T. Rowe Price (TROW) 10-Q 29 Apr 21 2021 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2021	Apr. 27, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	000-32191
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	52-2264646
Entity Address, Address Line One	100 East Pratt Street
Entity Address, City or Town	Baltimore
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	21202
City Area Code	410
Local Phone Number	345-2000
Title of 12(b) Security	Common stock, $.20 par value per share
Trading Symbol	TROW
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		226,855,575
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2021
Entity Registrant Name	PRICE T ROWE GROUP INC
Entity Central Index Key	0001113169
Amendment Flag	false

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 2,830.1	$ 2,151.7
Accounts receivable and accrued revenue	885.9	863.1
Investments	3,403.6	3,250.8
Assets of consolidated T. Rowe Price investment products ($1,782.9 million at March 31, 2021 and $2,497.4 million at December 31, 2020, related to variable interest entities)	1,946.8	2,695.5
Operating lease assets	110.2	117.6
Property and equipment, net	703.9	695.4
Goodwill	665.7	665.7
Other assets	218.2	219.2
Total assets	10,764.4	10,659
LIABILITIES
Accounts payable and accrued expenses	228.9	187.7
Liabilities of consolidated T. Rowe Price investment products ($49.0 million at March 31, 2021 and $47.7 million at December 31, 2020, related to variable interest entities)	53.7	57.7
Operating lease liabilities	146	154.1
Accrued compensation and related costs	260.8	133.6
Supplemental savings plan liability	769.9	772.2
Income taxes payable	284	85
Total liabilities	1,743.3	1,390.3
Commitments and contingent liabilities
Redeemable non-controlling interests	1,012.9	1,561.7
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 226,948,000 shares at March 31, 2021 and 227,965,000 at December 31, 2020	45.4	45.6
Additional capital in excess of par value	654.6	654.6
Retained earnings	7,338.7	7,029.8
Accumulated other comprehensive loss	(30.5)	(23)
Total permanent stockholders’ equity	8,008.2	7,707
Total liabilities, redeemable non-controlling interests, and permanent stockholders’ equity	$ 10,764.4	$ 10,659

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Assets of consolidated T. Rowe Price investment products	$ 1,946.8	$ 2,695.5
Liabilities of consolidated T. Rowe Price investment products	$ 53.7	$ 57.7
Stockholders' equity
Preferred stock, par value (in dollars per share)	$ 0.20	$ 0.20
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, par value (in dollars per share)	$ 0.20	$ 0.20
Common stock, shares authorized (in shares)	750,000,000	750,000,000
Common stock, shares issued (in shares)	226,948,000	227,965,000
Variable interest entities
Assets of consolidated T. Rowe Price investment products	$ 1,782.9	$ 2,497.4
Liabilities of consolidated T. Rowe Price investment products	$ 49	$ 47.7

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues
Net revenues	$ 1,826.8	$ 1,462.6
Operating expenses
Compensation and related costs	583.5	440.7
Distribution and servicing	85.6	65.7
Advertising and promotion	18.9	24.9
Product-related costs	41	41.6
Technology, occupancy, and facility costs	117.3	105.4
General, administrative, and other	87.3	77.1
Total operating expenses	933.6	755.4
Net operating income	893.2	707.2
Non-operating income (loss)
Net gains (losses) on investments	68.6	(154.6)
Net gains (losses) on consolidated investment products	37.2	(330.3)
Other income (loss)	(3.7)	(15.4)
Total non-operating income (loss)	102.1	(500.3)
Income before income taxes	995.3	206.9
Provision for income taxes	230.5	40.3
Net income	764.8	166.6
Less: net income (loss) attributable to redeemable non-controlling interests	15.4	(176.5)
Net income attributable to T. Rowe Price Group	$ 749.4	$ 343.1
Earnings per share on common stock of T. Rowe Price Group
Basic (in dollars per share)	$ 3.20	$ 1.43
Diluted (in dollars per share)	$ 3.17	$ 1.41
Investment advisory fees
Revenues
Net revenues	$ 1,687.8	$ 1,327.8
Administrative, distribution, and servicing fees
Revenues
Net revenues	$ 139	$ 134.8

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net income	$ 764.8	$ 166.6
Other comprehensive income (loss)
Other comprehensive loss before income taxes	(22.3)	(25.3)
Net deferred tax benefits	3	2
Total other comprehensive loss	(19.3)	(23.3)
Total comprehensive income	745.5	143.3
Less: comprehensive income (loss) attributable to redeemable non-controlling interests	3.6	(193.7)
Total comprehensive income attributable to T. Rowe Price Group	741.9	337
Variable interest entities
Other comprehensive income (loss)
Consolidated T. Rowe Price investment products - variable interest entities	(18.9)	(25.1)
Reclassification gains recognized in non-operating income upon deconsolidation of certain T. Rowe Price investment products	(2.6)	(0.1)
Currency translation adjustments	(21.5)	(25.2)
Equity method investments
Other comprehensive income (loss)
Currency translation adjustments	$ (0.8)	$ (0.1)

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities
Net income	$ 764.8	$ 166.6
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization of property and equipment	49	46.1
Stock-based compensation expense	57.5	58.3
Net (gains) losses recognized on investments	(59.5)	167.3
Net change in T. Rowe Price investment products used to economically hedge supplemental savings plan liability	22	(8.9)
Net change in securities held by consolidated T. Rowe Price investment products	(120.9)	234.6
Other changes in assets and liabilities	281.8	123.7
Net cash provided by operating activities	994.7	787.7
Cash flows from investing activities
Purchases of T. Rowe Price investment products	(12.5)	(225.1)
Dispositions of T. Rowe Price investment products	60.3	299.1
Net cash of T. Rowe Price investment products on deconsolidation	(27.3)	(0.8)
Additions to property and equipment	(58.8)	(46)
Other investing activity	7.5	0.4
Net cash (used in) provided by investing activities	(30.8)	27.6
Cash flows from financing activities
Repurchases of common stock	(259.2)	(891.3)
Common share issuances under stock-based compensation plans	20.9	38.1
Dividends paid to common stockholders of T. Rowe Price Group	(252.3)	(215.2)
Net subscriptions received from redeemable non-controlling interest holders	183.1	76.1
Net cash used in financing activities	(307.5)	(992.3)
Effect of exchange rate changes on cash and cash equivalents of consolidated T. Rowe Price investment products	0.9	(1.2)
Net change in cash and cash equivalents during period	657.3	(178.2)
Cash and cash equivalents at beginning of period	2,256.5	1,858.3
Cash and cash equivalents at ending of period	$ 2,913.8	$ 1,680.1

UNAUDITED CONDENSED CONSOLIDA_6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Cash and cash equivalents	$ 2,913.8	$ 2,256.5	$ 1,680.1	$ 1,858.3
Consolidated T. Rowe Price investment products
Cash and cash equivalents	$ 83.7	$ 104.8	$ 117.7	$ 76.5

