T. Rowe Price (TROW) 10-Q 23 Apr 10 2010 Q1 Quarterly report Financial data

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
In Millions	3 Months Ended Mar. 31, 2010	12 Months Ended Dec. 31, 2009
ASSETS
Cash and cash equivalents	764.1	743.3
Accounts receivable and accrued revenue	259	246.2
Investments in sponsored mutual funds	702.9	677.5
Debt securities held by savings bank subsidiary	181.4	182.6
Other investments	191.5	45.7
Property and equipment	518.9	512.8
Goodwill	665.7	665.7
Other assets	108.9	136.5
Total assets	3392.4	3210.3
Liabilities
Accounts payable and accrued expenses	77.8	79.9
Accrued compensation and related costs	82.9	53.3
Income taxes payable	64.6	33.6
Customer deposits at savings bank subsidiary	160.2	161.3
Total liabilities	385.5	328.1
Commitments and contingent liabilities
Stockholders' equity
Preferred stock, undesignated, $.20 par value - authorized and unissued 20,000,000 shares
Common stock, $.20 par value - authorized 750,000,000; issued 258,534,000 shares in 2009 and 259,423,000 in 2010	51.9	51.7
Additional capital in excess of par value	518.4	488.5
Retained earnings	2323.1	2240.1
Accumulated other comprehensive income	113.5	101.9
Total stockholders' equity	3006.9	2882.2
Total liabilities and stockholders' equity	3392.4	3210.3

1_UNAUDITED CONDENSED CONSOLIDA

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical)
	Mar. 31, 2010	Dec. 31, 2009
Preferred stock, par value per share	0.2	0.2
Preferred stock, shares authorized	20,000,000	20,000,000
Common stock, par value per share	0.2	0.2
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	259,423,000	258,534,000

2_UNAUDITED CONDENSED CONSOLIDA

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Millions, unless otherwise specified	3 Months Ended Mar. 31, 2010	3 Months Ended Mar. 31, 2009
Revenues
Investment advisory fees	471.8	306.8
Administrative fees	83.6	77.4
Investment income of savings bank subsidiary	1.7	1.5
Total revenues	557.1	385.7
Interest expense on savings bank deposits	0.9	1.2
Net revenues	556.2	384.5
Operating expenses
Compensation and related costs	207.7	175.4
Advertising and promotion	23.5	22.7
Depreciation and amortization of property and equipment	15.4	16.7
Occupancy and facility costs	25.7	25.4
Other operating expenses	45.2	33.7
Total operating expenses	317.5	273.9
Net operating income	238.7	110.6
Non-operating investment income (loss)	5.3	(36)
Income before income taxes	244	74.6
Provision for income taxes	91	26.4
Net income	$153	48.2
Earnings per share on common stock
Basic (in dollars per share)	0.59	0.19
Diluted (in dollars per share)	0.57	0.19
Dividends declared per share (in dollars per share)	0.27	0.25

3_UNAUDITED CONDENSED CONSOLIDA

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions	3 Months Ended Mar. 31, 2010	3 Months Ended Mar. 31, 2009
Cash flows from operating activities
Net income	$153	48.2
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization of property and equipment	15.4	16.7
Stock-based compensation expense	20.1	20.6
Intangible asset amortization	0.1	0.1
Other than temporary impairments of investments in sponsored mutual funds		35.6
Other changes in assets and liabilities	68.1	18.2
Net cash provided by operating activities	256.7	139.4
Cash flows from investing activities
Investment in UTI Asset Management Company Limited	-143.6
Investments in sponsored mutual funds	-7.8
Dispositions of sponsored mutual funds	2	3
Investments in debt securities held by savings bank subsidiary	-11.9	-30.4
Proceeds from debt securities held by savings bank subsidiary	13.3	12.9
Additions to property and equipment	(25)	-30.8
Other investing activity	-1.4	(2)
Net cash used in investing activities	-174.4	-47.3
Cash flows from financing activities
Repurchases of common stock	-32.7	-50.9
Common share issuances under stock-based compensation plans	30.6	6.4
Excess tax benefits from share-based compensation plans	11.7	1.3
Dividends	(70)	-63.9
Change in savings bank subsidiary deposits	-1.1	17.7
Net cash used in financing activities	-61.5	-89.4
Cash and cash equivalents
Net change during period	20.8	2.7
At beginning of year	743.3	619.1
At end of period	764.1	621.8

