300,889 $48.03
Future stock-based compensation expense table [Member]
Stock-Based Compensation
Stock-Based Compensation [Text Block]	Third quarter 2009 $ 20.7 Fourth quarter 2009 15.5 2010 47.9 2011 through 2014 42.4 Total $ 126.5

INVESTMENT GAINS (LOSSES) AND A

INVESTMENT GAINS (LOSSES) AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS).
	6 Months Ended Jun. 30, 2009
Investment gains (losses) and accumulated other comprehensive income (loss)
Investment Gains (Losses) and Accumulated Other Comprehensive Income (Loss) [Text Block]	NOTE 8 INVESTMENT GAINS (LOSSES) AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS). The following table reconciles our net unrealized holding gains (in millions) for the first half of 2009 to that recognized in other comprehensive income. Investments in sponsored mutual funds Debt securities held by savings bank subsidiary Total Net unrealized holding gains $ 59.8 $ 3.9 $ 63.7 Reconciling amounts recognized in non-operating investment income (loss) Other than temporary impairments 36.1 - 36.1 Net losses (gains) realized on dispositions (1.7) .3 (1.4) Net unrealized holding gains recognized in other comprehensive income 94.2 4.2 98.4 Deferred income taxes (33.5) (1.5) (35.0) Net unrealized holding gains recognized in other comprehensive income $ 60.7 $ 2.7 $ 63.4 The components of accumulated other comprehensive income (in millions) at June 30, 2009, are presented below. Net unrealized holding gains on Investments in sponsored mutual funds $ 76.7 Debt securities held by savings bank subsidiary 1.1 77.8 Deferred income tax liabilities (27.5) $ 50.3

EARNINGS PER SHARE.

EARNINGS PER SHARE.
	6 Months Ended Jun. 30, 2009
Earnings Per Share
Earnings Per Share [Text Block]	NOTE 9 EARNINGS PER SHARE. Effective January 1, 2009, new financial reporting guidance modified our earnings per share calculations to recognize our outstanding restricted stock and stock units, on which we pay non-forfeitable dividends, as if they were a separate class of stock. The new guidance does not materially change our basic and dilutive earnings per share on our common stock; however, the retrospective application did reduce dilutive earnings per share for the second quarter and the full year 2008 by $0.01 from those amounts that we previously reported. The weighted average shares (in millions) now used in calculating basic and dilutive earnings per share on our common stock follow. Three months ended Six months ended 6/30/2008 6/30/2009 6/30/2008 6/30/2009 Weighted average shares Outstanding 259.6 255.2 260.7 255.3 Outstanding assuming dilution 272.2 261.7 272.8 260.2
Table [Member]
Earnings Per Share
Earnings Per Share [Text Block]	Three months ended Six months ended 6/30/2008 6/30/2009 6/30/2008 6/30/2009 Weighted average shares Outstanding 259.6 255.2 260.7 255.3 Outstanding assuming dilution 272.2 261.7 272.8 260.2