UNAUDITED CONDENSED CONSOLIDA_7

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Total	Restricted stock units	Common stock	Common stockRestricted stock units	Additional capital in excess of par value	Additional capital in excess of par valueRestricted stock units	Retained earnings	AOCI	[1]
Beginning balance (in shares) at Dec. 31, 2019			235,214,000
Balances at beginning of period at Dec. 31, 2019	$ 7,102.1		$ 47		$ 654.6		$ 6,443.5	$ (43)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	343.1						343.1
Other comprehensive income (loss), net of tax	(6.1)							(6.1)
Dividends declared	(214.7)						(214.7)
Shares issued upon option exercises (in shares)			1,068,000
Shares issued upon option exercises	41.3		$ 0.2		41.1
Net shares issued upon vesting of restricted stock units (in shares)				37,000
Net shares issued upon vesting of restricted stock units		$ (3)				$ (3)
Stock-based compensation expense	58.3				58.3
Restricted stock units issued as dividend equivalents	0				0.1		(0.1)
Common shares repurchased (in shares)			(8,334,000)
Common shares repurchased	(887)		$ (1.6)		(96.5)		(788.9)
Ending balance (in shares) at Mar. 31, 2020			227,985,000
Balances at end of period at Mar. 31, 2020	6,434		$ 45.6		654.6		5,782.9	(49.1)
Beginning balances attributable to redeemable non-controlling interests at Dec. 31, 2019	1,121
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income (loss) attributable to redeemable non-controlling interests	(176.5)
Other comprehensive income (loss), net of tax, attributable to redeemable non-controlling interests	17.2
Net subscriptions into consolidated T. Rowe Price investment products	63.8
Net deconsolidations of T. Rowe Price investment products	(20.1)
Ending balances attributable to redeemable non-controlling interests at Mar. 31, 2020	971
Beginning balance (in shares) at Dec. 31, 2020			227,965,000
Balances at beginning of period at Dec. 31, 2020	7,707		$ 45.6		654.6		7,029.8	(23)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	749.4						749.4
Other comprehensive income (loss), net of tax	(7.5)							(7.5)
Dividends declared	$ (252.3)						(252.3)
Shares issued upon option exercises (in shares)	748,203		572,000
Shares issued upon option exercises	$ 25.4		$ 0.1		25.3
Net shares issued upon vesting of restricted stock units (in shares)				41,000
Net shares issued upon vesting of restricted stock units		$ (3.7)				$ (3.7)
Stock-based compensation expense	57.5				57.5
Restricted stock units issued as dividend equivalents					0.1		(0.1)
Common shares repurchased (in shares)			(1,630,000)
Common shares repurchased	(267.6)		$ (0.3)		(79.2)		(188.1)
Ending balance (in shares) at Mar. 31, 2021			226,948,000
Balances at end of period at Mar. 31, 2021	8,008.2		$ 45.4		$ 654.6		$ 7,338.7	$ (30.5)
Beginning balances attributable to redeemable non-controlling interests at Dec. 31, 2020	1,561.7
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income (loss) attributable to redeemable non-controlling interests	15.4
Other comprehensive income (loss), net of tax, attributable to redeemable non-controlling interests	11.8
Net subscriptions into consolidated T. Rowe Price investment products	187.5
Net deconsolidations of T. Rowe Price investment products	(739.9)
Ending balances attributable to redeemable non-controlling interests at Mar. 31, 2021	$ 1,012.9
[1]	Accumulated other comprehensive income.

UNAUDITED CONDENSED CONSOLIDA_8

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per share (in dollars per share)	$ 1.08	$ 0.90

THE COMPANY AND BASIS OF PREPAR

THE COMPANY AND BASIS OF PREPARATION.	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
THE COMPANY AND BASIS OF PREPARATION	THE COMPANY AND BASIS OF PREPARATION. T. Rowe Price Group Inc. derives its consolidated revenues and net income primarily from investment advisory services that its subsidiaries provide to individual and institutional investors in the T. Rowe Price U.S. mutual funds (“U.S. mutual funds”), subadvised funds, separately managed accounts, collective investment trusts, and other T. Rowe Price products. The other T. Rowe Price products include open-ended investment products offered to investors outside the U.S., and products offered through variable annuity life insurance plans in the U.S. We also provide certain investment advisory clients with related administrative services, including distribution, mutual fund transfer agent, accounting, and shareholder services; participant recordkeeping and transfer agent services for defined contribution retirement plans; brokerage; trust services; and non-discretionary advisory services through model delivery. 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 PRESENTATION. These unaudited condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States. These principles require the use of estimates and reflect all adjustments that are, in the opinion of management, necessary for 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. Certain prior year amounts have been reclassified to conform to the 2021 presentation. The unaudited interim financial information contained in these unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements contained in our 2020 Annual Report. NEWLY ISSUED BUT NOT YET ADOPTED ACCOUNTING GUIDANCE We have considered all newly issued accounting guidance that is applicable to our operations and the preparation of our unaudited condensed consolidated statements, including those we have not yet adopted. We do not believe that any such guidance has or will have a material effect on our financial position or results of operations.

INFORMATION ABOUT RECEIVABLES,

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES.	3 Months Ended
	Mar. 31, 2021
Information about Receivables, Revenues, and Services [Abstract]
INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES	INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. Revenues earned under agreements with clients include: Three months ended 3/31/2021 Three months ended 3/31/2020 Administrative, distribution, and servicing fees Administrative, distribution, and servicing fees (in millions) Investment advisory fees Administrative fees Distribution and servicing fees Net revenues Investment advisory fees Administrative fees Distribution and servicing fees Net revenues U.S. mutual funds $ 1,050.2 $ 78.7 $ 29.1 $ 1,158.0 $ 876.2 $ 77.2 $ 27.9 $ 981.3 Subadvised funds, separate accounts, collective investment trusts, and other investment products 637.6 — — 637.6 451.6 — — 451.6 Other clients (1) — 31.2 — 31.2 — 29.7 — 29.7 $ 1,687.8 $ 109.9 $ 29.1 $ 1,826.8 $ 1,327.8 $ 106.9 $ 27.9 $ 1,462.6 (1) Other clients primarily include individuals, defined contribution plans, college savings plans, and institutions related to model delivery. Total net revenues earned from our related parties, specifically T. Rowe Price investment products, aggregate $1,482.3 million and $1,207.7 million for the three months ended March 31, 2021 and 2020, respectively. Accounts receivable from these products aggregate to $540.0 million at March 31, 2021, and $523.4 million at December 31, 2020. In the second quarter of 2020, we changed our fee structure of the target date retirement funds such that our investment advisory fee revenue is now earned at the target date retirement fund level rather than at the underlying mutual fund level. As a result, we have modified our investment advisory fee and assets under management presentation below to separately breakout the fees earned and assets under management of our multi-asset portfolios. All prior periods have been recast to conform to this new presentation and to provide comparability. The following table details the investment advisory fees earned from clients by their underlying asset class. Three months ended (in millions) 3/31/2021 3/31/2020 U.S. mutual funds Equity $ 729.8 $ 568.4 Fixed income, including money market 59.0 71.7 Multi-asset 261.4 236.1 1,050.2 876.2 Subadvised funds, separate accounts, collective investment trusts, and other investment products Equity 429.8 279.5 Fixed income, including money market 31.7 38.0 Multi-asset 176.1 134.1 637.6 451.6 Total $ 1,687.8 $ 1,327.8 The following table summarizes the assets under management on which we earn investment advisory fees. Average during Three months ended As of (in billions) 3/31/2021 3/31/2020 3/31/2021 12/31/2020 U.S. mutual funds Equity $ 509.6 $ 388.3 $ 511.7 $ 498.6 Fixed income, including money market 82.3 75.7 82.6 79.4 Multi-asset 222.6 190.3 222.1 216.6 814.5 654.3 816.4 794.6 Subadvised funds, separate accounts, collective investment trusts, and other investment products Equity 418.9 277.5 405.5 397.2 Fixed income, including money market 80.2 81.3 90.2 89.3 Multi-asset 195.2 149.6 205.9 189.4 694.3 508.4 701.6 675.9 Total $ 1,508.8 $ 1,162.7 $ 1,518.0 $ 1,470.5

INVESTMENTS.

INVESTMENTS.	3 Months Ended
	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	INVESTMENTS. The carrying values of our investments that are not part of the consolidated T. Rowe Price investment products are as follows: (in millions) 3/31/2021 12/31/2020 Investments held at fair value T. Rowe Price investment products Discretionary investments $ 1,664.3 $ 1,647.7 Seed capital 269.5 169.5 Supplemental savings plan liability economic hedges 766.9 768.1 Investment partnerships and other investments 100.6 95.1 Equity method investments T. Rowe Price investment products Discretionary investments 245.8 242.9 Seed capital 203.7 178.6 23% investment in UTI Asset Management Company Limited (India) 149.1 145.5 Investment partnerships and other investments 2.7 2.4 U.S. Treasury note 1.0 1.0 Total $ 3,403.6 $ 3,250.8 The investment partnerships are carried at fair value using net asset value (“NAV”) per share as a practical expedient. Our interests in these partnerships are generally not redeemable and are subject to significant transferability restrictions. The underlying investments of these partnerships have contractual terms through 2029, though we may receive distributions of liquidating assets over a longer term. The investment strategies of these partnerships include growth equity, buyout, venture capital, and real estate. During the three months ended March 31, 2021, net gains on investments included $38.8 million of net unrealized gains related to investments held at fair value that were still held at March 31, 2021. For the same period of 2020, net losses on investments included $103.6 million of net unrealized losses related to investments held at fair value that were still held at March 31, 2020. During the three months ended March 31, 2021 and 2020, certain T. Rowe Price investment products in which we provided initial seed capital at the time of formation were deconsolidated, as we no longer had a controlling interest. Depending on our ownership interest, we are now reporting our residual interests in these T. Rowe Price investment products as either an equity method investment or an investment held at fair value. Additionally, during the three months ended March 31, 2020, certain T. Rowe Price investment products that were being accounted for as equity method investments were consolidated, as we regained a controlling interest. The net impact of these changes on our unaudited condensed consolidated balance sheets and statements of income as of the dates the portfolios were deconsolidated or reconsolidated is detailed below. Three months ended (in millions) 3/31/2021 3/31/2020 Net decrease in assets of consolidated T. Rowe Price investment products $ (928.1) $ (46.2) Net decrease in liabilities of consolidated T. Rowe Price investment products $ (15.3) $ (2.4) Net decrease in redeemable non-controlling interests $ (739.9) $ (20.1) Gains recognized upon deconsolidation $ 2.6 $ .1 The gains or losses recognized upon deconsolidation were the result of reclassifying currency translation adjustments accumulated on certain T. Rowe Price investment products with non-USD functional currencies from accumulated other comprehensive income to non-operating income. VARIABLE INTEREST ENTITIES. Our investments at March 31, 2021 and December 31, 2020, include interests in variable interest entities that we do not consolidate as we are not deemed the primary beneficiary. Our maximum risk of loss related to our involvement with these entities is as follows: (in millions) 3/31/2021 12/31/2020 Investment carrying values $ 289.6 $ 144.7 Unfunded capital commitments 11.3 12.3 Accounts receivable 60.7 13.8 $ 361.6 $ 170.8