4_UNAUDITED CONDENSED CONSOLIDA

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (USD $)
In Millions, except Share data in Thousands	Common stock [Member]	Additional capital in excess of par value [Member]	Retained earnings [Member]	Accumulated other comprehensive income [Member]	Total
Balances (shares) at Dec. 31, 2009	258,534				258,534
Balances at Dec. 31, 2009	51.7	488.5	2240.1	101.9	2882.2
Common stock-based compensation plans activity
Shares issued upon option exercises	0.3	30.3			30.6
Shares issued upon option exercises (shares)	1,432
Restricted shares issued (shares)	122
Shares issued on vesting of restricted stock units (shares)	1
Net tax benefits		12.1			12.1
Stock-based compensation expense		20.1			20.1
Common shares repurchased	-0.1	-32.6			-32.7
Common shares repurchased (shares)	(666)
Comprehensive income
Net income			153		153
Net unrealized holding gains				11.6	11.6
Total comprehensive income					164.6
Dividends			(70)		(70)
Balances at Mar. 31, 2010	51.9	518.4	2323.1	113.5	3006.9
Balances (shares) at Mar. 31, 2010	259,423				259,423

THE COMPANY AND BASIS OF PREPAR

THE COMPANY AND BASIS OF PREPARATION.
	3 Months Ended Mar. 31, 2010
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, which require the use of estimatesand 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.Actual results may vary from our estimates. 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 2009 Annual Report.

INFORMATION ABOUT RECEIVABLES,

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES.
	3 Months Ended Mar. 31, 2010
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 $130.1 million at December 31, 2009, and $136.9 million at March 31, 2010. Revenues (in millions) from advisory services provided under agreements with our sponsored mutual funds and other investment clients include: Three months ended 3/31/2009 3/31/2010 Sponsored mutual funds in the U.S. Stock and blended asset $ 162.0 $ 262.8 Bond and money market 49.7 62.6 211.7 325.4 Other portfolios 95.1 146.4 Total investment advisory fees $ 306.8 $ 471.8 The following table summarizes the various investment portfolios and assets under management (in billions) on which we earn advisory fees. Average during the first quarter 2009 2010 12/31/2009 3/31/2010 Sponsored mutual funds in the U.S. Stock and blended asset $ 109.9 $ 175.6 $ 172.7 $ 185.9 Bond and money market 47.4 61.7 60.0 63.6 157.3 237.3 232.7 249.5 Other portfolios 107.5 159.6 158.6 169.5 $ 264.8 $ 396.9 $ 391.3 $ 419.0 Investors that we serve are primarily domiciled in the United States of America; investment advisory clients outside the United States account for 12% of our assets under management at March 31, 2010. Fees for advisory-related administrative services provided to our sponsored mutual funds during the first three months of the year were $61.7 million in 2009 and $65.6 million in 2010.

INVESTMENTS IN SPONSORED MUTUAL

INVESTMENTS IN SPONSORED MUTUAL FUNDS.
	3 Months Ended Mar. 31, 2010
Investments in Sponsored Mutual Funds [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, 2009 Stock and blended asset funds $ 278.6 $ 125.7 $ - $ 404.3 Bond funds 238.9 34.3 - 273.2 $ 517.5 $ 160.0 $ - $ 677.5 March 31, 2010 Stock and blended asset funds $ 285.1 $ 142.6 $ - $ 427.7 Bond funds 238.9 36.3 - 275.2 $ 524.0 $ 178.9 $ - $ 702.9

DEBT SECURITIES HELD BY AND CUS

DEBT SECURITIES HELD BY AND CUSTOMER DEPOSITS AT SAVINGS BANK SUBSIDIARY.
	3 Months Ended Mar. 31, 2010
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. 12/31/2009 3/31/2010 Unrealized Unrealized holding holding Fair gains Fair gains value (losses) value (losses) Investments with temporary impairment (40 securities in 2010) of Less than 12 months $ 14.4 $ (.3) $ 14.8 $ ( .2) 12 months or more 9.8 (.8) 8.7 ( .8) Total 24.2 (1.1) 23.5 (1.0) Investments with unrealized holding gains 158.4 4.4 157.9 4.5 Total debt securities $182.6 $3.3 $181.4 $3.5 Aggregate cost $179.3 $177.9 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 $164.9 million at December 31, 2009, and$163.8 million at March 31, 2010.

OTHER INVESTMENTS.

