T. Rowe Price (TROW) 10-Q 26 Jul 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Jul. 23, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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, $0.20 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		222,597,816
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
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	Jun. 30, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 2,714.9	$ 2,066.6
Accounts receivable and accrued revenue	846.9	807.9
Investments	2,758.9	2,554.7
Assets of consolidated sponsored investment products ($1,211.9 million at June 30, 2024 and $1,204.4 million at December 31, 2023, related to variable interest entities)	1,929.6	1,959.3
Operating lease assets	229.4	241.1
Property, equipment and software, net	884.5	806.6
Intangible assets, net	442.3	507.3
Goodwill	2,642.8	2,642.8
Other assets	640.5	692.5
Total assets	13,089.8	12,278.8
LIABILITIES
Accounts payable and accrued expenses	367.2	409.5
Liabilities of consolidated sponsored investment products ($28.7 million at June 30, 2024 and $35.2 million at December 31, 2023, related to variable interest entities)	65.1	54.2
Operating lease liabilities	299.3	308.5
Accrued compensation and related costs	566.5	240.8
Supplemental savings plan liability	941.7	895
Contingent consideration liability	13.4	13.4
Income taxes payable	13.6	66.2
Total liabilities	2,266.8	1,987.6
Commitments and contingent liabilities
Redeemable non-controlling interests	689	594.1
STOCKHOLDERS’ EQUITY
Preferred stock, undesignated, $0.20 par value – authorized and unissued 20,000,000 shares	0	0
Common stock, $0.20 par value—authorized 750,000,000; issued 222,612,000 shares at June 30, 2024 and 223,938,000 at December 31, 2023	44.5	44.8
Additional capital in excess of par value	368.8	431.7
Retained earnings	9,564.6	9,076.1
Accumulated other comprehensive loss	(49.2)	(47.5)
Total stockholders’ equity attributable to T. Rowe Price Group, Inc.	9,928.7	9,505.1
Non-controlling interests in consolidated entities	205.3	192
Total stockholders’ equity	10,134	9,697.1
Total liabilities, redeemable non-controlling interests, and stockholders’ equity	$ 13,089.8	$ 12,278.8

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Assets of consolidated T. Rowe Price investment products	$ 1,929.6	$ 1,959.3
Liabilities of consolidated T. Rowe Price investment products	$ 65.1	$ 54.2
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)	222,612,000	223,938,000
Variable interest entities
Assets of consolidated T. Rowe Price investment products	$ 1,211.9	$ 1,204.4
Liabilities of consolidated T. Rowe Price investment products	$ 28.7	$ 35.2

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues
Net revenues	$ 1,733.3	$ 1,610.2	$ 3,483.5	$ 3,147.8
Operating expenses
Compensation and related costs	661.1	648.2	1,370.1	1,301.7
Distribution and servicing	87.7	67.8	169.6	139.3
Advertising and promotion	33.3	22.9	58.6	48.7
Product and recordkeeping related costs	73	77.7	148	149.8
Technology, occupancy, and facility costs	160.9	154.7	310.8	301.3
General, administrative, and other	108.7	100	201.3	207.5
Change in fair value of contingent consideration	0	(23.2)	0	(72.8)
Acquisition-related amortization and impairment costs	43.9	28.6	73.8	54.6
Total operating expenses	1,168.6	1,076.7	2,332.2	2,130.1
Net operating income	564.7	533.5	1,151.3	1,017.7
Non-operating income (loss)
Net gains (losses) on investments	78	89.1	199.5	183
Net gains (losses) on consolidated sponsored investment products	8.5	24.4	80.8	69.8
Other gains (losses), including foreign currency gains (losses)	(6.2)	(7.3)	(11.1)	(11.2)
Total non-operating income (loss)	80.3	106.2	269.2	241.6
Income before income taxes	645	639.7	1,420.5	1,259.3
Provision for income taxes	159.7	158.5	341.8	336.4
Net income	485.3	481.2	1,078.7	922.9
Less: net income (loss) attributable to redeemable non-controlling interests	1.9	4.8	21.5	25
Net income attributable to T. Rowe Price Group	$ 483.4	$ 476.4	$ 1,057.2	$ 897.9
Earnings per share on common stock of T. Rowe Price Group
Basic (in dollars per share)	$ 2.11	$ 2.07	$ 4.61	$ 3.90
Diluted (in dollars per share)	$ 2.11	$ 2.06	$ 4.60	$ 3.89
Investment advisory fees
Revenues
Net revenues	$ 1,585.6	$ 1,430.8	$ 3,139.6	$ 2,822.6
Capital allocation-based income
Revenues
Net revenues	0.1	38.7	47.2	55.6
Administrative, distribution, and servicing fees
Revenues
Net revenues	$ 147.6	$ 140.7	$ 296.7	$ 269.6

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net income	$ 485.3	$ 481.2	$ 1,078.7	$ 922.9
Currency translation adjustments
Other comprehensive income (loss) before income taxes	1.2	10.6	(3.3)	18.6
Total other comprehensive income (loss)	0.8	9.4	(2.9)	16.8
Total comprehensive income	486.1	490.6	1,075.8	939.7
Less: comprehensive income (loss) attributable to redeemable non-controlling interests	2.3	10.5	20.3	36.8
Total comprehensive income attributable to T. Rowe Price Group	483.8	480.1	1,055.5	902.9
Variable interest entities
Currency translation adjustments
Consolidated T. Rowe Price investment products - variable interest entities	1.8	9.5	(3.8)	18.6
Net deferred tax (expense) benefits	(0.4)	(1.2)	0.4	(1.8)
Equity method investments
Currency translation adjustments
Equity method investments	$ (0.6)	$ 1.1	$ 0.5	$ 0