6_INFORMATION ABOUT RECEIVABLES

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Tables)
	6 Months Ended Jun. 30, 2009
Segment, Continuing Operations [Member]
Information about Receivables, Revenues, and Services (Tables)
Information about Receivables, Revenues, and Services [Text Block]	NOTE 2 - INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. Accounts receivable from our sponsored mutual funds for advisory fees and advisory-related administrative services aggregate $95.0 million at December 31, 2008, and $106.5 million at June 30, 2009. Revenues (in millions) from advisory services provided under agreements with our sponsored mutual funds and other investment clients include: Three months ended Six months ended 6/30/2008 6/30/2009 6/30/2008 6/30/2009 Sponsored mutual funds in the U.S. Stock and blended asset $ 296.8 $ 195.3 $ 579.2 $ 357.3 Bond and money market 52.7 53.5 103.9 103.2 349.5 248.8 683.1 460.5 Other portfolios 145.8 111.5 282.3 206.6 Total investment advisory fees $ 495.3 $ 360.3 $ 965.4 $ 667.1 The following table summarizes the various investment portfolios and assets under management (in billions) on which we earn advisory fees. Average during the second quarter Average during the first half 2008 2009 2008 2009 Sponsored mutual funds in the U.S. Stock and blended asset $ 194.4 $ 130.0 $ 189.5 $ 120.0 Bond and money market 48.2 49.6 47.4 48.5 242.6 179.6 236.9 168.5 Other portfolios 157.4 121.8 152.6 114.7 $ 400.0 $ 301.4 $ 389.5 $ 283.2 12/31/2008 6/30/2009 Sponsored mutual funds in the U.S. Stock and blended asset $ 117.9 $ 137.7 Bond and money market 46.5 51.3 164.4 189.0 Other portfolios 111.9 126.6 $ 276.3 $ 315.6 While investors that we serve are primarily domiciled in the United States of America, investment advisory clients outside the United States account for 10% of our assets under management at June 30, 2009. Fees for advisory-related administrative services provided to our sponsored mutual funds during the first half of the year were $144.5 million in 2008 and $125.8 million in 2009. Fees for these services during the second quarter were $72.5 million in 2008 and $64.1 million in 2009.
Investment advisory revenues table [Member]
Information about Receivables, Revenues, and Services (Tables)
Information about Receivables, Revenues, and Services [Text Block]	Three months ended Six months ended 6/30/2008 6/30/2009 6/30/2008 6/30/2009 Sponsored mutual funds in the U.S. Stock and blended asset $ 296.8 $ 195.3 $ 579.2 $ 357.3 Bond and money market 52.7 53.5 103.9 103.2 349.5 248.8 683.1 460.5 Other portfolios 145.8 111.5 282.3 206.6 Total investment advisory fees $ 495.3 $ 360.3 $ 965.4 $ 667.1
Average assets under management table [Member]
Information about Receivables, Revenues, and Services (Tables)
Information about Receivables, Revenues, and Services [Text Block]	Average during the second quarter Average during the first half 2008 2009 2008 2009 Sponsored mutual funds in the U.S. Stock and blended asset $ 194.4 $ 130.0 $ 189.5 $ 120.0 Bond and money market 48.2 49.6 47.4 48.5 242.6 179.6 236.9 168.5 Other portfolios 157.4 121.8 152.6 114.7 $ 400.0 $ 301.4 $ 389.5 $ 283.2
Period end assets under management table [Member]
Information about Receivables, Revenues, and Services (Tables)
Information about Receivables, Revenues, and Services [Text Block]	12/31/2008 6/30/2009 Sponsored mutual funds in the U.S. Stock and blended asset $ 117.9 $ 137.7 Bond and money market 46.5 51.3 164.4 189.0 Other portfolios 111.9 126.6 $ 276.3 $ 315.6

7_INVESTMENTS IN SPONSORED MUTU

INVESTMENTS IN SPONSORED MUTUAL FUNDS. (Tables)
	6 Months Ended Jun. 30, 2009
Investment in sponsored mutual funds [Member]
Investments in Sponsored Mutual Funds (Tables)
Available for Sale Securities [Text Block]	NOTE 3 INVESTMENTS IN SPONSORED MUTUAL FUNDS. These investments (in millions) include: Aggregate Unrealized holding Aggregate cost Gains Losses fair value December 31, 2008 Stock and blended asset funds $ 345.7 $ 6.5 $ (37.4) $ 314.8 Bond funds 185.3 16.3 (2.9) 198.7 $ 531.0 $ 22.8 $ (40.3) $ 513.5 June 30, 2009 Stock and blended asset funds $ 281.7 $ 51.9 $ (.7) $ 332.9 Bond funds 199.9 25.5 - 225.4 $ 481.6 $ 77.4 $ (.7) $ 558.3 Unrealized holding losses that are temporary are attributable to fund holdings with an aggregate fair value of $195.2 million at December 31, 2008, and $24.8 million at June 30, 2009. All of the unrealized holding losses at June 30, 2009, were incurred in the second quarter of 2009.
Debt securities held by savings bank subsidary [Member]
Investments in Sponsored Mutual Funds (Tables)
Available for Sale Securities [Text Block]	Fair Value Unrealized holding gains (losses) Investments with temporary impairment (50 securities) of Less than 12 months $ 15.4 $ (.5) 12 months or more 12.7 (1.6) Total 28.1 (2.1) Investments with unrealized holding gains 154.6 3.2 $ 182.7 $ 1.1 Aggregate cost $ 181.6
Table [Member]
Investments in Sponsored Mutual Funds (Tables)
Available for Sale Securities [Text Block]	Aggregate Unrealized holding Aggregate cost Gains Losses fair value December 31, 2008 Stock and blended asset funds $ 345.7 $ 6.5 $ (37.4) $ 314.8 Bond funds 185.3 16.3 (2.9) 198.7 $ 531.0 $ 22.8 $ (40.3) $ 513.5 June 30, 2009 Stock and blended asset funds $ 281.7 $ 51.9 $ (.7) $ 332.9 Bond funds 199.9 25.5 - 225.4 $ 481.6 $ 77.4 $ (.7) $ 558.3