OTHER INVESTMENTS.
	3 Months Ended Mar. 31, 2010
Other Investments [Text Block]	NOTE 5 OTHER INVESTMENTS. These investments (in millions) include: 12/31/2009 3/31/2010 Cost method investments 10% interest in Daiwa SB Investments Ltd.(Japan) $13.6 $13.6 Other investments 27.8 28.8 Equity method investments 26% interest in UTI Asset Management Company Limited (India) - 145.6 Other investments 1.6 2.0 Sponsored mutual fund investments held as trading 1.8 1.5 INR non-deliverable forward contract .9 - Total other investments $45.7 $191.5 On January 20, 2010, we purchased a 26% equity interest in UTI Asset Management Company and an affiliate from existing stockholders for 6.5 billion Indian rupees (INR) or $142.4 million, plus transaction costs of $3.2 million of which $2.0 million were paid in 2009. In conjunction with our signing of the definitive UTI purchase agreements in November 2009, we entered into a series of rolling non-deliverable forward contracts to economically hedge the foreign currency exchange rate exposure relating to the UTI acquisition price. We recognized non-operating investment income of $2.2 million in January 2010 in the valuation and settlement of these contracts.

FAIR VALUE MEASUREMENTS.

FAIR VALUE MEASUREMENTS.
	3 Months Ended Mar. 31, 2010
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. There were no transfers in or out of the levels. The following table summarizes our investments (in millions) that are recognized in our balance sheet using fair value measurements determined based on the differing levels of inputs. Level 1 Level 2 December 31, 2009 Cash equivalents $ 676.5 Investments in sponsored mutual funds Held as available-for-sale 677.5 Held as trading 1.8 Debt securities held by savings bank subsidiary - $ 182.6 INR non-deliverable forward contract .9 - Total $ 1,356.7 $ 182.6 March 31, 2010 Cash equivalents $ 687.9 Investments in sponsored mutual funds Held as available-for-sale 702.9 Held as trading 1.5 Debt securities held by savings bank subsidiary - $ 181.4 Total $ 1,392.3 $ 181.4

STOCK-BASED COMPENSATION.

STOCK-BASED COMPENSATION.
	3 Months Ended Mar. 31, 2010
Stock-Based Compensation [Text Block]	NOTE 7 STOCK-BASED COMPENSATION. Stock-based grants. The following table summarizes the status of and changes in our stock option grants during the first three months of 2010. Weighted- average exercise Options price Outstanding at beginning of year 39,269,159 $38.10 Semiannual grants 2,820,750 $49.60 Reload grants 32,597 $53.97 Exercised (1,707,372) $26.55 Forfeited (197,200) $44.81 Expired (27,178) $57.06 Outstanding at end of period 40,190,756 $39.37 Exercisable at end of period 21,714,306 $34.03 The following table summarizes the status of and changes in our nonvested restricted shares and restricted stock units during the first three months of 2010. Restricted Restricted stock Weighted-average shares units fair value Nonvested at beginning of year 587,919 310,951 $46.19 Granted to employees 122,050 64,125 $49.63 Vested (625) (1,250) $49.89 Forfeited - (8,500) $46.87 Nonvested at end of period 709,344 365,326 $46.78 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 March 31, 2010. 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. Second quarter 2010 $ 22.0 Third quarter 2010 21.4 Fourth quarter 2010 16.5 2011 51.7 2012 through 2015 47.2 Total $ 158.8

EARNINGS PER SHARE CALCULATIONS

EARNINGS PER SHARE CALCULATIONS.
	3 Months Ended Mar. 31, 2010
Earnings Per Share Calculations [Text Block]	NOTE 8 EARNINGS PER SHARE CALCULATIONS. The reconciliation (in millions) of our net income to net income allocated to our common stockholders and the weighted average shares (in millions) that are used in calculating the basic and the diluted earnings per share on our common stock follow. Three months ended 3/31/2009 3/31/2010 Net income $ 48.2 $ 153.0 Less: net income allocated to outstanding restricted stock and stock units (.2) (.6) Net income allocated to common stockholders $ 48.0 $ 152.4 Weighted average common shares Outstanding 255.4 258.2 Outstanding assuming dilution 259.0 266.2 Weighted average common shares outstanding assuming dilution reflects the potential additional dilution, determined using the treasury stock method that could occur if outstanding stock options were exercised. The weighted average common shares outstanding assuming dilution for the first quarter of 2010 excludes the effect of 11.4 million outstanding stock options with an average exercise price of $52.73 that, when taken together with related unrecognized compensation expense, are out-of-the-money.