FAIR VALUE MEASUREMENTS.

FAIR VALUE MEASUREMENTS.	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS. We determine the fair value of our cash equivalents and investments held at fair value using the following 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 our investments. The following table summarizes our investments that are recognized in our unaudited condensed consolidated balance sheets using fair value measurements determined based on the differing levels of inputs. This table excludes investments held by the consolidated T. Rowe Price investment products which are presented separately on our unaudited condensed consolidated balance sheets and are detailed in Note 5. 3/31/2021 12/31/2020 (in millions) Level 1 Level 2 Level 1 Level 2 T. Rowe Price investment products Cash equivalents held in money market funds 2,487.5 $ — $ 1,931.1 $ — Discretionary investments 1,664.3 — 1,647.7 — Seed capital 254.6 14.9 156.6 12.9 Supplemental savings plan liability economic hedges 766.9 768.1 — Other investments .2 .7 .5 .6 Total $ 5,173.5 $ 15.6 $ 4,504.0 $ 13.5 The fair value hierarchy level table above does not include the investment partnerships and other investments for which fair value is estimated using their NAV per share as a practical expedient. The carrying value of these investments as disclosed in Note 3 were $99.7 million at March 31, 2021, and $94.0 million at December 31, 2020.

CONSOLIDATED T. ROWE PRICE INVE

CONSOLIDATED T. ROWE PRICE INVESTMENT PRODUCTS.	3 Months Ended
	Mar. 31, 2021
Consolidated Sponsored Investment Portfolios [Abstract]
CONSOLIDATED T. ROWE PRICE INVESTMENT PRODUCTS	CONSOLIDATED T. ROWE PRICE INVESTMENT PRODUCTS.The T. Rowe Price investment products that we consolidate in our unaudited condensed consolidated financial statements are generally those products we provided initial seed capital at the time of their formation and have a controlling interest. Our U.S. mutual funds are considered voting interest entities, while those regulated outside the U.S. are considered variable interest entities. The following table details the net assets of the consolidated T. Rowe Price investment products: 3/31/2021 12/31/2020 (in millions) Voting Variable interest entities Total Voting Variable interest entities Total Cash and cash equivalents (1) $ 3.0 $ 80.7 $ 83.7 $ 7.1 $ 97.7 $ 104.8 Investments (2) 157.5 1,664.5 1,822.0 188.2 2,372.7 2,560.9 Other assets 3.4 37.7 41.1 2.8 27.0 29.8 Total assets 163.9 1,782.9 1,946.8 198.1 2,497.4 2,695.5 Liabilities 4.7 49.0 53.7 10.0 47.7 57.7 Net assets $ 159.2 $ 1,733.9 $ 1,893.1 $ 188.1 $ 2,449.7 $ 2,637.8 Attributable to T. Rowe Price Group $ 96.4 $ 783.8 $ 880.2 $ 130.7 $ 945.4 $ 1,076.1 Attributable to redeemable non-controlling interests 62.8 950.1 1,012.9 57.4 1,504.3 1,561.7 $ 159.2 $ 1,733.9 $ 1,893.1 $ 188.1 $ 2,449.7 $ 2,637.8 (1) Cash and cash equivalents includes $2.8 million at March 31, 2021, and $7.0 million at December 31, 2020, of T. Rowe Price money market mutual funds. (2) Investments include $24.4 million at March 31, 2021, and $26.9 million at December 31, 2020 of other T. Rowe Price investment products. Although we can redeem our net interest in these consolidated T. Rowe Price investment products at any time, we cannot directly access or sell the assets held by these products to obtain cash for general operations. Additionally, the assets of these investment products are not available to our general creditors. Since third party investors in these investment products have no recourse to our credit, our overall risk related to the net assets of consolidated T. Rowe Price investment products is limited to valuation changes associated with our net interest. We, however, are required to recognize the valuation changes associated with all underlying investments held by these products in our unaudited condensed consolidated statements of income and disclose the portion attributable to third party investors as net income attributable to redeemable non-controlling interests. The operating results of the consolidated T. Rowe Price investment products for the three months ended March 31, 2021 and 2020, are reflected in our unaudited condensed consolidated statements of income as follows: Three months ended 3/31/2021 3/31/2020 (in millions) Voting interest entities Variable interest entities Total Voting interest entities Variable interest entities Total Operating expenses reflected in net operating income $ (.2) $ (3.3) $ (3.5) $ (.2) $ (3.5) $ (3.7) Net investment income (loss) reflected in non-operating income (loss) 6.1 31.1 37.2 (35.2) (295.1) (330.3) Impact on income before taxes $ 5.9 $ 27.8 $ 33.7 $ (35.4) $ (298.6) $ (334.0) Net income (loss) attributable to T. Rowe Price Group $ 4.0 $ 14.3 $ 18.3 $ (22.6) $ (134.9) $ (157.5) Net income (loss) attributable to redeemable non-controlling interests 1.9 13.5 15.4 (12.8) (163.7) (176.5) $ 5.9 $ 27.8 $ 33.7 $ (35.4) $ (298.6) $ (334.0) The operating expenses of the consolidated investment products are reflected in other operating expenses. In preparing our unaudited condensed consolidated financial statements, we eliminated operating expenses of $1.3 million and $2.5 million for the three months ended March 31, 2021 and 2020, respectively, against the investment advisory and administrative fees earned from these products. The net investment income (loss) reflected in non- operating income (loss) includes dividend and interest income and realized and unrealized gains and losses on the underlying securities held by the consolidated T. Rowe Price investment products. The table below details the impact of these consolidated investment products on the individual lines of our unaudited condensed consolidated statements of cash flows for the three months ended March 31, 2021 and 2020. Three months ended 3/31/2021 3/31/2020 (in millions) Voting interest entities Variable interest entities Total Voting Variable interest entities Total Net cash provided by (used in) operating activities $ (31.7) $ (112.0) $ (143.7) $ 11.3 $ (87.0) $ (75.7) Net cash used in investing activities (9.1) (18.2) (27.3) (.8) — (.8) Net cash provided by financing activities 36.7 112.3 149.0 2.7 116.2 118.9 Effect of exchange rate changes on cash and cash equivalents of consolidated T. Rowe Price investment products — .9 .9 — (1.2) (1.2) Net change in cash and cash equivalents during period (4.1) (17.0) (21.1) 13.2 28.0 41.2 Cash and cash equivalents at beginning of year 7.1 97.7 104.8 9.9 66.6 76.5 Cash and cash equivalents at end of period $ 3.0 $ 80.7 $ 83.7 $ 23.1 $ 94.6 $ 117.7 The net cash provided by financing activities during the three months ended March 31, 2021 and 2020 includes $34.1 million and $42.8 million, respectively, of net subscriptions we made into the consolidated T. Rowe Price investment products, net of dividends received. These cash flows were eliminated in consolidation. FAIR VALUE MEASUREMENTS. We determine the fair value of investments held by consolidated T. Rowe Price investment products using the following 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. The value of investments using Level 3 inputs is insignificant. These levels are not necessarily an indication of the risk or liquidity associated with these investment holdings. The following table summarizes the investment holdings held by our consolidated T. Rowe Price investment products using fair value measurements determined based on the differing levels of inputs. 3/31/2021 12/31/2020 (in millions) Level 1 Level 2 Level 1 Level 2 Assets Cash equivalents $ 2.8 $ — $ 7.0 $ — Equity securities 225.7 449.9 308.0 708.0 Fixed income securities — 1,107.2 — 1,411.3 Other investments 4.0 35.2 2.6 131.0 $ 232.5 $ 1,592.3 $ 317.6 $ 2,250.3 Liabilities $ (.4) $ (9.9) $ (.4) $ (18.8)

STOCKHOLDERS' EQUITY.