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities
Net income	$ 1,078.7	$ 922.9
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation, amortization and impairment of property, equipment and software	126.3	117.9
Amortization and impairment of acquisition-related assets and retention arrangements	124.1	97.9
Fair value remeasurement of contingent consideration liability	0	(72.8)
Stock-based compensation expense	112.6	115.4
Net gains recognized on investments	(213.4)	(215.6)
Net redemptions in sponsored investment products used to economically hedge supplemental savings plan liability	15.1	18.4
Net change in securities held by consolidated sponsored investment products	(218)	(414.5)
Other changes in assets and liabilities	289.6	336.9
Net cash provided by operating activities	1,315	906.5
Cash flows from investing activities
Purchases of sponsored investment products	(43.5)	(27.3)
Dispositions of sponsored investment products	210.9	73.8
Net cash of sponsored investment products on deconsolidation	(13.1)	(17.8)
Additions to property, equipment and software	(205.8)	(132.4)
Other investing activity	(41.9)	(32.2)
Net cash used in investing activities	(93.4)	(135.9)
Cash flows from financing activities
Repurchases of common stock	(195.5)	(50.4)
Common share issuances under stock-based compensation plans	16.3	12.1
Dividends paid to common stockholders of T. Rowe Price	(569.7)	(562.4)
Net contributions (distributions) to non-controlling interests in consolidated entities	2.5	(2.7)
Net subscriptions from redeemable non-controlling interest holders	170.9	283.4
Net cash used in financing activities	(575.5)	(320)
Effect of exchange rate changes on cash and cash equivalents of consolidated T. Rowe Price investment products	(1.1)	0.9
Net change in cash and cash equivalents during period	645	451.5
Cash and cash equivalents at beginning of period, including $77.2 million at December 31, 2023, and $119.1 million at December 31, 2022, held by consolidated sponsored investment products	2,143.8	1,874.7
Cash and cash equivalents at end of period, including $73.9 million at June 30, 2024, and $76.5 million at June 30, 2023, held by consolidated sponsored investment products	$ 2,788.8	$ 2,326.2

UNAUDITED CONDENSED CONSOLIDA_6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Cash and cash equivalents	$ 2,788.8	$ 2,143.8	$ 2,326.2	$ 1,874.7
Consolidated T. Rowe Price investment products
Cash and cash equivalents	$ 73.9	$ 77.2	$ 76.5	$ 119.1