8_DEBT SECURITIES HELD BY AND C

DEBT SECURITIES HELD BY AND CUSTOMER DEPOSITS AT SAVINGS BANK SUBSIDIARY. (Tables)
	6 Months Ended Jun. 30, 2009
Investment in sponsored mutual funds [Member]
Debt Securities Held By and Customer Deposits at Savings Bank Subsidiary (Tables)
Available for Sale Securities [Text Block]	NOTE 3 INVESTMENTS IN SPONSORED MUTUAL FUNDS. These investments (in millions) include: Aggregate Unrealized holding Aggregate cost Gains Losses fair value December 31, 2008 Stock and blended asset funds $ 345.7 $ 6.5 $ (37.4) $ 314.8 Bond funds 185.3 16.3 (2.9) 198.7 $ 531.0 $ 22.8 $ (40.3) $ 513.5 June 30, 2009 Stock and blended asset funds $ 281.7 $ 51.9 $ (.7) $ 332.9 Bond funds 199.9 25.5 - 225.4 $ 481.6 $ 77.4 $ (.7) $ 558.3 Unrealized holding losses that are temporary are attributable to fund holdings with an aggregate fair value of $195.2 million at December 31, 2008, and $24.8 million at June 30, 2009. All of the unrealized holding losses at June 30, 2009, were incurred in the second quarter of 2009.
Debt securities held by savings bank subsidary [Member]
Debt Securities Held By and Customer Deposits at Savings Bank Subsidiary (Tables)
Available for Sale Securities [Text Block]	Fair Value Unrealized holding gains (losses) Investments with temporary impairment (50 securities) of Less than 12 months $ 15.4 $ (.5) 12 months or more 12.7 (1.6) Total 28.1 (2.1) Investments with unrealized holding gains 154.6 3.2 $ 182.7 $ 1.1 Aggregate cost $ 181.6
Table [Member]
Debt Securities Held By and Customer Deposits at Savings Bank Subsidiary (Tables)
Available for Sale Securities [Text Block]	Aggregate Unrealized holding Aggregate cost Gains Losses fair value December 31, 2008 Stock and blended asset funds $ 345.7 $ 6.5 $ (37.4) $ 314.8 Bond funds 185.3 16.3 (2.9) 198.7 $ 531.0 $ 22.8 $ (40.3) $ 513.5 June 30, 2009 Stock and blended asset funds $ 281.7 $ 51.9 $ (.7) $ 332.9 Bond funds 199.9 25.5 - 225.4 $ 481.6 $ 77.4 $ (.7) $ 558.3

9_OTHER INVESTMENTS.

OTHER INVESTMENTS. (Tables)
	Jun. 30, 2009
Other Investments (Tables)
Other Investments [Text Block]	NOTE 5 OTHER INVESTMENTS. These investments (in millions) at June 30, 2009 include: Cost method investments $ 40.3 Sponsored mutual fund investments held as trading 1.5 Equity method investments .3 $ 42.1
Table [Member]
Other Investments (Tables)
Other Investments [Text Block]	Cost method investments $ 40.3 Sponsored mutual fund investments held as trading 1.5 Equity method investments .3 $ 42.1

10_FAIR VALUE MEASUREMENTS.

FAIR VALUE MEASUREMENTS. (Tables)
	6 Months Ended Jun. 30, 2009
Fair Value Measurements (Tables)
Fair Value Measurements Table [Text Block]	Level 1 Level 2 Cash equivalents $ 593.1 Investments in sponsored mutual funds Held as available-for-sale 558.3 Held as trading 1.5 Debt securities held by savings bank subsidiary - $ 182.7 Total $ 1,152.9 $ 182.7

11_STOCK-BASED COMPENSATION.