STOCKHOLDERS' EQUITY.	3 Months Ended
	Mar. 31, 2021
Stockholders' Equity Note [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY.Accounts payable and accrued expenses includes liabilities of $10.9 million at March 31, 2021, and $2.5 million at December 31, 2020, for common stock repurchases that settled during the first week of April 2021 and January 2021, respectively.

STOCK-BASED COMPENSATION.

STOCK-BASED COMPENSATION.	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION. STOCK OPTIONS. The following table summarizes the status of, and changes in, our stock options during the three months ended March 31, 2021. Options Weighted- average exercise price Outstanding at December 31, 2020 4,329,056 $ 72.52 Exercised (748,203) $ 72.28 Outstanding at March 31, 2021 3,580,853 $ 72.57 Exercisable at March 31, 2021 3,580,853 $ 72.57 RESTRICTED SHARES AND STOCK UNITS. The following table summarizes the status of, and changes in, our nonvested restricted shares and restricted stock units during the three months ended March 31, 2021. Restricted shares Restricted stock units Weighted-average fair value Nonvested at December 31, 2020 7,412 6,367,059 $ 116.51 Time-based grants — 3,397 $ 154.03 Dividend equivalents granted to non-employee directors — 550 $ 172.22 Vested — (64,942) $ 97.37 Forfeited — (19,489) $ 114.66 Nonvested at March 31, 2021 7,412 6,286,575 $ 116.73 Nonvested at March 31, 2021, includes performance-based restricted stock units of 361,609. These nonvested performance-based restricted stock units include 198,205 units for which the performance period has lapsed, and the performance threshold has been met. FUTURE STOCK-BASED COMPENSATION EXPENSE. The following table presents the compensation expense to be recognized over the remaining vesting periods of the stock-based awards outstanding at March 31, 2021. Estimated future compensation expense will change to reflect future grants of restricted stock awards and units, future option grants, changes in the probability of performance thresholds being met, and adjustments for actual forfeitures. (in millions) Second quarter 2021 $ 56.9 Third quarter 2021 56.7 Fourth quarter 2021 50.2 2022 117.4 2023 through 2026 97.2 Total $ 378.4

EARNINGS PER SHARE CALCULATIONS

EARNINGS PER SHARE CALCULATIONS.	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHARE CALCULATIONS	EARNINGS PER SHARE CALCULATIONS. The following table presents the reconciliation of net income attributable to T. Rowe Price Group to net income allocated to our common stockholders and the weighted-average shares that are used in calculating the basic and diluted earnings per share on our common stock. Weighted-average common shares outstanding assuming dilution reflects the potential dilution, determined using the treasury stock method, that could occur if outstanding stock options were exercised and non-participating stock awards vested. No outstanding stock options had an anti-dilutive impact on the diluted earnings per common share calculation in the periods presented. Three months ended (in millions) 3/31/2021 3/31/2020 Net income attributable to T. Rowe Price Group 749.4 $ 343.1 Less: net income allocated to outstanding restricted stock and stock unit holders 19.9 9.4 Net income allocated to common stockholders $ 729.5 $ 333.7 Weighted-average common shares Outstanding 227.7 234.1 Outstanding assuming dilution 230.0 236.8

OTHER COMPREHENSIVE INCOME AND

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS.	3 Months Ended
	Mar. 31, 2021
Stockholders' Equity Note [Abstract]
OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS	OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS. The changes in each component of accumulated other comprehensive loss, including reclassification adjustments for the three months ended March 31, 2021 and 2020 are presented in the table below. Three months ended 3/31/2021 Three months ended 3/31/2020 (in millions) Equity method investments Consolidated T. Rowe Price investment products - variable interest entities Total currency translation adjustments Equity method investments Consolidated T. Rowe Price investment products - variable interest entities Total currency translation adjustments Balances at beginning of period $ (43.6) $ 20.6 $ (23.0) $ (46.9) $ 3.9 $ (43.0) Other comprehensive income (loss) before reclassifications and income taxes (.8) (7.1) (7.9) (.1) (7.9) (8.0) Reclassification adjustments recognized in non-operating income — (2.6) (2.6) — (.1) (.1) (.8) (9.7) (10.5) (.1) (8.0) (8.1) Net deferred tax benefits (income taxes) .5 2.5 3.0 — 2.0 2.0 Other comprehensive income (loss) (.3) (7.2) (7.5) (.1) (6.0) (6.1) Balances at end of period $ (43.9) $ 13.4 $ (30.5) $ (47.0) $ (2.1) $ (49.1) The other comprehensive income (loss) in the table above excludes $11.8 million and $17.2 million of other comprehensive loss related to redeemable non-controlling interests held in our consolidated products for the three months ended March 31, 2021 and 2020, respectively.

COMMITMENTS AND CONTINGENCIES.

COMMITMENTS AND CONTINGENCIES.	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES. On February 14, 2017, T. Rowe Price Group, Inc., T. Rowe Price Associates, Inc., T. Rowe Price Trust Company, current and former members of the management committee, and trustees of the T. Rowe Price U.S. Retirement Program were named as defendants in a lawsuit filed in the United States District Court for the District of Maryland. The lawsuit alleges breaches of ERISA’s fiduciary duty and prohibited transaction provisions on behalf of a class of all participants and beneficiaries of the T. Rowe Price 401(k) Plan from February 14, 2011, to the time of judgment. The matter has been certified as a class action. T. Rowe Price believes the claims are without merit and is vigorously defending the action. The parties each filed motions for summary judgment and, with the exception of one claim, the court has denied the parties’ cross motions for summary judgment. A trial has been scheduled to begin in September 2021. We cannot predict the eventual outcome, or whether it will have a material negative impact on our financial results, or estimate the possible loss or range of loss that may arise from any negative outcome. In addition to the matter discussed above, various claims against us arise in the ordinary course of business, including employment-related claims. In the opinion of management, after consultation with counsel, the likelihood of an adverse determination in one or more of these pending ordinary course of business claims that would have a material adverse effect on our financial position or results of operations is remote.

THE COMPANY AND BASIS OF PREP_2

THE COMPANY AND BASIS OF PREPARATION. (Policies)	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New Accounting Guidance and Newly Issued But Not Yet Adopted Accounting Guidance	NEWLY ISSUED BUT NOT YET ADOPTED ACCOUNTING GUIDANCE We have considered all newly issued accounting guidance that is applicable to our operations and the preparation of our unaudited condensed consolidated statements, including those we have not yet adopted. We do not believe that any such guidance has or will have a material effect on our financial position or results of operations.

INFORMATION ABOUT RECEIVABLES_2

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Tables)	3 Months Ended
	Mar. 31, 2021
Information about Receivables, Revenues, and Services [Abstract]
Components of revenues from advisory services	Revenues earned under agreements with clients include: Three months ended 3/31/2021 Three months ended 3/31/2020 Administrative, distribution, and servicing fees Administrative, distribution, and servicing fees (in millions) Investment advisory fees Administrative fees Distribution and servicing fees Net revenues Investment advisory fees Administrative fees Distribution and servicing fees Net revenues U.S. mutual funds $ 1,050.2 $ 78.7 $ 29.1 $ 1,158.0 $ 876.2 $ 77.2 $ 27.9 $ 981.3 Subadvised funds, separate accounts, collective investment trusts, and other investment products 637.6 — — 637.6 451.6 — — 451.6 Other clients (1) — 31.2 — 31.2 — 29.7 — 29.7 $ 1,687.8 $ 109.9 $ 29.1 $ 1,826.8 $ 1,327.8 $ 106.9 $ 27.9 $ 1,462.6 (1) Other clients primarily include individuals, defined contribution plans, college savings plans, and institutions related to model delivery. The following table details the investment advisory fees earned from clients by their underlying asset class. Three months ended (in millions) 3/31/2021 3/31/2020 U.S. mutual funds Equity $ 729.8 $ 568.4 Fixed income, including money market 59.0 71.7 Multi-asset 261.4 236.1 1,050.2 876.2 Subadvised funds, separate accounts, collective investment trusts, and other investment products Equity 429.8 279.5 Fixed income, including money market 31.7 38.0 Multi-asset 176.1 134.1 637.6 451.6 Total $ 1,687.8 $ 1,327.8
Components of assets under management	The following table summarizes the assets under management on which we earn investment advisory fees. Average during Three months ended As of (in billions) 3/31/2021 3/31/2020 3/31/2021 12/31/2020 U.S. mutual funds Equity $ 509.6 $ 388.3 $ 511.7 $ 498.6 Fixed income, including money market 82.3 75.7 82.6 79.4 Multi-asset 222.6 190.3 222.1 216.6 814.5 654.3 816.4 794.6 Subadvised funds, separate accounts, collective investment trusts, and other investment products Equity 418.9 277.5 405.5 397.2 Fixed income, including money market 80.2 81.3 90.2 89.3 Multi-asset 195.2 149.6 205.9 189.4 694.3 508.4 701.6 675.9 Total $ 1,508.8 $ 1,162.7 $ 1,518.0 $ 1,470.5