UNAUDITED CONDENSED CONSOLIDA_7

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Total	Restricted shares	Restricted stock units	Total stockholders’ equity attributable to T. Rowe Price Group, Inc.	Total stockholders’ equity attributable to T. Rowe Price Group, Inc. Restricted shares	Total stockholders’ equity attributable to T. Rowe Price Group, Inc. Restricted stock units	Common stock	Common stock Restricted shares	Common stock Restricted stock units	Additional capital in excess of par value	Additional capital in excess of par value Restricted shares	Additional capital in excess of par value Restricted stock units	Retained earnings	AOCI	[1]	Non-controlling interests in consolidated entities
Beginning balance (in shares) at Dec. 31, 2022							224,310,000
Balances at beginning of period at Dec. 31, 2022	$ 9,030.2			$ 8,839.5			$ 44.9			$ 437.9			$ 8,409.7	$ (53)		$ 190.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	912			897.9									897.9			14.1
Other comprehensive income (loss), net of tax	5.2			5.2										5.2
Dividends declared	(561.2)			(561.2)									(561.2)
Shares issued upon option exercises (in shares)							259,000
Shares issued upon option exercises	14.9			14.9						14.9
Restricted shares issued, net of shares withheld for taxes (in shares)								54,000
Net shares issued upon vesting of restricted stock units (in shares)									78,000
Net shares issued upon vesting of restricted stock units			$ (2.8)			$ (2.8)						$ (2.8)
Stock-based compensation expense	115.5			115.5						115.5
Restricted stock units issued as dividend equivalents	0									0.2			(0.2)
Common shares repurchased (in shares)							(420,000)
Common shares repurchased	(45.2)			(45.2)			$ (0.1)			(45.1)
Net distributions to non-controlling interests in consolidated entities	(2.7)															(2.7)
Ending balance (in shares) at Jun. 30, 2023							224,281,000
Balances at end of period at Jun. 30, 2023	9,465.9			9,263.8			$ 44.8			520.6			8,746.2	(47.8)		202.1
Beginning balances attributable to redeemable non-controlling interests at Dec. 31, 2022	656.7
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income (loss)	25
Other comprehensive income (loss), net of tax	11.6
Net subscriptions into T. Rowe Price investment products	286
Net consolidations of T. Rowe Price investment products	5.9
Ending balances attributable to redeemable non-controlling interests at Jun. 30, 2023	985.2
Beginning balance (in shares) at Mar. 31, 2023							224,527,000
Balances at beginning of period at Mar. 31, 2023	9,239.8			9,045.4			$ 44.9			501.8			8,550.4	(51.7)		194.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	487			476.4									476.4			10.6
Other comprehensive income (loss), net of tax	3.9			3.9										3.9
Dividends declared	(280.5)			(280.5)									(280.5)
Shares issued upon option exercises (in shares)							69,000
Shares issued upon option exercises	4.6			4.6						4.6
Restricted shares issued, net of shares withheld for taxes (in shares)								54,000
Net shares issued upon vesting of restricted stock units (in shares)									26,000
Net shares issued upon vesting of restricted stock units			(0.4)			(0.4)						(0.4)
Stock-based compensation expense	56.8			56.8						56.8
Restricted stock units issued as dividend equivalents	0									0.1			(0.1)
Common shares repurchased (in shares)							(395,000)
Common shares repurchased	(42.4)			(42.4)			$ (0.1)			(42.3)
Net distributions to non-controlling interests in consolidated entities	(2.9)															(2.9)
Ending balance (in shares) at Jun. 30, 2023							224,281,000
Balances at end of period at Jun. 30, 2023	9,465.9			9,263.8			$ 44.8			520.6			8,746.2	(47.8)		202.1
Beginning balances attributable to redeemable non-controlling interests at Mar. 31, 2023	834.1
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income (loss)	4.8
Other comprehensive income (loss), net of tax	5.5
Net subscriptions into T. Rowe Price investment products	134.9
Net consolidations of T. Rowe Price investment products	5.9
Ending balances attributable to redeemable non-controlling interests at Jun. 30, 2023	985.2
Beginning balance (in shares) at Dec. 31, 2023							223,938,000
Balances at beginning of period at Dec. 31, 2023	9,697.1			9,505.1			$ 44.8			431.7			9,076.1	(47.5)		192
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	1,068			1,057.2									1,057.2			10.8
Other comprehensive income (loss), net of tax	(1.7)			(1.7)										(1.7)
Dividends declared	$ (568.5)			(568.5)									(568.5)
Shares issued upon option exercises (in shares)	420,387						295,000
Shares issued upon option exercises	$ 18.4			18.4			$ 0.1			18.3
Restricted shares issued, net of shares withheld for taxes (in shares)								7,000
Restricted shares issued, net of shares withheld for taxes		$ (0.3)			$ (0.3)						$ (0.3)
Net shares issued upon vesting of restricted stock units (in shares)									56,000
Net shares issued upon vesting of restricted stock units			(1.8)			(1.8)						(1.8)
Stock-based compensation expense	112.7			112.7						112.7
Restricted stock units issued as dividend equivalents	0									0.2			(0.2)
Common shares repurchased (in shares)							(1,684,000)
Common shares repurchased	(192.4)			(192.4)			$ (0.4)			(192)
Net contributions to non-controlling interests in consolidated entities	2.5															2.5
Ending balance (in shares) at Jun. 30, 2024							222,612,000
Balances at end of period at Jun. 30, 2024	10,134			9,928.7			$ 44.5			368.8			9,564.6	(49.2)		205.3
Beginning balances attributable to redeemable non-controlling interests at Dec. 31, 2023	594.1
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income (loss)	21.5
Other comprehensive income (loss), net of tax	(1.2)
Net subscriptions into T. Rowe Price investment products	170.8
Net deconsolidations of T. Rowe Price investment products	(96.2)
Ending balances attributable to redeemable non-controlling interests at Jun. 30, 2024	689
Beginning balance (in shares) at Mar. 31, 2024							223,494,000
Balances at beginning of period at Mar. 31, 2024	9,989.5			9,784.1			$ 44.7			424.2			9,364.8	(49.6)		205.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	481			483.4									483.4			(2.4)
Other comprehensive income (loss), net of tax	0.4			0.4										0.4
Dividends declared	(283.5)			(283.5)									(283.5)
Shares issued upon option exercises (in shares)							49,000
Shares issued upon option exercises	3			3			$ 0.1			2.9
Restricted shares issued, net of shares withheld for taxes (in shares)								7,000
Restricted shares issued, net of shares withheld for taxes		$ (0.3)			$ (0.3)						$ (0.3)
Net shares issued upon vesting of restricted stock units (in shares)									29,000
Net shares issued upon vesting of restricted stock units			$ (0.4)			$ (0.4)						$ (0.4)
Stock-based compensation expense	54.3			54.3						54.3
Restricted stock units issued as dividend equivalents	0									0.1			(0.1)
Common shares repurchased (in shares)							(967,000)
Common shares repurchased	(112.3)			(112.3)			$ (0.3)			(112)
Net contributions to non-controlling interests in consolidated entities	2.3															2.3
Ending balance (in shares) at Jun. 30, 2024							222,612,000
Balances at end of period at Jun. 30, 2024	10,134			$ 9,928.7			$ 44.5			$ 368.8			$ 9,564.6	$ (49.2)		$ 205.3
Beginning balances attributable to redeemable non-controlling interests at Mar. 31, 2024	676.7
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income (loss)	1.9
Other comprehensive income (loss), net of tax	0.4
Net subscriptions into T. Rowe Price investment products	78.1
Net deconsolidations of T. Rowe Price investment products	(68.1)
Ending balances attributable to redeemable non-controlling interests at Jun. 30, 2024	$ 689
[1]Accumulated other comprehensive income

UNAUDITED CONDENSED CONSOLIDA_8

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per share (in dollars per share)	$ 1.24	$ 1.22	$ 2.48	$ 2.44