STOCK-BASED COMPENSATION. (Tables)
	6 Months Ended Jun. 30, 2009
Stock-Based Compensation (Tables)
Stock-Based Compensation [Text Block]	NOTE 7 STOCK-BASED COMPENSATION. Stock-based grants. In February 2009, our executive compensation committee of the board of directors reviewed our equity grant program for associates. The annual grant was bifurcated to achieve the retention and other objectives of the program and align the interests of our associates with those of our common stockholders. The following table summarizes the status of and changes in our stock option grants during the first half of 2009. Weighted- average exercise Options price Outstanding at beginning of 2009 39,037,741 $36.52 Semiannual grants 3,133,170 $27.48 Reload grants 241,638 $39.75 New hire grants 7,000 $36.40 Exercised (1,547,784) $18.69 Forfeited or expired (753,174) $43.26 Outstanding at June 30, 2009 40,118,591 $36.39 Exercisable at June 30, 2009 21,875,361 $29.75 The following table summarizes the status of and changes in our nonvested restricted shares and restricted stock units during the first half of 2009. Restricted Weighted-average Restricted stock grant-date Shares units fair value Nonvested at beginning of 2009 475,194 233,539 $54.28 Granted to employees and directors 129,950 83,700 $27.95 Vested (5,525) (7,850) $55.13 Forfeited (18,413) (8,500) $49.79 Nonvested at June 30, 2009 581,206 300,889 $48.03 Future stock-based compensation expense. The following table presents the compensation expense (in millions) to be recognized over the remaining vesting periods of the stock-based awards outstanding at June 30, 2009. Estimated future compensation expense will change to reflect future option grants, including reloads; future awards of unrestricted shares, restricted shares, and restricted stock units; changes in estimated forfeitures; and adjustments for actual forfeitures. Third quarter 2009 $ 20.7 Fourth quarter 2009 15.5 2010 47.9 2011 through 2014 42.4 Total $ 126.5
Stock option rollforward table [Member]
Stock-Based Compensation (Tables)
Stock-Based Compensation [Text Block]	Weighted- average exercise Options price Outstanding at beginning of 2009 39,037,741 $36.52 Semiannual grants 3,133,170 $27.48 Reload grants 241,638 $39.75 New hire grants 7,000 $36.40 Exercised (1,547,784) $18.69 Forfeited or expired (753,174) $43.26 Outstanding at June 30, 2009 40,118,591 $36.39 Exercisable at June 30, 2009 21,875,361 $29.75
Restricted shares and restricted stock units rollforward table [Member]
Stock-Based Compensation (Tables)
Stock-Based Compensation [Text Block]	Restricted Weighted-average Restricted stock grant-date Shares units fair value Nonvested at beginning of 2009 475,194 233,539 $54.28 Granted to employees and directors 129,950 83,700 $27.95 Vested (5,525) (7,850) $55.13 Forfeited (18,413) (8,500) $49.79 Nonvested at June 30, 2009 581,206 300,889 $48.03
Future stock-based compensation expense table [Member]
Stock-Based Compensation (Tables)
Stock-Based Compensation [Text Block]	Third quarter 2009 $ 20.7 Fourth quarter 2009 15.5 2010 47.9 2011 through 2014 42.4 Total $ 126.5

12_EARNINGS PER SHARE.

EARNINGS PER SHARE. (Tables)
	6 Months Ended Jun. 30, 2009
Earnings Per Share (Tables)
Earnings Per Share [Text Block]	NOTE 9 EARNINGS PER SHARE. Effective January 1, 2009, new financial reporting guidance modified our earnings per share calculations to recognize our outstanding restricted stock and stock units, on which we pay non-forfeitable dividends, as if they were a separate class of stock. The new guidance does not materially change our basic and dilutive earnings per share on our common stock; however, the retrospective application did reduce dilutive earnings per share for the second quarter and the full year 2008 by $0.01 from those amounts that we previously reported. The weighted average shares (in millions) now used in calculating basic and dilutive earnings per share on our common stock follow. Three months ended Six months ended 6/30/2008 6/30/2009 6/30/2008 6/30/2009 Weighted average shares Outstanding 259.6 255.2 260.7 255.3 Outstanding assuming dilution 272.2 261.7 272.8 260.2
Table [Member]
Earnings Per Share (Tables)
Earnings Per Share [Text Block]	Three months ended Six months ended 6/30/2008 6/30/2009 6/30/2008 6/30/2009 Weighted average shares Outstanding 259.6 255.2 260.7 255.3 Outstanding assuming dilution 272.2 261.7 272.8 260.2