INVESTMENTS. (Tables)

INVESTMENTS. (Tables)	3 Months Ended
	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Unconsolidated investments	The carrying values of our investments that are not part of the consolidated T. Rowe Price investment products are as follows: (in millions) 3/31/2021 12/31/2020 Investments held at fair value T. Rowe Price investment products Discretionary investments $ 1,664.3 $ 1,647.7 Seed capital 269.5 169.5 Supplemental savings plan liability economic hedges 766.9 768.1 Investment partnerships and other investments 100.6 95.1 Equity method investments T. Rowe Price investment products Discretionary investments 245.8 242.9 Seed capital 203.7 178.6 23% investment in UTI Asset Management Company Limited (India) 149.1 145.5 Investment partnerships and other investments 2.7 2.4 U.S. Treasury note 1.0 1.0 Total $ 3,403.6 $ 3,250.8
Net impact of deconsolidation and consolidation on condensed consolidated balance sheets and income statements	The net impact of these changes on our unaudited condensed consolidated balance sheets and statements of income as of the dates the portfolios were deconsolidated or reconsolidated is detailed below. Three months ended (in millions) 3/31/2021 3/31/2020 Net decrease in assets of consolidated T. Rowe Price investment products $ (928.1) $ (46.2) Net decrease in liabilities of consolidated T. Rowe Price investment products $ (15.3) $ (2.4) Net decrease in redeemable non-controlling interests $ (739.9) $ (20.1) Gains recognized upon deconsolidation $ 2.6 $ .1
Maximum risk of loss related to investments in variable interest entities	Our investments at March 31, 2021 and December 31, 2020, include interests in variable interest entities that we do not consolidate as we are not deemed the primary beneficiary. Our maximum risk of loss related to our involvement with these entities is as follows: (in millions) 3/31/2021 12/31/2020 Investment carrying values $ 289.6 $ 144.7 Unfunded capital commitments 11.3 12.3 Accounts receivable 60.7 13.8 $ 361.6 $ 170.8

FAIR VALUE MEASUREMENTS. (Table

FAIR VALUE MEASUREMENTS. (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair value measurements summary	The following table summarizes our investments that are recognized in our unaudited condensed consolidated balance sheets using fair value measurements determined based on the differing levels of inputs. This table excludes investments held by the consolidated T. Rowe Price investment products which are presented separately on our unaudited condensed consolidated balance sheets and are detailed in Note 5. 3/31/2021 12/31/2020 (in millions) Level 1 Level 2 Level 1 Level 2 T. Rowe Price investment products Cash equivalents held in money market funds 2,487.5 $ — $ 1,931.1 $ — Discretionary investments 1,664.3 — 1,647.7 — Seed capital 254.6 14.9 156.6 12.9 Supplemental savings plan liability economic hedges 766.9 768.1 — Other investments .2 .7 .5 .6 Total $ 5,173.5 $ 15.6 $ 4,504.0 $ 13.5

CONSOLIDATED T. ROWE PRICE IN_2

CONSOLIDATED T. ROWE PRICE INVESTMENT PRODUCTS. (Tables)	3 Months Ended
	Mar. 31, 2021
Consolidated Sponsored Investment Portfolios [Abstract]
Net assets of consolidated sponsored investment portfolios	The following table details the net assets of the consolidated T. Rowe Price investment products: 3/31/2021 12/31/2020 (in millions) Voting Variable interest entities Total Voting Variable interest entities Total Cash and cash equivalents (1) $ 3.0 $ 80.7 $ 83.7 $ 7.1 $ 97.7 $ 104.8 Investments (2) 157.5 1,664.5 1,822.0 188.2 2,372.7 2,560.9 Other assets 3.4 37.7 41.1 2.8 27.0 29.8 Total assets 163.9 1,782.9 1,946.8 198.1 2,497.4 2,695.5 Liabilities 4.7 49.0 53.7 10.0 47.7 57.7 Net assets $ 159.2 $ 1,733.9 $ 1,893.1 $ 188.1 $ 2,449.7 $ 2,637.8 Attributable to T. Rowe Price Group $ 96.4 $ 783.8 $ 880.2 $ 130.7 $ 945.4 $ 1,076.1 Attributable to redeemable non-controlling interests 62.8 950.1 1,012.9 57.4 1,504.3 1,561.7 $ 159.2 $ 1,733.9 $ 1,893.1 $ 188.1 $ 2,449.7 $ 2,637.8 (1) Cash and cash equivalents includes $2.8 million at March 31, 2021, and $7.0 million at December 31, 2020, of T. Rowe Price money market mutual funds. (2) Investments include $24.4 million at March 31, 2021, and $26.9 million at December 31, 2020 of other T. Rowe Price investment products.
Operating results of consolidated sponsored investment portfolios	The operating results of the consolidated T. Rowe Price investment products for the three months ended March 31, 2021 and 2020, are reflected in our unaudited condensed consolidated statements of income as follows: Three months ended 3/31/2021 3/31/2020 (in millions) Voting interest entities Variable interest entities Total Voting interest entities Variable interest entities Total Operating expenses reflected in net operating income $ (.2) $ (3.3) $ (3.5) $ (.2) $ (3.5) $ (3.7) Net investment income (loss) reflected in non-operating income (loss) 6.1 31.1 37.2 (35.2) (295.1) (330.3) Impact on income before taxes $ 5.9 $ 27.8 $ 33.7 $ (35.4) $ (298.6) $ (334.0) Net income (loss) attributable to T. Rowe Price Group $ 4.0 $ 14.3 $ 18.3 $ (22.6) $ (134.9) $ (157.5) Net income (loss) attributable to redeemable non-controlling interests 1.9 13.5 15.4 (12.8) (163.7) (176.5) $ 5.9 $ 27.8 $ 33.7 $ (35.4) $ (298.6) $ (334.0)
Cash flows of consolidated sponsored investment portfolios	The table below details the impact of these consolidated investment products on the individual lines of our unaudited condensed consolidated statements of cash flows for the three months ended March 31, 2021 and 2020. Three months ended 3/31/2021 3/31/2020 (in millions) Voting interest entities Variable interest entities Total Voting Variable interest entities Total Net cash provided by (used in) operating activities $ (31.7) $ (112.0) $ (143.7) $ 11.3 $ (87.0) $ (75.7) Net cash used in investing activities (9.1) (18.2) (27.3) (.8) — (.8) Net cash provided by financing activities 36.7 112.3 149.0 2.7 116.2 118.9 Effect of exchange rate changes on cash and cash equivalents of consolidated T. Rowe Price investment products — .9 .9 — (1.2) (1.2) Net change in cash and cash equivalents during period (4.1) (17.0) (21.1) 13.2 28.0 41.2 Cash and cash equivalents at beginning of year 7.1 97.7 104.8 9.9 66.6 76.5 Cash and cash equivalents at end of period $ 3.0 $ 80.7 $ 83.7 $ 23.1 $ 94.6 $ 117.7
Fair values of investments held by consolidated sponsored investment portfolios	The following table summarizes the investment holdings held by our consolidated T. Rowe Price investment products using fair value measurements determined based on the differing levels of inputs. 3/31/2021 12/31/2020 (in millions) Level 1 Level 2 Level 1 Level 2 Assets Cash equivalents $ 2.8 $ — $ 7.0 $ — Equity securities 225.7 449.9 308.0 708.0 Fixed income securities — 1,107.2 — 1,411.3 Other investments 4.0 35.2 2.6 131.0 $ 232.5 $ 1,592.3 $ 317.6 $ 2,250.3 Liabilities $ (.4) $ (9.9) $ (.4) $ (18.8)