INVESTMENT GAINS AND OTHER COMP

INVESTMENT GAINS AND OTHER COMPREHENSIVE INCOME.
	3 Months Ended Mar. 31, 2010
Investment Gains and Other Comprehensive Income [Text Block]	NOTE 9 INVESTMENT GAINS AND OTHER COMPREHENSIVE INCOME. The following table reconciles our net unrealized holding gains (in millions) for the first three months of 2010 to that recognized in other comprehensive income. Investments in sponsored mutual funds Debt securities held by savings bank subsidiary Total Net unrealized holding gains $ 19.6 $ .2 $ 19.8 Net gains realized in non-operating investment income on dispositions (.7) - (.7) Net unrealized holding gains recognized in other comprehensive income, before taxes 18.9 .2 19.1 Deferred income taxes (7.4) (.1) (7.5) Net unrealized holding gains recognized in other comprehensive income $ 11.5 $ .1 $ 11.6 The components of accumulated other comprehensive income (in millions) at March 31, 2010, are presented below. Net unrealized holding gains on Investments in sponsored mutual funds $ 178.9 Debt securities held by savings bank subsidiary 3.5 182.4 Deferred income taxes (68.9) $ 113.5

5_INFORMATION ABOUT RECEIVABLES

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Tables)
	3 Months Ended Mar. 31, 2010
Components of Investment Advisory Fees [Text Block]	Three months ended 3/31/2009 3/31/2010 Sponsored mutual funds in the U.S. Stock and blended asset $ 162.0 $ 262.8 Bond and money market 49.7 62.6 211.7 325.4 Other portfolios 95.1 146.4 Total investment advisory fees $ 306.8 $ 471.8
Components of Assets Under Management [Text Block]	Average during the first quarter 2009 2010 12/31/2009 3/31/2010 Sponsored mutual funds in the U.S. Stock and blended asset $ 109.9 $ 175.6 $ 172.7 $ 185.9 Bond and money market 47.4 61.7 60.0 63.6 157.3 237.3 232.7 249.5 Other portfolios 107.5 159.6 158.6 169.5 $ 264.8 $ 396.9 $ 391.3 $ 419.0

6_INVESTMENTS IN SPONSORED MUTU

INVESTMENTS IN SPONSORED MUTUAL FUNDS. (Tables)
	3 Months Ended Mar. 31, 2010
Components of Investments in Sponsored Mutual Funds [Text Block]	Aggregate Unrealized holding Aggregate cost Gains Losses fair value December 31, 2009 Stock and blended asset funds $ 278.6 $ 125.7 $ - $ 404.3 Bond funds 238.9 34.3 - 273.2 $ 517.5 $ 160.0 $ - $ 677.5 March 31, 2010 Stock and blended asset funds $ 285.1 $ 142.6 $ - $ 427.7 Bond funds 238.9 36.3 - 275.2 $ 524.0 $ 178.9 $ - $ 702.9

7_DEBT SECURITIES HELD BY AND C

DEBT SECURITIES HELD BY AND CUSTOMER DEPOSITS AT SAVINGS BANK SUBSIDIARY. (Tables)
	3 Months Ended Mar. 31, 2010
Components of Investments in Debt Securities [Text Block]	12/31/2009 3/31/2010 Unrealized Unrealized holding holding Fair gains Fair gains value (losses) value (losses) Investments with temporary impairment (40 securities in 2010) of Less than 12 months $ 14.4 $ (.3) $ 14.8 $ ( .2) 12 months or more 9.8 (.8) 8.7 ( .8) Total 24.2 (1.1) 23.5 (1.0) Investments with unrealized holding gains 158.4 4.4 157.9 4.5 Total debt securities $182.6 $3.3 $181.4 $3.5 Aggregate cost $179.3 $177.9

8_OTHER INVESTMENTS.

OTHER INVESTMENTS. (Tables)
	3 Months Ended Mar. 31, 2010
Components of Other Investments [Text Block]	12/31/2009 3/31/2010 Cost method investments 10% interest in Daiwa SB Investments Ltd.(Japan) $13.6 $13.6 Other investments 27.8 28.8 Equity method investments 26% interest in UTI Asset Management Company Limited (India) - 145.6 Other investments 1.6 2.0 Sponsored mutual fund investments held as trading 1.8 1.5 INR non-deliverable forward contract .9 - Total other investments $45.7 $191.5

9_FAIR VALUE MEASUREMENTS.