THE COMPANY AND BASIS OF PREPAR

THE COMPANY AND BASIS OF PREPARATION	6 Months Ended
	Jun. 30, 2024
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 that invest in a broad range of investment solutions across equity, fixed income, multi-asset, and alternative capabilities. 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. The investment solutions are provided in a number of vehicles, including 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., products offered through variable annuity life insurance plans in the U.S., affiliated private investment funds and collateralized loan obligations. 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. The unaudited financial information contained in these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements contained in our 2023 Annual Report. NEWLY ISSUED BUT NOT YET ADOPTED ACCOUNTING GUIDANCE. In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-07 - Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures . As required by the guidance, we will adopt the annual disclosures of significant segment expenses that are regularly provided to the chief operating decision maker  in our 2024 year-end reporting. Interim segment reporting will become effective under the amendment on January 1, 2025. In December 2023, the FASB issued Accounting Standards Update No. 2023-09 - Income Taxes (Topic 740) - Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. This amendment is effective for the firm on January 1, 2025. We are currently evaluating the impact of adopting this standard and have not yet determined our transition approach. We have considered all other 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	6 Months Ended
	Jun. 30, 2024
Information about Receivables, Revenues, and Services [Abstract]
INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES	INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. Net revenues earned in the three- and six-month periods ended June 30, 2024 and 2023, are included in the table below along with details of investment advisory revenues earned from clients by their underlying asset class. We also included average assets under management by asset class, on which we earn the investment advisory revenues. Three months ended Six months ended (in millions) 6/30/2024 6/30/2023 6/30/2024 6/30/2023 Investment advisory fees Equity $ 948.9 $ 862.3 $ 1,898.5 $ 1,696.2 Fixed income, including money market 100.2 100.0 200.8 202.4 Multi-asset 444.8 391.3 874.5 777.3 Alternatives 91.7 77.2 165.8 146.7 Total investment advisory fees $ 1,585.6 $ 1,430.8 $ 3,139.6 $ 2,822.6 Capital allocation-based income 0.1 38.7 47.2 55.6 Total administrative, distribution, and servicing fees 147.6 140.7 296.7 269.6 Net revenues $ 1,733.3 $ 1,610.2 $ 3,483.5 $ 3,147.8 Average AUM (in billions) : Equity $ 790.4 $ 703.4 $ 780.4 $ 695.2 Fixed income, including money market 174.8 170.4 172.1 170.0 Multi-asset 520.1 439.0 508.6 430.7 Alternatives 48.7 44.6 48.1 44.3 Average AUM $ 1,534.0 $ 1,357.4 $ 1,509.2 $ 1,340.2 Total net revenues earned from our sponsored products, primarily our sponsored U.S. mutual funds and collective investment trusts, aggregate $1,429.4 million and $1,324.4 million for the three months ended June 30, 2024 and 2023, respectively. Total net revenues earned during the six months ended June 30, 2024 and 2023 aggregate $2,873.0 million and $2,592.4 million, respectively. Accounts receivable from our sponsored products aggregate to $577.3 million at June 30, 2024 and $533.9 million at December 31, 2023.

INVESTMENTS

INVESTMENTS	6 Months Ended
	Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	INVESTMENTS. The carrying values of our investments that are not part of the consolidated sponsored investment products are as follows: (in millions) 6/30/2024 12/31/2023 Investments held at fair value T. Rowe Price investment products Discretionary investments $ 245.9 $ 246.4 Seed capital 260.3 247.8 Supplemental savings plan liability economic hedges 852.0 806.6 Investment partnerships and other investments 108.0 69.7 Investments in affiliated collateralized loan obligations 7.6 8.4 Equity method investments T. Rowe Price investment products Discretionary investments 40.4 5.3 Seed capital 136.9 91.1 Supplemental savings plan liability economic hedges 40.6 21.0 23% Investment in UTI Asset Management Company Limited (India) 175.1 164.5 Investments in affiliated private investment funds - carried interest 497.3 519.9 Investments in affiliated private investment funds - seed/co-investment 280.5 253.4 Investments in partnerships and other investments 1.9 2.2 Held to maturity Investments in affiliated collateralized loan obligations 81.8 94.1 Certificates of deposit 29.6 23.3 U.S. Treasury note 1.0 1.0 Total $ 2,758.9 $ 2,554.7 The investment partnerships held at fair value are valued 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- and six- months ended June 30, 2024, net gains on investments included $20.0 million and $85.0 million, respectively, of net unrealized gains related to investments carried at fair value that were still held at June 30, 2024. For the same periods of 2023, net gains on investments included $28.3 million and $75.0 million, respectively, of net unrealized gains related to investments carried at fair value that were still held at June 30, 2023. During the six months ended June 30, 2024 and 2023, certain sponsored 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 report our residual interests in these sponsored investment products as either an equity method investment or an investment held at fair value. The net impact of these changes on our unaudited condensed consolidated balance sheets and statements of income as of the dates the products were deconsolidated is detailed below. Three months ended Six months ended (in millions) 6/30/2024 6/30/2023 6/30/2024 6/30/2023 Net increase (decrease) in assets of consolidated sponsored investment products $ (236.4) $ (79.0) $ (271.8) $ (81.4) Net increase (decrease) in liabilities of consolidated sponsored investment products $ (4.9) $ (33.0) $ (4.9) $ (33.1) Net increase (decrease) in redeemable non-controlling interests $ (68.1) $ 5.9 $ (96.2) $ 5.9 INVESTMENTS IN AFFILIATED COLLATERALIZED LOAN OBLIGATIONS. There is debt associated with our long-term investments in affiliated collateralized loan obligations (“CLOs”). This debt is carried at $77.2 million at June 30, 2024 and $89.4 million at December 31, 2023, and is reported in accounts payable and accrued expenses in our unaudited condensed consolidated balance sheets. The debt includes outstanding repurchase agreements of €61.1 million (equivalent to $65.5 million at June 30, 2024 and $72.3 million at December 31, 2023 at the respective EUR spot rates) that are collateralized by the CLO investments. The debt also includes outstanding note facilities of €10.9 million (equivalent to $11.7 million at June 30, 2024 and $17.1 million at December 31, 2023, at the respective EUR spot rates) that are collateralized by first priority security interests in the assets of a consolidated subsidiary that is party to the notes. These note facilities bear interest at rates based on EURIBOR plus the initial margin, which equals all-in rates ranging from 1.15% to 12.77% as of June 30, 2024. The debt matures on various dates through 2035 or if the investments are paid back in full or cancelled, whichever is sooner. VARIABLE INTEREST ENTITIES. Our investments at June 30, 2024 and December 31, 2023 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) 6/30/2024 12/31/2023 Investment carrying values $ 877.3 $ 919.3 Unfunded capital commitments 81.4 94.1 Accounts receivable 74.8 92.1 $ 1,033.5 $ 1,105.5 The unfunded capital commitments, totaling $81.4 million at June 30, 2024 and $94.1 million at December 31, 2023, relate primarily to the affiliated private investment funds and the investment partnerships in which we have an existing investment. In addition to such amounts, a percentage of prior distributions may be called under certain circumstances. INVESTMENTS IN AFFILIATED FUNDS - CARRIED INTEREST. Certain of the investments in affiliated funds represent interests in the general partners of affiliated private investment funds that are entitled to a disproportionate allocation of income or carried interest. The entities holding such interests are considered variable interest entities and are consolidated as we were determined to be the primary beneficiary. The total assets, liabilities, and non-controlling interests of these consolidated variable interest entities are as follows: (in millions) 6/30/2024 12/31/2023 Assets $ 561.2 $ 564.7 Liabilities $ 0.2 $ 1.9 Non-controlling interest $ 205.3 $ 192.0