STOCK-BASED COMPENSATION. (Tabl

STOCK-BASED COMPENSATION. (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Rollforward of stock options	The following table summarizes the status of, and changes in, our stock options during the three months ended March 31, 2021. Options Weighted- average exercise price Outstanding at December 31, 2020 4,329,056 $ 72.52 Exercised (748,203) $ 72.28 Outstanding at March 31, 2021 3,580,853 $ 72.57 Exercisable at March 31, 2021 3,580,853 $ 72.57
Rollforward of nonvested restricted shares and restricted stock units	The following table summarizes the status of, and changes in, our nonvested restricted shares and restricted stock units during the three months ended March 31, 2021. Restricted shares Restricted stock units Weighted-average fair value Nonvested at December 31, 2020 7,412 6,367,059 $ 116.51 Time-based grants — 3,397 $ 154.03 Dividend equivalents granted to non-employee directors — 550 $ 172.22 Vested — (64,942) $ 97.37 Forfeited — (19,489) $ 114.66 Nonvested at March 31, 2021 7,412 6,286,575 $ 116.73
Future stock-based compensation expense	The following table presents the compensation expense to be recognized over the remaining vesting periods of the stock-based awards outstanding at March 31, 2021. Estimated future compensation expense will change to reflect future grants of restricted stock awards and units, future option grants, changes in the probability of performance thresholds being met, and adjustments for actual forfeitures. (in millions) Second quarter 2021 $ 56.9 Third quarter 2021 56.7 Fourth quarter 2021 50.2 2022 117.4 2023 through 2026 97.2 Total $ 378.4

EARNINGS PER SHARE CALCULATIO_2

EARNINGS PER SHARE CALCULATIONS. (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Earnings per share reconciliation	The following table presents the reconciliation of net income attributable to T. Rowe Price Group to net income allocated to our common stockholders and the weighted-average shares that are used in calculating the basic and diluted earnings per share on our common stock. Weighted-average common shares outstanding assuming dilution reflects the potential dilution, determined using the treasury stock method, that could occur if outstanding stock options were exercised and non-participating stock awards vested. No outstanding stock options had an anti-dilutive impact on the diluted earnings per common share calculation in the periods presented. Three months ended (in millions) 3/31/2021 3/31/2020 Net income attributable to T. Rowe Price Group 749.4 $ 343.1 Less: net income allocated to outstanding restricted stock and stock unit holders 19.9 9.4 Net income allocated to common stockholders $ 729.5 $ 333.7 Weighted-average common shares Outstanding 227.7 234.1 Outstanding assuming dilution 230.0 236.8

OTHER COMPREHENSIVE INCOME AN_2

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS. (Tables)	3 Months Ended
	Mar. 31, 2021
Stockholders' Equity Note [Abstract]
Changes in accumulated other comprehensive loss	The changes in each component of accumulated other comprehensive loss, including reclassification adjustments for the three months ended March 31, 2021 and 2020 are presented in the table below. Three months ended 3/31/2021 Three months ended 3/31/2020 (in millions) Equity method investments Consolidated T. Rowe Price investment products - variable interest entities Total currency translation adjustments Equity method investments Consolidated T. Rowe Price investment products - variable interest entities Total currency translation adjustments Balances at beginning of period $ (43.6) $ 20.6 $ (23.0) $ (46.9) $ 3.9 $ (43.0) Other comprehensive income (loss) before reclassifications and income taxes (.8) (7.1) (7.9) (.1) (7.9) (8.0) Reclassification adjustments recognized in non-operating income — (2.6) (2.6) — (.1) (.1) (.8) (9.7) (10.5) (.1) (8.0) (8.1) Net deferred tax benefits (income taxes) .5 2.5 3.0 — 2.0 2.0 Other comprehensive income (loss) (.3) (7.2) (7.5) (.1) (6.0) (6.1) Balances at end of period $ (43.9) $ 13.4 $ (30.5) $ (47.0) $ (2.1) $ (49.1)

INFORMATION ABOUT RECEIVABLES_3

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Investment Advisory Services) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Revenue and Services [Line Items]
Net revenues	$ 1,826.8	$ 1,462.6
Average assets under management	1,508,800	1,162,700
Period end assets under management	1,518,000		$ 1,470,500
U.S. mutual funds
Revenue and Services [Line Items]
Net revenues	1,158	981.3
Average assets under management	814,500	654,300
Period end assets under management	816,400		794,600
U.S. mutual funds | Equity
Revenue and Services [Line Items]
Average assets under management	509,600	388,300
Period end assets under management	511,700		498,600
U.S. mutual funds | Fixed income, including money market
Revenue and Services [Line Items]
Average assets under management	82,300	75,700
Period end assets under management	82,600		79,400
U.S. mutual funds | Multi-asset
Revenue and Services [Line Items]
Average assets under management	222,600	190,300
Period end assets under management	222,100		216,600
Subadvised funds, separate accounts, collective investment trusts, and other investment products
Revenue and Services [Line Items]
Net revenues	637.6	451.6
Average assets under management	694,300	508,400
Period end assets under management	701,600		675,900
Subadvised funds, separate accounts, collective investment trusts, and other investment products | Equity
Revenue and Services [Line Items]
Average assets under management	418,900	277,500
Period end assets under management	405,500		397,200
Subadvised funds, separate accounts, collective investment trusts, and other investment products | Fixed income, including money market
Revenue and Services [Line Items]
Average assets under management	80,200	81,300
Period end assets under management	90,200		89,300
Subadvised funds, separate accounts, collective investment trusts, and other investment products | Multi-asset
Revenue and Services [Line Items]
Average assets under management	195,200	149,600
Period end assets under management	205,900		$ 189,400
Other clients
Revenue and Services [Line Items]
Net revenues	31.2	29.7
Investment advisory fees
Revenue and Services [Line Items]
Net revenues	1,687.8	1,327.8
Investment advisory fees | U.S. mutual funds
Revenue and Services [Line Items]
Net revenues	1,050.2	876.2
Investment advisory fees | U.S. mutual funds | Equity
Revenue and Services [Line Items]
Net revenues	729.8	568.4
Investment advisory fees | U.S. mutual funds | Fixed income, including money market
Revenue and Services [Line Items]
Net revenues	59	71.7
Investment advisory fees | U.S. mutual funds | Multi-asset
Revenue and Services [Line Items]
Net revenues	261.4	236.1
Investment advisory fees | Subadvised funds, separate accounts, collective investment trusts, and other investment products
Revenue and Services [Line Items]
Net revenues	637.6	451.6
Investment advisory fees | Subadvised funds, separate accounts, collective investment trusts, and other investment products | Equity
Revenue and Services [Line Items]
Net revenues	429.8	279.5
Investment advisory fees | Subadvised funds, separate accounts, collective investment trusts, and other investment products | Fixed income, including money market
Revenue and Services [Line Items]
Net revenues	31.7	38
Investment advisory fees | Subadvised funds, separate accounts, collective investment trusts, and other investment products | Multi-asset
Revenue and Services [Line Items]
Net revenues	176.1	134.1
Investment advisory fees | Other clients
Revenue and Services [Line Items]
Net revenues	0	0
Administrative fees
Revenue and Services [Line Items]
Net revenues	109.9	106.9
Administrative fees | U.S. mutual funds
Revenue and Services [Line Items]
Net revenues	78.7	77.2
Administrative fees | Subadvised funds, separate accounts, collective investment trusts, and other investment products
Revenue and Services [Line Items]
Net revenues	0	0
Administrative fees | Other clients
Revenue and Services [Line Items]
Net revenues	31.2	29.7
Distribution and servicing fees
Revenue and Services [Line Items]
Net revenues	29.1	27.9
Distribution and servicing fees | U.S. mutual funds
Revenue and Services [Line Items]
Net revenues	29.1	27.9
Distribution and servicing fees | Subadvised funds, separate accounts, collective investment trusts, and other investment products
Revenue and Services [Line Items]
Net revenues	0	0
Distribution and servicing fees | Other clients
Revenue and Services [Line Items]
Net revenues	$ 0	$ 0