13_THE COMPANY AND BASIS OF PRE

THE COMPANY AND BASIS OF PREPARATION. (Detail)
	6 Months Ended Jun. 30, 2009
The Company and Basis of Preparation (Detail)
Nature of operations [Text Block]	T. Rowe Price Group derives its consolidated revenues and net income primarily from investment advisory services that its subsidiaries provide to individual and institutional investors in the sponsored T. Rowe Price mutual funds and other investment portfolios. We also provide our investment advisory clients with related administrative services, including mutual fund transfer agent, accounting and shareholder services; participant recordkeeping and transfer agent services for defined contribution retirement plans; discount brokerage; and trust services. Investment advisory revenues depend largely on the total value and composition of assets under our management. Accordingly, fluctuations in financial markets and in the composition of assets under management impact our revenues and results of operations.
Basis of accounting	These unaudited condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States and reflect all adjustments that are, in the opinion of management, necessary to a fair statement of our results for the interim periods presented. All such adjustments are of a normal recurring nature. We evaluated all subsequent events through the time that we filed these financial statements in our Form 10-Q Report with the Securities and Exchange Commission on July 24, 2009. The unaudited interim financial information contained in these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements contained in our 2008 Annual Report.
Implementation of new financial reporting guidance [Text Block]	In the second quarter of 2009, we implemented new financial reporting guidance that changed the recognition guidance for other-than-temporary-impairments of debt securities and expanded our interim disclosures for all financial instruments. The adoption of the new recognition guidance did not have a material impact on our condensed consolidated financial statements. Appropriate interim disclosures are included in Notes 3, 4, and 5.

14_INFORMATION ABOUT RECEIVABLE

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Detail) (USD $)
In Millions	3 Months Ended Jun. 30, 2009	3 Months Ended Jun. 30, 2008	6 Months Ended Jun. 30, 2009	6 Months Ended Jun. 30, 2008	Dec. 31, 2008
Information about Receivables, Revenues, and Services (Detail)
Accounts receivable and accrued revenue			$198		177.3
Investment advisory fees	360.3	495.3	667.1	965.4
Average assets under management	301,400	400,000	283,200	389,500
Period end assets under management			315,600		276,300
Concentration risk, additional characteristic			investment advisory clients outside the United States
Concentration risk percentage			0.1
Concentration risk, benchmark description			assets under management at June 30, 2009.
Sponsored mutual funds in the U.S. [Member]
Information about Receivables, Revenues, and Services (Detail)
Accounts receivable and accrued revenue			106.5		95
Investment advisory fees	248.8	349.5	460.5	683.1
Average assets under management	179,600	242,600	168,500	236,900
Period end assets under management			189,000		164,400
Fees for advisory-related admnistrative services	64.1	72.5	125.8	144.5
Stock and blended asset funds [Member]
Information about Receivables, Revenues, and Services (Detail)
Investment advisory fees	195.3	296.8	357.3	579.2
Average assets under management	130,000	194,400	120,000	189,500
Period end assets under management			137,700		117,900
Bond and money market funds [Member]
Information about Receivables, Revenues, and Services (Detail)
Investment advisory fees	53.5	52.7	103.2	103.9
Average assets under management	49,600	48,200	48,500	47,400
Period end assets under management			51,300		46,500
Other portfolios [Member]
Information about Receivables, Revenues, and Services (Detail)
Investment advisory fees	111.5	145.8	206.6	282.3
Average assets under management	121,800	157,400	114,700	152,600
Period end assets under management			$126,600		$111,900