FAIR VALUE MEASUREMENTS. (Tables)
	3 Months Ended Mar. 31, 2010
Fair Value Measurements Table [Text Block]	Level 1 Level 2 December 31, 2009 Cash equivalents $ 676.5 Investments in sponsored mutual funds Held as available-for-sale 677.5 Held as trading 1.8 Debt securities held by savings bank subsidiary - $ 182.6 INR non-deliverable forward contract .9 - Total $ 1,356.7 $ 182.6 March 31, 2010 Cash equivalents $ 687.9 Investments in sponsored mutual funds Held as available-for-sale 702.9 Held as trading 1.5 Debt securities held by savings bank subsidiary - $ 181.4 Total $ 1,392.3 $ 181.4

10_STOCK-BASED COMPENSATION.

STOCK-BASED COMPENSATION. (Tables)
	3 Months Ended Mar. 31, 2010
Rollforward of Stock Options [Text Block]	Weighted- average exercise Options price Outstanding at beginning of year 39,269,159 $38.10 Semiannual grants 2,820,750 $49.60 Reload grants 32,597 $53.97 Exercised (1,707,372) $26.55 Forfeited (197,200) $44.81 Expired (27,178) $57.06 Outstanding at end of period 40,190,756 $39.37 Exercisable at end of period 21,714,306 $34.03
Rollforward of Restricted Shares and Restricted Stock Units [Text Block]	Restricted Restricted stock Weighted-average shares units fair value Nonvested at beginning of year 587,919 310,951 $46.19 Granted to employees 122,050 64,125 $49.63 Vested (625) (1,250) $49.89 Forfeited - (8,500) $46.87 Nonvested at end of period 709,344 365,326 $46.78
Future Stock-Based Compensation [Text Block]	Second quarter 2010 $ 22.0 Third quarter 2010 21.4 Fourth quarter 2010 16.5 2011 51.7 2012 through 2015 47.2 Total $ 158.8

11_EARNINGS PER SHARE CALCULATI

EARNINGS PER SHARE CALCULATIONS. (Tables)
	3 Months Ended Mar. 31, 2010
Earnings Per Share Calculations Table [Text Block]	Three months ended 3/31/2009 3/31/2010 Net income $ 48.2 $ 153.0 Less: net income allocated to outstanding restricted stock and stock units (.2) (.6) Net income allocated to common stockholders $ 48.0 $ 152.4 Weighted average common shares Outstanding 255.4 258.2 Outstanding assuming dilution 259.0 266.2

12_INVESTMENT GAINS AND OTHER C

INVESTMENT GAINS AND OTHER COMPREHENSIVE INCOME. (Tables)
	3 Months Ended Mar. 31, 2010
Reconciliation of Net Unrealized Holding Gains to Amounts Recognized in Other Comprehensive Income [Text Block]	Investments in sponsored mutual funds Debt securities held by savings bank subsidiary Total Net unrealized holding gains $ 19.6 $ .2 $ 19.8 Net gains realized in non-operating investment income on dispositions (.7) - (.7) Net unrealized holding gains recognized in other comprehensive income, before taxes 18.9 .2 19.1 Deferred income taxes (7.4) (.1) (7.5) Net unrealized holding gains recognized in other comprehensive income $ 11.5 $ .1 $ 11.6
Components of Accumulated Other Comprehensive Income [Text Block]	Net unrealized holding gains on Investments in sponsored mutual funds $ 178.9 Debt securities held by savings bank subsidiary 3.5 182.4 Deferred income taxes (68.9) $ 113.5

13_THE COMPANY AND BASIS OF PRE

THE COMPANY AND BASIS OF PREPARATION. (Detail)
	3 Months Ended Mar. 31, 2010
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 preparation	These unaudited condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States, which require the use of estimates 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. Actual results may vary from our estimates. 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 2009 Annual Report.