INFORMATION ABOUT RECEIVABLES_4

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Services Concentration and Receivables) (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Concentration Risk [Line Items]
Net revenues	$ 1,826.8	$ 1,462.6
Accounts receivable	885.9		$ 863.1
T. Rowe Price investment products
Concentration Risk [Line Items]
Net revenues	1,482.3	$ 1,207.7
Accounts receivable	$ 540		$ 523.4
Outside U.S. | Assets under management | Investment advisory clients | Geographic concentration
Concentration Risk [Line Items]
Concentration risk, percentage	8.80%		9.30%

INVESTMENTS. (Investments) (Det

INVESTMENTS. (Investments) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
U.S. Treasury note	$ 1		$ 1
Total	3,403.6		3,250.8
Net unrealized gains (losses) on T. Rowe Price investments product recognized in nonoperating income	38.8	$ (103.6)
Gains recognized upon deconsolidation	102.1	(500.3)
Reclassification out of accumulated other comprehensive income | Currency translation adjustments
Schedule of Equity Method Investments [Line Items]
Gains recognized upon deconsolidation	2.6	0.1
Assets
Schedule of Equity Method Investments [Line Items]
Net increase (decrease) in assets, liabilities, and redeemable noncontrolling interest	(928.1)	(46.2)
Liability
Schedule of Equity Method Investments [Line Items]
Net increase (decrease) in assets, liabilities, and redeemable noncontrolling interest	(15.3)	(2.4)
Redeemable noncontrolling interest
Schedule of Equity Method Investments [Line Items]
Net increase (decrease) in assets, liabilities, and redeemable noncontrolling interest	(739.9)	$ (20.1)
Discretionary investments
Schedule of Equity Method Investments [Line Items]
Investments held at fair value	1,664.3		1,647.7
Equity method investments	245.8		242.9
Seed capital
Schedule of Equity Method Investments [Line Items]
Investments held at fair value	269.5		169.5
Equity method investments	203.7		178.6
Supplemental savings plan liability economic hedges
Schedule of Equity Method Investments [Line Items]
Investments held at fair value	766.9		768.1
Investment partnerships and other investments
Schedule of Equity Method Investments [Line Items]
Investments held at fair value	100.6		95.1
23% investment in UTI Asset Management Company Limited (India)
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 149.1		$ 145.5
Equity method investment (ownership percentage)	23.00%		23.00%
Investment partnerships and other investments
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 2.7		$ 2.4

INVESTMENTS. (Variable Interest

INVESTMENTS. (Variable Interest Entities) (Details) - Variable interest entity, not primary beneficiary - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Investment carrying values	$ 289.6	$ 144.7
Unfunded capital commitments	11.3	12.3
Accounts receivable	60.7	13.8
Maximum risk of loss related to nonconsolidated variable interest entities	$ 361.6	$ 170.8

FAIR VALUE MEASUREMENTS. (Detai

FAIR VALUE MEASUREMENTS. (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 5,173.5		$ 4,504
Level 1 | Fair value, measurements, recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents held in money market funds	2,487.5	$ 1,931.1
Other investments	0.2	0.5
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	15.6		$ 13.5
Level 2 | Fair value, measurements, recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	0.7	0.6
Fair value measured at NAV
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products and other investments	99.7	94
Discretionary investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products and other investments	1,664.3	1,647.7
Discretionary investments | Level 1 | Fair value, measurements, recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products and other investments	1,664.3	1,647.7
Seed capital
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products and other investments	269.5	169.5
Seed capital | Level 1 | Fair value, measurements, recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products and other investments	254.6	156.6
Seed capital | Level 2 | Fair value, measurements, recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products and other investments	14.9	12.9
Supplemental savings plan liability economic hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products and other investments	766.9	768.1
Supplemental savings plan liability economic hedges | Level 1 | Fair value, measurements, recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products and other investments	$ 766.9	$ 768.1

CONSOLIDATED T. ROWE PRICE IN_3

CONSOLIDATED T. ROWE PRICE INVESTMENT PRODUCTS. (Net Assets) (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	$ 2,830.1	$ 2,151.7
Investments	3,403.6	3,250.8
Other assets	218.2	219.2
Total assets	10,764.4	10,659
Liabilities	1,743.3	1,390.3
Attributable to redeemable non-controlling interests	1,012.9	1,561.7	$ 971	$ 1,121
Consolidated T. Rowe Price investment products
Condensed Balance Sheet Statements, Captions [Line Items]
Net assets	1,893.1	2,637.8
Attributable to T. Rowe Price Group	880.2	1,076.1
Attributable to redeemable non-controlling interests	1,012.9	1,561.7
Voting interest entities
Condensed Balance Sheet Statements, Captions [Line Items]
Net assets	159.2	188.1
Attributable to T. Rowe Price Group	96.4	130.7
Attributable to redeemable non-controlling interests	62.8	57.4
Variable interest entities
Condensed Balance Sheet Statements, Captions [Line Items]
Net assets	1,733.9	2,449.7
Attributable to T. Rowe Price Group	783.8	945.4
Attributable to redeemable non-controlling interests	950.1	1,504.3
Reportable entities | Consolidated T. Rowe Price investment products
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	83.7	104.8
Investments	1,822	2,560.9
Other assets	41.1	29.8
Total assets	1,946.8	2,695.5
Liabilities	53.7	57.7
Net assets	1,893.1	2,637.8
Reportable entities | Voting interest entities
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	3	7.1
Investments	157.5	188.2
Other assets	3.4	2.8
Total assets	163.9	198.1
Liabilities	4.7	10
Net assets	159.2	188.1
Reportable entities | Variable interest entities
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	80.7	97.7
Investments	1,664.5	2,372.7
Other assets	37.7	27
Total assets	1,782.9	2,497.4
Liabilities	49	47.7
Net assets	1,733.9	2,449.7
Reportable entities | T. Rowe Price investment products | Consolidated T. Rowe Price investment products
Condensed Balance Sheet Statements, Captions [Line Items]
Investments	24.4	26.9
Money Market Funds | Reportable entities | T. Rowe Price investment products | Consolidated T. Rowe Price investment products
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	$ 2.8	$ 7

CONSOLIDATED T. ROWE PRICE IN_4

CONSOLIDATED T. ROWE PRICE INVESTMENT PRODUCTS. (Operating Results) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Condensed Income Statements, Captions [Line Items]
Operating expenses reflected in net operating income	$ (933.6)	$ (755.4)
Income before income taxes	995.3	206.9
Net income (loss) attributable to redeemable non-controlling interests	15.4	(176.5)
Consolidated T. Rowe Price investment products
Condensed Income Statements, Captions [Line Items]
Income before income taxes	33.7	(334)
Net income (loss) attributable to T. Rowe Price Group	18.3	(157.5)
Net income (loss) attributable to redeemable non-controlling interests	15.4	(176.5)
Voting interest entities
Condensed Income Statements, Captions [Line Items]
Income before income taxes	5.9	(35.4)
Net income (loss) attributable to T. Rowe Price Group	4	(22.6)
Net income (loss) attributable to redeemable non-controlling interests	1.9	(12.8)
Variable interest entities
Condensed Income Statements, Captions [Line Items]
Income before income taxes	27.8	(298.6)
Net income (loss) attributable to T. Rowe Price Group	14.3	(134.9)
Net income (loss) attributable to redeemable non-controlling interests	13.5	(163.7)
Reportable entities | Consolidated T. Rowe Price investment products
Condensed Income Statements, Captions [Line Items]
Operating expenses reflected in net operating income	(3.5)	(3.7)
Net investment income (loss) reflected in non-operating income (loss)	37.2	(330.3)
Income before income taxes	33.7	(334)
Reportable entities | Voting interest entities
Condensed Income Statements, Captions [Line Items]
Operating expenses reflected in net operating income	(0.2)	(0.2)
Net investment income (loss) reflected in non-operating income (loss)	6.1	(35.2)
Income before income taxes	5.9	(35.4)
Reportable entities | Variable interest entities
Condensed Income Statements, Captions [Line Items]
Operating expenses reflected in net operating income	(3.3)	(3.5)
Net investment income (loss) reflected in non-operating income (loss)	31.1	(295.1)
Income before income taxes	27.8	(298.6)
Consolidation eliminations
Condensed Income Statements, Captions [Line Items]
Operating expenses reflected in net operating income	$ (1.3)	$ (2.5)