15_INVESTMENTS IN SPONSORED MUT

INVESTMENTS IN SPONSORED MUTUAL FUNDS. (Detail) (USD $)
In Millions	Jun. 30, 2009	Dec. 31, 2008
Investments in Sponsored Mutual Funds (Detail)
Investments in sponsored mutual funds	558.3	513.5
Stock and blended asset funds [Member]
Investments in Sponsored Mutual Funds (Detail)
Aggregate cost	281.7	345.7
Unrealized holding gains	51.9	6.5
Unrealized holding losses	-0.7	-37.4
Investments in sponsored mutual funds	332.9	314.8
Bond funds [Member]
Investments in Sponsored Mutual Funds (Detail)
Aggregate cost	199.9	185.3
Unrealized holding gains	25.5	16.3
Unrealized holding losses	0	-2.9
Investments in sponsored mutual funds	225.4	198.7
Investment in sponsored mutual funds [Member]
Investments in Sponsored Mutual Funds (Detail)
Aggregate cost	481.6	531
Unrealized holding gains	77.4	22.8
Unrealized holding losses	-0.7	-40.3
Fair value of securities with temporary unrealized holding losses	24.8	195.2
Debt securities held by savings bank subsidary [Member]
Investments in Sponsored Mutual Funds (Detail)
Aggregate cost	181.6
Unrealized holding gains	3.2
Fair value of securities with temporary unrealized holding losses	28.1

16_DEBT SECURITIES HELD BY AND

DEBT SECURITIES HELD BY AND CUSTOMER DEPOSITS AT SAVINGS BANK SUBSIDIARY. (Detail) (USD $)
In Millions	6 Months Ended Jun. 30, 2009	6 Months Ended Jun. 30, 2009 Debt securities held by savings bank subsidary [Member]
Debt Securities Held By and Customer Deposits at Savings Bank Subsidiary (Detail)
Number of investments with temporary impairment		50
Investments with temporary impairment of (fair values)
Less than 12 months		15.4
12 months or more		12.7
Fair value of securities with temporary unrealized holding losses		28.1
Investments with temporary impairment of (unrealized holding gains (losses))
Less than 12 months		-0.5
12 months or more		-1.6
Unrealized holding losses		-2.1
Investments with unrealized holding gains		154.6
Unrealized holding gains		3.2
Debt securities held by savings bank subsidiary	182.7
Net unrealized holding gains (losses)		1.1
Aggregate cost		181.6
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Cause		The unrealized losses in these investments were generally caused by changes in interest rates and market liquidity, and not by changes in credit quality.
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Other		We intend to hold these securities to their maturities, which generally correlate to the maturities of our customer deposits, and believe it is more-likely-than not that we will not be required to sell any of these securities before recovery of their amortized cost. Accordingly, impairment of these investments is considered temporary.
Estimated fair value of customer deposit liability, basis for measurement	The estimated fair value of our customer deposit liability, based on discounting expected cash outflows at maturity dates that range up to five years, using current interest rates offered for deposits with the same dates of maturity, was $172.9 million at June 30, 2009.
Estimated fair value of customer deposit liability	172.9

OTHER INVESTMENTS. (Detail)

OTHER INVESTMENTS. (Detail) (USD $)
In Millions	Jun. 30, 2009
Other Investments (Detail)
Cost method investments	40.3
Sponsored mutual fund investments held as trading	1.5
Equity method investments	0.3
Other investments	42.1

FAIR VALUE MEASUREMENTS. (Detai

FAIR VALUE MEASUREMENTS. (Detail) (USD $)
In Millions	6 Months Ended Jun. 30, 2009
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Fair Value Measurements Table [Text Block]	Level 1 Level 2 Cash equivalents $ 593.1 Investments in sponsored mutual funds Held as available-for-sale 558.3 Held as trading 1.5 Debt securities held by savings bank subsidiary - $ 182.7 Total $ 1,152.9 $ 182.7
Investment in sponsored mutual funds [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value Measurements (Detail)
Investments	558.3
Investment in sponsored mutual funds held as trading [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value Measurements (Detail)
Investments	1.5
Debt securities held by savings bank subsidary [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value Measurements (Detail)
Investments	0
Debt securities held by savings bank subsidary [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Measurements (Detail)
Investments	182.7
Fair Value, Inputs, Level 1 [Member]
Fair Value Measurements (Detail)
Cash equivalents	593.1
Total	1152.9
Fair Value, Inputs, Level 2 [Member]
Fair Value Measurements (Detail)
Total	182.7