14_INFORMATION ABOUT RECEIVABLE

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Detail) (USD $)
	3 Months Ended Mar. 31, 2010	3 Months Ended Mar. 31, 2009	Dec. 31, 2009
Accounts receivable and accrued revenue	$259,000,000		$246,200,000
Investment advisory fees	471,800,000	306,800,000
Average assets under management	396,900,000,000	264,800,000,000
Period end assets under management	419,000,000,000		391,300,000,000
Percentage of period end assets under management from foreign countries	0.12
Sponsored mutual funds in the U.S. [Member]
Accounts receivable and accrued revenue	136,900,000		130,100,000
Investment advisory fees	325,400,000	211,700,000
Average assets under management	237,300,000,000	157,300,000,000
Period end assets under management	249,500,000,000		232,700,000,000
Fees for advisory-related admnistrative services	65,600,000	61,700,000
Stock and blended asset funds [Member]
Investment advisory fees	262,800,000	162,000,000
Average assets under management	175,600,000,000	109,900,000,000
Period end assets under management	185,900,000,000		172,700,000,000
Bond and money market funds [Member]
Investment advisory fees	62,600,000	49,700,000
Average assets under management	61,700,000,000	47,400,000,000
Period end assets under management	63,600,000,000		60,000,000,000
Other portfolios [Member]
Investment advisory fees	146,400,000	95,100,000
Average assets under management	159,600,000,000	107,500,000,000
Period end assets under management	$169,500,000,000		$158,600,000,000

15_INVESTMENTS IN SPONSORED MUT

INVESTMENTS IN SPONSORED MUTUAL FUNDS. (Detail) (USD $)
In Millions	Mar. 31, 2010	Dec. 31, 2009
Aggregate fair value	702.9	677.5
Stock and blended asset funds [Member]
Aggregate cost	285.1	278.6
Unrealized holding gains	142.6	125.7
Aggregate fair value	427.7	404.3
Bond funds [Member]
Aggregate cost	238.9	238.9
Unrealized holding gains	36.3	34.3
Aggregate fair value	275.2	273.2
Investments in sponsored mutual funds [Member]
Aggregate cost	524	517.5
Unrealized holding gains	178.9	160
Debt securities held by savings bank subsidiary [Member]
Aggregate cost	177.9	179.3
Unrealized holding gains	4.5	4.4
Total fair value of investments with temporary impairment	23.5	24.2

16_DEBT SECURITIES HELD BY AND

DEBT SECURITIES HELD BY AND CUSTOMER DEPOSITS AT SAVINGS BANK SUBSIDIARY. (Detail) (USD $)
In Millions	3 Months Ended Mar. 31, 2010	Dec. 31, 2009
Investments with temporary impairment (40 securities in 2010) of (unrealized holding gains (losses))
Total debt securities	181.4	182.6
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 $164.9 million at December 31, 2009, and $163.8 million at March 31, 2010.
Estimated fair value of customer deposit liability	163.8	164.9
Stock and blended asset funds [Member]
Investments with temporary impairment (40 securities in 2010) of (unrealized holding gains (losses))
Unrealized holding gains	142.6	125.7
Aggregate cost	285.1	278.6
Bond funds [Member]
Investments with temporary impairment (40 securities in 2010) of (unrealized holding gains (losses))
Unrealized holding gains	36.3	34.3
Aggregate cost	238.9	238.9
Investments in sponsored mutual funds [Member]
Investments with temporary impairment (40 securities in 2010) of (unrealized holding gains (losses))
Unrealized holding gains	178.9	160
Aggregate cost	524	517.5
Debt securities held by savings bank subsidiary [Member]
Investments with temporary impairment (40 securities in 2010) of (fair values)
Less than 12 months	14.8	14.4
12 months or more	8.7	9.8
Total fair value of investments with temporary impairment	23.5	24.2
Investments with temporary impairment (40 securities in 2010) of (unrealized holding gains (losses))
Less than 12 months	-0.2	-0.3
12 months or more	-0.8	-0.8
Unrealized holding losses	(1)	-1.1
Investments with unrealized holding gains	157.9	158.4
Unrealized holding gains	4.5	4.4
Net unrealized holding gains (losses)	3.5	3.3
Aggregate cost	177.9	179.3
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.

17_DEBT SECURITIES HELD BY AND

DEBT SECURITIES HELD BY AND CUSTOMER DEPOSITS AT SAVINGS BANK SUBSIDIARY (Detail) (Parenthetical)
	Mar. 31, 2010
Number of investments with temporary impairment	40

OTHER INVESTMENTS. (Detail)