CONSOLIDATED T. ROWE PRICE IN_5

CONSOLIDATED T. ROWE PRICE INVESTMENT PRODUCTS. (Statement of Cash Flows) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ 994.7	$ 787.7
Net cash used in investing activities	(30.8)	27.6
Net cash provided by financing activities	(307.5)	(992.3)
Effect of exchange rate changes on cash and cash equivalents of consolidated T. Rowe Price investment products	0.9	(1.2)
Net change in cash and cash equivalents during period	657.3	(178.2)
Cash and cash equivalents at beginning of period	2,256.5	1,858.3
Cash and cash equivalents at ending of period	2,913.8	1,680.1
Consolidated T. Rowe Price investment products
Condensed Cash Flow Statements, Captions [Line Items]
Cash and cash equivalents at beginning of period	104.8	76.5
Cash and cash equivalents at ending of period	83.7	117.7
Reportable entities | Consolidated T. Rowe Price investment products
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(143.7)	(75.7)
Net cash used in investing activities	(27.3)	(0.8)
Net cash provided by financing activities	149	118.9
Effect of exchange rate changes on cash and cash equivalents of consolidated T. Rowe Price investment products	0.9	(1.2)
Net change in cash and cash equivalents during period	(21.1)	41.2
Cash and cash equivalents at beginning of period	104.8	76.5
Cash and cash equivalents at ending of period	83.7	117.7
Reportable entities | Voting interest entities
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(31.7)	11.3
Net cash used in investing activities	(9.1)	(0.8)
Net cash provided by financing activities	36.7	2.7
Effect of exchange rate changes on cash and cash equivalents of consolidated T. Rowe Price investment products	0	0
Net change in cash and cash equivalents during period	(4.1)	13.2
Cash and cash equivalents at beginning of period	7.1	9.9
Cash and cash equivalents at ending of period	3	23.1
Reportable entities | Variable interest entities
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(112)	(87)
Net cash used in investing activities	(18.2)	0
Net cash provided by financing activities	112.3	116.2
Effect of exchange rate changes on cash and cash equivalents of consolidated T. Rowe Price investment products	0.9	(1.2)
Net change in cash and cash equivalents during period	(17)	28
Cash and cash equivalents at beginning of period	97.7	66.6
Cash and cash equivalents at ending of period	80.7	94.6
Consolidation eliminations | Consolidated T. Rowe Price investment products
Condensed Cash Flow Statements, Captions [Line Items]
Subscriptions payment, net of dividends received	$ 34.1	$ (42.8)

CONSOLIDATED T. ROWE PRICE IN_6

CONSOLIDATED T. ROWE PRICE INVESTMENT PRODUCTS. (Fair Value Measurements) (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 5,173.5		$ 4,504
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	15.6		$ 13.5
Fair value, measurements, recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	2,487.5	$ 1,931.1
Other investments	0.2	0.5
Fair value, measurements, recurring | Level 1 | Consolidated T. Rowe Price investment products
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	2.8	7
Equity securities	225.7	308
Fixed income securities	0	0
Other investments	4	2.6
Total	232.5	317.6
Liabilities	(0.4)	(0.4)
Fair value, measurements, recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	0.7	0.6
Fair value, measurements, recurring | Level 2 | Consolidated T. Rowe Price investment products
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Equity securities	449.9	708
Fixed income securities	1,107.2	1,411.3
Other investments	35.2	131
Total	1,592.3	2,250.3
Liabilities	$ (9.9)	$ (18.8)

STOCKHOLDERS' EQUITY. (Details)

STOCKHOLDERS' EQUITY. (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Unsettled common stock repurchases liability	$ 10.9	$ 2.5

STOCK-BASED COMPENSATION. (Stoc

STOCK-BASED COMPENSATION. (Stock Options) (Details)	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning balance (in shares) | shares	4,329,056
Exercised (in shares) | shares	(748,203)
Outstanding, ending balance (in shares) | shares	3,580,853
Exercisable at current period-end (in shares) | shares	3,580,853
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted-average exercise price of options outstanding, beginning balance (in dollars per share) | $ / shares	$ 72.52
Weighted-average exercise price of options exercised (in dollars per share) | $ / shares	72.28
Weighted-average exercise price of options outstanding, ending balance (in dollars per share) | $ / shares	72.57
Weighted-average exercise price of options exercisable at current period-end (in dollars per share) | $ / shares	$ 72.57

STOCK-BASED COMPENSATION. (Rest

STOCK-BASED COMPENSATION. (Restricted Shares and Stock Units) (Details)	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted-average fair value of nonvested restricted shares and restricted stock units, beginning balance (in dollars per share) | $ / shares	$ 116.51
Weighted-average fair value of restricted shares and restricted stock units granted (in dollars per share) | $ / shares	154.03
Weighted-average fair value of restricted shares and restricted stock units nonvested dividend equivalents granted to non-employee directors (in dollars per share) | $ / shares	172.22
Weighted-average fair value of restricted shares and restricted stock units vested (in dollars per share) | $ / shares	97.37
Weighted-average fair value of restricted shares and restricted stock units forfeited (in dollars per share) | $ / shares	114.66
Weighted-average fair value of nonvested restricted shares and restricted stock units, ending balance (in dollars per share) | $ / shares	$ 116.73
Restricted shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested, beginning balance (in shares)	7,412
Grants (in shares)	0
Nonvested dividend equivalents granted to non-employee directors (in shares)	0
Vested (in shares)	0
Forfeited (in shares)	0
Nonvested, ending balance (in shares)	7,412
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested, beginning balance (in shares)	6,367,059
Grants (in shares)	3,397
Nonvested dividend equivalents granted to non-employee directors (in shares)	550
Vested (in shares)	(64,942)
Forfeited (in shares)	(19,489)
Nonvested, ending balance (in shares)	6,286,575
Restricted stock units | Performance-based
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested, ending balance (in shares)	361,609
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Nonvested shares where performance threshold has been met (in shares)	198,205

STOCK-BASED COMPENSATION. (Futu

STOCK-BASED COMPENSATION. (Future Stock-Based Compensation Expense) (Details) $ in Millions	Mar. 31, 2021USD ($)
Share-based Payment Arrangement [Abstract]
Second quarter 2021	$ 56.9
Third quarter 2021	56.7
Fourth quarter 2021	50.2
2022	117.4
2023 through 2026	97.2
Total	$ 378.4

EARNINGS PER SHARE CALCULATIO_3

EARNINGS PER SHARE CALCULATIONS. (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Stock options with anti-diluted impact (in shares)	0	0
Net income attributable to T. Rowe Price Group	$ 749.4	$ 343.1
Less: net income allocated to outstanding restricted stock and stock unit holders (basic)	19.9	9.4
Less: net income allocated to outstanding restricted stock and stock unit holders (diluted)	19.9	9.4
Net income allocated to common stockholders (basic)	729.5	333.7
Net income allocated to common stockholders (diluted)	$ 729.5	$ 333.7
Weighted-average common shares
Outstanding (in shares)	227,700,000	234,100,000
Outstanding assuming dilution (in shares)	230,000,000	236,800,000

OTHER COMPREHENSIVE INCOME AN_3

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS. (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances at beginning of period	$ 7,707	$ 7,102.1
Other comprehensive income (loss)	(7.5)	(6.1)
Balances at end of period	8,008.2	6,434
Other comprehensive loss, net of tax, attributable to redeemable non-controlling interests	(11.8)	(17.2)
Currency translation adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances at beginning of period	(23)	(43)
Other comprehensive income (loss) before reclassifications and income taxes	(7.9)	(8)
Reclassification adjustments recognized in non-operating income	(2.6)	(0.1)
Other comprehensive income (loss), before taxes	(10.5)	(8.1)
Net deferred tax benefits (income taxes)	3	2
Other comprehensive income (loss)	(7.5)	(6.1)
Balances at end of period	(30.5)	(49.1)
Currency translation adjustments | Equity method investments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances at beginning of period	(43.6)	(46.9)
Other comprehensive income (loss) before reclassifications and income taxes	(0.8)	(0.1)
Reclassification adjustments recognized in non-operating income	0	0
Other comprehensive income (loss), before taxes	(0.8)	(0.1)
Net deferred tax benefits (income taxes)	0.5	0
Other comprehensive income (loss)	(0.3)	(0.1)
Balances at end of period	(43.9)	(47)
Currency translation adjustments | Variable interest entities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances at beginning of period	20.6	3.9
Other comprehensive income (loss) before reclassifications and income taxes	(7.1)	(7.9)
Reclassification adjustments recognized in non-operating income	(2.6)	(0.1)
Other comprehensive income (loss), before taxes	(9.7)	(8)
Net deferred tax benefits (income taxes)	2.5	2
Other comprehensive income (loss)	(7.2)	(6)
Balances at end of period	$ 13.4	$ (2.1)