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2024
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. The inputs into the determination of fair value require significant management judgment or estimation. Investments in this category generally include investments for which there is not an actively-traded market. These levels are not necessarily an indication of the risk or liquidity associated with our investments. The following table summarizes our investments and liabilities 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 sponsored investment products which are presented separately in our unaudited condensed consolidated balance sheets and are detailed in Note 5. 6/30/2024 12/31/2023 (in millions) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 T. Rowe Price investment products Cash equivalents held in money market funds $ 2,371.1 $ — $ — $ 1,678.1 $ — $ — Discretionary investments 245.9 — — 246.4 — — Seed capital 220.9 39.4 — 206.0 41.8 — Supplemental savings plan liability economic hedges 852.0 — — 806.6 — — Other investments 0.1 — 41.5 0.7 — — Investments in affiliated collateralized loan obligations — 7.6 — — 8.4 — Total $ 3,690.0 $ 47.0 $ 41.5 $ 2,937.8 $ 50.2 $ — Contingent consideration liability $ — $ — $ 13.4 $ — $ — $ 13.4 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 $66.4 million at June 30, 2024, and $69.0 million at December 31, 2023. The Level 3 investments’ fair value is derived from inputs that are unobservable and that reflect our own determinations about the assumptions that market participants would use in pricing the investments, including assumptions about risk. These inputs are developed based on our data, which is adjusted if information indicates that market participants would use different assumptions. For the three months ended June 30, 2024, the change in Level 3 fair values are solely attributable to the purchases of new investments and there were no transfers into or out of Level 3. The following table provides information about the significant Level 3 inputs: Fair value measurements as of June 30, 2024 (in millions) Fair value Valuation techniques Unobservable inputs Interest rate input Other investments $ 41.5 Market Yield (Comparables) Yield 9.4% Contingent Consideration As part of the purchase consideration for our acquisition of OHA in December 2021, there was contingent consideration in the amount of up to $900 million, payable in cash, that may be due as part of an earnout payment starting in 2025 and ending in 2027 upon satisfying or exceeding certain defined revenue targets. These defined revenue targets will be evaluated on a cumulative basis beginning at the end of 2024, with the ability to extend two The change in the contingent consideration liability measured at fair value for which we used Level 3 inputs to determine fair value is as follows: Three months ended Six months ended (in millions) 6/30/2024 6/30/2023 6/30/2024 6/30/2023 Balance at beginning of period $ 13.4 $ 46.2 $ 13.4 $ 95.8 Unrealized gains, included in earnings — (23.2) — (72.8) Balance at end of period $ 13.4 $ 23.0 $ 13.4 $ 23.0 The fair value of the contingent consideration is measured using the Monte Carlo simulation methodology of valuation. The most significant assumptions used relate to the discount rates and from changes pertaining to the achievement of the defined financial targets.