OTHER INVESTMENTS. (Detail) (USD $)
In Millions	0 Months Ended Jan. 20, 2010	3 Months Ended Mar. 31, 2010	12 Months Ended Dec. 31, 2009
Schedule of Equity Method Investments [Line Items]
Investment in UTI Asset Management Company [Text Block]	On January 20, 2010, we purchased a 26% equity interest in UTI Asset Management Company and an affiliate from existing stockholders for 6.5 billion Indian rupees (INR) or $142.4 million, plus transaction costs of $3.2 million of which $2.0 million were paid in 2009.
Equity method investments [Abstract]
Sponsored mutual fund investments held as trading		1.5	1.8
INR non-deliverable forward contract			0.9
Total other investments		191.5	45.7
Cash payments for investment in UTI Asset Management Company, including transaction costs		143.6	2
Gains (losses) recognized on INR non-deliverable forward contract	2.2
10% Interest in Daiwa SB Investments Ltd. (Japan) [Member]
Schedule of Equity Method Investments [Line Items]
Cost method investments		13.6	13.6
Other investments [Member]
Schedule of Equity Method Investments [Line Items]
Cost method investments		28.8	27.8
Equity method investments [Abstract]
Equity method investments		2	1.6
26% Interest in UTI Asset Management Company Limited (India) [Member]
Equity method investments [Abstract]
Equity method investments		145.6
Equity Method Investment, Ownership Percentage	0.26	0.26
26% Interest in UTI Asset Management Company Limited (India), Purchase Price [Member]
Equity method investments [Abstract]
Equity Method Investment, Aggregate Cost	142.4
26% Interest in UTI Asset Management Company Limited (India), Transaction Costs [Member]
Equity method investments [Abstract]
Equity Method Investment, Aggregate Cost	3.2

18_OTHER INVESTMENTS. (Detail)

OTHER INVESTMENTS. (Detail) (Parenthetical)
	Mar. 31, 2010 10% Interest in Daiwa SB Investments Ltd. (Japan) [Member]	Dec. 31, 2009 10% Interest in Daiwa SB Investments Ltd. (Japan) [Member]
10% Interest in Daiwa SB Investments Ltd. (Japan) [Member]
Schedule of Equity Method Investments [Line Items]
Cost Method Investment, Ownership Percentage	0.1	0.1
26% Interest in UTI Asset Management Company Limited (India) [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	0.26	0.26

FAIR VALUE MEASUREMENTS. (Detai

FAIR VALUE MEASUREMENTS. (Detail) (USD $)
In Millions	Mar. 31, 2010 Investments in sponsored mutual funds held as available-for-sale [Member] Level 1 [Member]	Dec. 31, 2009 Investments in sponsored mutual funds held as available-for-sale [Member] Level 1 [Member]
Investments in sponsored mutual funds held as available-for-sale Level 1 [Member]
Fair Value Measurements (Detail)
Investments	702.9	677.5
Investments in sponsored mutual funds held as trading Level 1 [Member]
Fair Value Measurements (Detail)
Investments	1.5	1.8
Debt securities held by savings bank subsidiary Level 2 [Member]
Fair Value Measurements (Detail)
Investments	181.4	182.6
Level 1 [Member]
Fair Value Measurements (Detail)
Cash equivalents	687.9	676.5
INR non-deliverable forward contract		0.9
Total	1392.3	1356.7
Level 2 [Member]
Fair Value Measurements (Detail)
Total	181.4	182.6

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Detail) (USD $)
In Millions, except Share data, unless otherwise specified	3 Months Ended Dec. 31, 2010	3 Months Ended Sep. 30, 2010	3 Months Ended Jun. 30, 2010	3 Months Ended Mar. 31, 2010	12 Months Ended Dec. 31, 2011	48 Months Ended Dec. 31, 2015	Dec. 31, 2009
Stock option rollforward elements
Outstanding at beginning of year			40,190,756	39,269,159
Exercised				(1,707,372)
Forfeited				(197,200)
Expired				(27,178)
Outstanding at end of period				40,190,756			39,269,159
Exercisable at end of period				21,714,306
Weighted-average exercise price of options outstanding at beginning of year (in dollars per option)			39.37	38.1
Weighted-average exercise price of options exercised (in dollars per option)				26.55
Weighted-average exercise price of options forfeited (in dollars per option)				44.81
Weighted-average exercise price of options expired (in dollars per option)				57.06
Weighted-average exercise price of options outstanding at end of period (in dollars per option)				39.37			38.1
Weighted-average exercise price of options exercisable at end of period (in dollars per option)				34.03
Nonvested restricted shares and restricted stock units rollforward
Weighted-average fair value of nonvested restricted shares and restricted stock units at beginning of year (in dollars per share)			46.78	46.19
Weighted-average fair value of restricted shares and restricted stock units granted to employees (in dollars per share)				49.63
Weighted-average fair value of restricted shares and restricted stock units vested (in dollars per share)				49.89
Weighted-average fair value of restricted shares and restricted stock units forfeited (in dollars per share)				46.87
Weighted-average fair value of nonvested restricted shares and restricted stock units at end of year (in dollars per share)				46.78			46.19
Future stock-based compensation expense
Future stock-based compensation to be recognized	16.5	21.4	$22		51.7	47.2
Total				158.8
Restricted shares [Member]
Nonvested restricted shares and restricted stock units rollforward
Nonvested at beginning of year			709,344	587,919
Granted to employees				122,050
Vested				(625)
Nonvested at end of period				709,344			587,919
Restricted stock units [Member]
Nonvested restricted shares and restricted stock units rollforward
Nonvested at beginning of year			365,326	310,951
Granted to employees				64,125
Vested				(1,250)
Forfeited				(8,500)
Nonvested at end of period				365,326			310,951
Semiannual grants [Member]
Stock option rollforward elements
Grants				2,820,750
Weighted-average exercise price of option grants (in dollars per option)				49.6
Reload grants [Member]
Stock option rollforward elements
Grants				32,597
Weighted-average exercise price of option grants (in dollars per option)				53.97