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Detail) (USD $)
In Millions, except Share data, unless otherwise specified	3 Months Ended Dec. 31, 2009	3 Months Ended Sep. 30, 2009	6 Months Ended Jun. 30, 2009	12 Months Ended Dec. 31, 2010	48 Months Ended Dec. 31, 2014	Dec. 31, 2008
Stock option rollforward elements (shares)
Outstanding at beginning of 2009		40,118,591	39,037,741
Exercised			(1,547,784)
Forfeited or expired			(753,174)
Outstanding at June 30, 2009			40,118,591			39,037,741
Exercisable at June 30, 2009			21,875,361
Stock option rollforward elements (Weighted average exercise prices)
Outstanding at beginning of 2009		36.39	36.52
Exercised			18.69
Forfeited or expired			43.26
Outstanding at June 30, 2009			36.39			36.52
Exercisable at June 30, 2009			29.75
Nonvested restricted shares and restricted stock units rollforward (Weighted average grant date fair values)
Nonvested at beginning of 2009		48.03	54.28
Granted to employees and directors			27.95
Vested			55.13
Forfeited			49.79
Nonvested at June 30, 2009			48.03			54.28
Future stock-based compensation expense
Future stock-based compensation to be recognized	15.5	20.7		47.9	42.4
Total			126.5
Restricted shares [Member]
Nonvested restricted shares and restricted stock units rollforward (shares)
Nonvested at beginning of 2009		581,206	475,194
Granted to employees and directors			129,950
Vested			(5,525)
Forfeited			(18,413)
Nonvested at June 30, 2009			581,206			475,194
Restricted stock units [Member]
Nonvested restricted shares and restricted stock units rollforward (shares)
Nonvested at beginning of 2009		300,889	233,539
Granted to employees and directors			83,700
Vested			(7,850)
Forfeited			(8,500)
Nonvested at June 30, 2009			300,889			233,539
Semiannual grants [Member]
Stock option rollforward elements (shares)
Grants			3,133,170
Stock option rollforward elements (Weighted average exercise prices)
Grants			27.48
Reload grants [Member]
Stock option rollforward elements (shares)
Grants			241,638
Stock option rollforward elements (Weighted average exercise prices)
Grants			39.75
New hire grants [Member]
Stock option rollforward elements (shares)
Grants			7,000
Stock option rollforward elements (Weighted average exercise prices)
Grants			36.4

EARNINGS PER SHARE. (Detail)

EARNINGS PER SHARE. (Detail) (USD $)
Share data in Millions, unless otherwise specified	3 Months Ended Jun. 30, 2009	3 Months Ended Jun. 30, 2008	6 Months Ended Jun. 30, 2009	6 Months Ended Jun. 30, 2008	12 Months Ended Dec. 31, 2008
Earnings Per Share (Detail)
Reduction in diluted earnings per share		0.01			0.01
Weighted average shares
Outstanding	255.2	259.6	255.3	260.7
Outstanding assuming dilution	261.7	272.2	260.2	272.8

Document and Entity Information

Document and Entity Information (USD $)
In Billions, except Share data, unless otherwise specified	6 Months Ended Jun. 30, 2009	Jul. 22, 2009	Jan. 31, 2009
Document and Entity Information
Entity Registrant Name	T. ROWE PRICE GROUP, INC.
Entity Central Index Key	0001113169
Document Type	10-Q
Document Period End Date	2009-06-30
Amendment Flag	false
Amendment Description	n/a
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			13.96
Entity Common Stock, Shares Outstanding		256,122,935
Entity Tax Identification Number	522264646
Entity Accounting Standard	US GAAP
Entity Incorporation, State Country Name	Maryland
Entity Number of Employees	4,875
Entity Address, Address Description	principal
Entity Address, Address Line One	100 East Pratt Street
Entity Address, City or Town	Baltimore
Entity Address, State or Province	Maryland
Entity Address, Country	United States of America
Entity Address, Postal Zip Code	21202
Trading Symbol	TROW
Entity Listing, Par Value Per Share	0.2