CONSOLIDATED SPONSORED INVESTME

CONSOLIDATED SPONSORED INVESTMENT PRODUCTS	6 Months Ended
	Jun. 30, 2024
Consolidated Sponsored Investment Portfolios [Abstract]
CONSOLIDATED SPONSORED INVESTMENT PRODUCTS	CONSOLIDATED SPONSORED INVESTMENT PRODUCTS. The sponsored 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 and certain other sponsored products 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 sponsored investment products: 6/30/2024 12/31/2023 (in millions) Voting Variable interest entities Total Voting Variable interest entities Total Cash and cash equivalents (1) $ 21.4 $ 52.5 $ 73.9 $ 25.7 $ 51.5 $ 77.2 Investments (2) 674.5 1,144.7 1,819.2 718.0 1,129.0 1,847.0 Other assets 21.8 14.7 36.5 11.2 23.9 35.1 Total assets 717.7 1,211.9 1,929.6 754.9 1,204.4 1,959.3 Liabilities 36.4 28.7 65.1 19.0 35.2 54.2 Net assets $ 681.3 $ 1,183.2 $ 1,864.5 $ 735.9 $ 1,169.2 $ 1,905.1 Attributable to T. Rowe Price Group $ 461.4 $ 714.1 $ 1,175.5 $ 589.9 $ 721.1 $ 1,311.0 Attributable to redeemable non-controlling interests 219.9 469.1 689.0 146.0 448.1 594.1 $ 681.3 $ 1,183.2 $ 1,864.5 $ 735.9 $ 1,169.2 $ 1,905.1 (1) Cash and cash equivalents includes $17.8 million at June 30, 2024, and $16.2 million at December 31, 2023, of investments in T. Rowe Price money market mutual funds. (2) Investments include $6.2 million at June 30, 2024, and $6.2 million at December 31, 2023 of other sponsored investment products. Although we can redeem our interest in these consolidated sponsored 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 sponsored investment products is limited to valuation changes associated with our 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 sponsored investment products for the three- and six- months ended June 30, 2024 and 2023, are reflected in our unaudited condensed consolidated statements of income as follows: Three months ended 6/30/2024 6/30/2023 (in millions) Voting Variable interest entities Total Voting Variable interest entities Total Operating expenses reflected in net operating income $ (0.7) $ (1.9) $ (2.6) $ (0.8) $ (2.6) $ (3.4) Net investment income (loss) reflected in non-operating income (loss) (3.7) 12.2 8.5 5.8 18.2 24.0 Impact on income before taxes $ (4.4) $ 10.3 $ 5.9 $ 5.0 $ 15.6 $ 20.6 Net income (loss) attributable to T. Rowe Price Group $ (3.0) $ 7.0 $ 4.0 $ 4.4 $ 11.4 $ 15.8 Net income (loss) attributable to redeemable non-controlling interests (1.4) 3.3 1.9 0.6 4.2 4.8 $ (4.4) $ 10.3 $ 5.9 $ 5.0 $ 15.6 $ 20.6 Six months ended 6/30/2024 6/30/2023 (in millions) Voting Variable interest entities Total Voting Variable interest entities Total Operating expenses reflected in net operating income $ (1.5) $ (3.4) $ (4.9) $ (2.5) $ (4.9) $ (7.4) Net investment income (loss) reflected in non-operating income (loss) 29.7 51.1 80.8 12.7 57.1 69.8 Impact on income before taxes $ 28.2 $ 47.7 $ 75.9 $ 10.2 $ 52.2 $ 62.4 Net income (loss) attributable to T. Rowe Price Group $ 22.8 $ 31.6 $ 54.4 $ 8.1 $ 29.3 $ 37.4 Net income (loss) attributable to redeemable non-controlling interests 5.4 16.1 21.5 2.1 22.9 25.0 $ 28.2 $ 47.7 $ 75.9 $ 10.2 $ 52.2 $ 62.4 The operating expenses of the consolidated investment products are reflected in general, administrative and other expenses. In preparing our unaudited condensed consolidated financial statements, we eliminated operating expenses of $0.5 million and $0.3 million for the three months ended June 30, 2024 and 2023, respectively, against the investment advisory and administrative fees earned from these products. Operating expenses eliminated for the six months ended June 30, 2024 and 2023, were $1.7 million and $0.9 million, respectively. The net investment income (loss) reflected in non-operating income (loss) includes dividend and interest income as well as realized and unrealized gains and losses on the underlying securities held by the consolidated sponsored 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 six months ended June 30, 2024 and 2023. Six months ended 6/30/2024 6/30/2023 (in millions) Voting Variable interest entities Total Voting Variable interest entities Total Net cash provided by (used in) operating activities $ (111.4) $ (32.2) $ (143.6) $ (77.3) $ (273.4) $ (350.7) Net cash provided by (used in) investing activities (12.4) (0.7) (13.1) (15.5) (2.3) (17.8) Net cash provided by (used in) financing activities 119.5 35.0 154.5 78.2 246.8 325.0 Effect of exchange rate changes on cash and cash equivalents of consolidated sponsored investment products — (1.1) (1.1) — 0.9 0.9 Net change in cash and cash equivalents during period (4.3) 1.0 (3.3) (14.6) (28.0) (42.6) Cash and cash equivalents at beginning of year 25.7 51.5 77.2 16.2 102.9 119.1 Cash and cash equivalents at end of period $ 21.4 $ 52.5 $ 73.9 $ 1.6 $ 74.9 $ 76.5 For the six months ended June 30, 2024, the net cash provided by or used in financing activities includes $16.4 million of net subscriptions we made into the consolidated sponsored investment products and dividends received. For the six months ended June 30, 2023, the net cash provided by or used in financing activities included $41.6 million of net redemptions we made from the consolidated sponsored 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 sponsored 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 inputs into the determination of fair value require significant management judgment or estimation. Investments in this category generally include investments for which there is not an actively-traded market. 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 sponsored investment products using fair value measurements determined based on the differing levels of inputs. 6/30/2024 12/31/2023 (in millions) Level 1 Level 2 Level 1 Level 2 Assets Cash equivalents $ 19.9 $ — $ 17.2 $ 8.0 Equity securities 381.4 237.4 365.1 213.6 Fixed income securities — 1,179.8 — 1,241.9 Other investments 2.8 17.8 3.6 22.8 $ 404.1 $ 1,435.0 $ — $ 385.9 $ 1,486.3 Liabilities $ (4.7) $ (10.6) $ (5.1) $ (16.2)