19_EARNINGS PER SHARE CALCULATI

EARNINGS PER SHARE CALCULATIONS. (Detail) (USD $)
Share data in Millions	3 Months Ended Mar. 31, 2010	3 Months Ended Mar. 31, 2009
Net income	$153,000,000	$48,200,000
Less: net income allocated to outstanding restricted stock and stock units	(600,000)	(200,000)
Net income allocated to common stockholders (basic)	152,400,000	48,000,000
Net income allocated to common stockholders (diluted)	152,400,000	48,000,000
Weighted average common shares
Outstanding	258.2	255.4
Outstanding assuming dilution	266.2	259
Antidilutive securities
Out-of-the-money options	11.4
Weighted average exercise price of out-of-the-money options (in dollars per option)	52.73

20_INVESTMENT GAINS AND OTHER C

INVESTMENT GAINS AND OTHER COMPREHENSIVE INCOME. (Detail) (USD $)
In Millions	3 Months Ended Mar. 31, 2010
Reconciliation of net unrealized holding gains to amounts recognized in other comprehensive income
Net unrealized holding gains	19.8
Net gains realized in non-operating investment income on dispositions	-0.7
Net unrealized holding gains recognized in other comprehensive income, before taxes	19.1
Deferred income taxes	-7.5
Net unrealized holding gains recognized in other comprehensive income	11.6
Components of accumulated other comprehensive income
Net unrealized holding gains	182.4
Deferred income taxes	-68.9
Accumulated other comprehensive income	113.5
Investments in sponsored mutual funds [Member]
Reconciliation of net unrealized holding gains to amounts recognized in other comprehensive income
Net unrealized holding gains	19.6
Net gains realized in non-operating investment income on dispositions	-0.7
Net unrealized holding gains recognized in other comprehensive income, before taxes	18.9
Deferred income taxes	-7.4
Net unrealized holding gains recognized in other comprehensive income	11.5
Components of accumulated other comprehensive income
Net unrealized holding gains	178.9
Debt securities held by savings bank subsidiary [Member]
Reconciliation of net unrealized holding gains to amounts recognized in other comprehensive income
Net unrealized holding gains	0.2
Net unrealized holding gains recognized in other comprehensive income, before taxes	0.2
Deferred income taxes	-0.1
Net unrealized holding gains recognized in other comprehensive income	0.1
Components of accumulated other comprehensive income
Net unrealized holding gains	3.5
Accumulated other comprehensive income [Member]
Reconciliation of net unrealized holding gains to amounts recognized in other comprehensive income
Net unrealized holding gains recognized in other comprehensive income	11.6

Document and Entity Information

Document and Entity Information (USD $)
In Billions, except Share data, unless otherwise specified	3 Months Ended Mar. 31, 2010	Apr. 21, 2010	Jan. 31, 2010
Entity Registrant Name	PRICE T ROWE GROUP INC
Entity Central Index Key	0001113169
Document Type	10-Q
Document Period End Date	2010-03-31
Amendment Flag	false
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
Document Fiscal Year Focus	2,010
Document Fiscal Period Focus	Q1
Entity Public Float			10.8
Entity Common Stock, Shares Outstanding		259,561,112
Entity Tax Identification Number	522264646
Entity Accounting Standard	US GAAP
Entity Incorporation, State Country Name	Maryland
Entity Number of Employees (an unrounded number of employees)	4,779
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 (in dollars per share)	0.2