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS. Goodwill and intangible assets consist of the following: (in millions) 6/30/2024 12/31/2023 Goodwill $ 2,642.8 $ 2,642.8 Indefinite-lived intangible assets - trade name 104.8 117.1 Indefinite-lived intangible assets - investment advisory agreements 65.6 65.6 Definite-lived intangible assets - investment advisory agreements 271.9 324.6 Total $ 3,085.1 $ 3,150.1 Amortization and impairment expense for the definite-lived intangible assets was $27.2 million and $52.7 million for the three- and six- months ended June 30, 2024, respectively. For the three- and six- months ended June 30, 2023, amortization and impairment expense for the definite-lived intangible assets was $26.4 million and $52.4 million, respectively. Estimated amortization expense for the definite-lived intangible assets for the five succeeding years is a follows: (in millions) Remaining 2024 $ 42.8 2025 82.2 2026 65.2 2027 45.3 2028 14.3 Impairment Our indefinite-lived intangible assets are tested for impairment annually, in the fourth quarter, or more frequently if events or changes in circumstances indicate that it is more likely than not that the intangible asset is impaired. Based on a review of qualitative factors, primarily the future outlook, we determined it was necessary to perform a quantitative impairment test on the trade name intangible asset during the three months ended June 30, 2024. The quantitative impairment test resulted in the carrying amount of the trade name intangible asset exceeding its fair value and we recognized an impairment charge of $12.3 million, which represented the excess. Fair value was determined using a discounted cash flow analysis where estimated future cash flows were discounted to arrive at a single present value amount. This approach included inputs that required significant management judgment, the most relevant of which include revenue growth, discount rate, and effective tax rate. We evaluate the carrying amount of goodwill in our unaudited condensed consolidated balance sheets for possible impairment on an annual basis in the fourth quarter or if triggering events occur that require us to evaluate for impairment earlier. No triggering events arose during the six months ended June 30, 2024.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2024
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 six months ended June 30, 2024. Options Weighted- average exercise price Outstanding at December 31, 2023 1,476,104 $ 75.39 Exercised (420,387) $ 76.62 Expired (1,768) $ 76.75 Outstanding and exercisable at June 30, 2024 1,053,949 $ 74.90 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 six months ended June 30, 2024. Restricted shares Restricted stock units Weighted-average fair value Nonvested at December 31, 2023 56,740 6,485,253 $ 127.74 Time-based grants 8,970 39,896 $ 111.02 Dividend equivalents granted to non-employee directors — 1,860 $ 118.83 Vested (17,682) (61,026) $ 105.98 Forfeited — (98,941) $ 127.48 Nonvested at June 30, 2024 48,028 6,367,042 $ 127.89 Nonvested at June 30, 2024, includes performance-based restricted stock units of 334,548. These nonvested performance-based restricted stock units include 108,775 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 June 30, 2024. 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) Third quarter 2024 $ 57.1 Fourth quarter 2024 50.2 2025 118.4 2026 through 2029 87.9 Total $ 313.6

EARNINGS PER SHARE CALCULATIONS

EARNINGS PER SHARE CALCULATIONS	6 Months Ended
	Jun. 30, 2024
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 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 Six months ended (in millions) 6/30/2024 6/30/2023 6/30/2024 6/30/2023 Net income attributable to T. Rowe Price $ 483.4 $ 476.4 $ 1,057.2 $ 897.9 Less: net income allocated to outstanding restricted stock and stock unit holders 12.9 11.6 28.7 22.1 Net income allocated to common stockholders $ 470.5 $ 464.8 $ 1,028.5 $ 875.8 Weighted-average common shares Outstanding 223.0 224.4 223.3 224.4 Outstanding assuming dilution 223.5 225.2 223.8 225.2

OTHER COMPREHENSIVE INCOME AND

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity Note [Abstract]
OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS	OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS. The changes in currency translation adjustments included in accumulated other comprehensive loss for the three months ended June 30, 2024 and 2023 are presented in the table below. Three months ended 6/30/2024 Three months ended 6/30/2023 (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 $ (50.9) $ 1.3 $ (49.6) $ (51.4) $ (0.3) $ (51.7) Other comprehensive income (loss) before reclassifications and income taxes (0.6) 1.4 0.8 1.1 3.9 5.0 Net deferred tax benefits (income taxes) — (0.4) (0.4) (0.2) (0.9) (1.1) Other comprehensive income (loss) (0.6) 1.0 0.4 0.9 3.0 3.9 Balances at end of period $ (51.5) $ 2.3 $ (49.2) $ (50.5) $ 2.7 $ (47.8) The other comprehensive income (loss) in the table above excludes other comprehensive gains of $0.4 million and $5.5 million for the three months ended June 30, 2024 and 2023, related to redeemable non-controlling interests held in our consolidated products. The changes in each component of accumulated other comprehensive loss for the six months ended June 30, 2024 and 2023, are presented in the table below. Six months ended 6/30/2024 Six months ended 6/30/2023 (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 $ (51.9) $ 4.4 $ (47.5) $ (50.5) $ (2.5) $ (53.0) Other comprehensive income (loss) before reclassifications and income taxes 0.5 (2.6) (2.1) — 6.9 6.9 Net deferred tax benefits (income taxes) (0.1) 0.5 0.4 — (1.7) (1.7) Other comprehensive income (loss) 0.4 (2.1) (1.7) — 5.2 5.2 Balances at end of period $ (51.5) $ 2.3 $ (49.2) $ (50.5) $ 2.7 $ (47.8) The other comprehensive income (loss) in the table above excludes net losses of $1.2 million for 2024 period and net gains of $11.6 million for the 2023 period of other comprehensive income (loss) related to redeemable non-controlling interests held in our consolidated products.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES. COMMITMENTS. T. Rowe Price has committed $360 million for investment in future OHA product launches through 2026. CONTINGENCIES. 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)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of accounting	These unaudited condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States.
Use of estimates	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.
Newly issued but not yet adopted accounting guidance	NEWLY ISSUED BUT NOT YET ADOPTED ACCOUNTING GUIDANCE. In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-07 - Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures . As required by the guidance, we will adopt the annual disclosures of significant segment expenses that are regularly provided to the chief operating decision maker  in our 2024 year-end reporting. Interim segment reporting will become effective under the amendment on January 1, 2025. In December 2023, the FASB issued Accounting Standards Update No. 2023-09 - Income Taxes (Topic 740) - Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. This amendment is effective for the firm on January 1, 2025. We are currently evaluating the impact of adopting this standard and have not yet determined our transition approach. We have considered all other 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)	6 Months Ended
	Jun. 30, 2024
Information about Receivables, Revenues, and Services [Abstract]
Schedule of Revenues From Advisory Services	Net revenues earned in the three- and six-month periods ended June 30, 2024 and 2023, are included in the table below along with details of investment advisory revenues earned from clients by their underlying asset class. We also included average assets under management by asset class, on which we earn the investment advisory revenues. Three months ended Six months ended (in millions) 6/30/2024 6/30/2023 6/30/2024 6/30/2023 Investment advisory fees Equity $ 948.9 $ 862.3 $ 1,898.5 $ 1,696.2 Fixed income, including money market 100.2 100.0 200.8 202.4 Multi-asset 444.8 391.3 874.5 777.3 Alternatives 91.7 77.2 165.8 146.7 Total investment advisory fees $ 1,585.6 $ 1,430.8 $ 3,139.6 $ 2,822.6 Capital allocation-based income 0.1 38.7 47.2 55.6 Total administrative, distribution, and servicing fees 147.6 140.7 296.7 269.6 Net revenues $ 1,733.3 $ 1,610.2 $ 3,483.5 $ 3,147.8 Average AUM (in billions) : Equity $ 790.4 $ 703.4 $ 780.4 $ 695.2 Fixed income, including money market 174.8 170.4 172.1 170.0 Multi-asset 520.1 439.0 508.6 430.7 Alternatives 48.7 44.6 48.1 44.3 Average AUM $ 1,534.0 $ 1,357.4 $ 1,509.2 $ 1,340.2

INVESTMENTS (Tables)

INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Unconsolidated Investments	The carrying values of our investments that are not part of the consolidated sponsored investment products are as follows: (in millions) 6/30/2024 12/31/2023 Investments held at fair value T. Rowe Price investment products Discretionary investments $ 245.9 $ 246.4 Seed capital 260.3 247.8 Supplemental savings plan liability economic hedges 852.0 806.6 Investment partnerships and other investments 108.0 69.7 Investments in affiliated collateralized loan obligations 7.6 8.4 Equity method investments T. Rowe Price investment products Discretionary investments 40.4 5.3 Seed capital 136.9 91.1 Supplemental savings plan liability economic hedges 40.6 21.0 23% Investment in UTI Asset Management Company Limited (India) 175.1 164.5 Investments in affiliated private investment funds - carried interest 497.3 519.9 Investments in affiliated private investment funds - seed/co-investment 280.5 253.4 Investments in partnerships and other investments 1.9 2.2 Held to maturity Investments in affiliated collateralized loan obligations 81.8 94.1 Certificates of deposit 29.6 23.3 U.S. Treasury note 1.0 1.0 Total $ 2,758.9 $ 2,554.7
Schedule of 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 products were deconsolidated is detailed below. Three months ended Six months ended (in millions) 6/30/2024 6/30/2023 6/30/2024 6/30/2023 Net increase (decrease) in assets of consolidated sponsored investment products $ (236.4) $ (79.0) $ (271.8) $ (81.4) Net increase (decrease) in liabilities of consolidated sponsored investment products $ (4.9) $ (33.0) $ (4.9) $ (33.1) Net increase (decrease) in redeemable non-controlling interests $ (68.1) $ 5.9 $ (96.2) $ 5.9
Schedule of Maximum Risk of Loss Related to Investments in Variable Interest Entities	Our investments at June 30, 2024 and December 31, 2023 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) 6/30/2024 12/31/2023 Investment carrying values $ 877.3 $ 919.3 Unfunded capital commitments 81.4 94.1 Accounts receivable 74.8 92.1 $ 1,033.5 $ 1,105.5
Schedule of Total Assets, Liabilities and Non-controlling Interests of Consolidated Variable Interest Entities	The total assets, liabilities, and non-controlling interests of these consolidated variable interest entities are as follows: (in millions) 6/30/2024 12/31/2023 Assets $ 561.2 $ 564.7 Liabilities $ 0.2 $ 1.9 Non-controlling interest $ 205.3 $ 192.0

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements	The following table summarizes our investments and liabilities 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 sponsored investment products which are presented separately in our unaudited condensed consolidated balance sheets and are detailed in Note 5. 6/30/2024 12/31/2023 (in millions) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 T. Rowe Price investment products Cash equivalents held in money market funds $ 2,371.1 $ — $ — $ 1,678.1 $ — $ — Discretionary investments 245.9 — — 246.4 — — Seed capital 220.9 39.4 — 206.0 41.8 — Supplemental savings plan liability economic hedges 852.0 — — 806.6 — — Other investments 0.1 — 41.5 0.7 — — Investments in affiliated collateralized loan obligations — 7.6 — — 8.4 — Total $ 3,690.0 $ 47.0 $ 41.5 $ 2,937.8 $ 50.2 $ — Contingent consideration liability $ — $ — $ 13.4 $ — $ — $ 13.4
Schedule of Fair Values of Investments	The following table provides information about the significant Level 3 inputs: Fair value measurements as of June 30, 2024 (in millions) Fair value Valuation techniques Unobservable inputs Interest rate input Other investments $ 41.5 Market Yield (Comparables) Yield 9.4% 6/30/2024 12/31/2023 (in millions) Level 1 Level 2 Level 1 Level 2 Assets Cash equivalents $ 19.9 $ — $ 17.2 $ 8.0 Equity securities 381.4 237.4 365.1 213.6 Fixed income securities — 1,179.8 — 1,241.9 Other investments 2.8 17.8 3.6 22.8 $ 404.1 $ 1,435.0 $ — $ 385.9 $ 1,486.3 Liabilities $ (4.7) $ (10.6) $ (5.1) $ (16.2)
Schedule of Change in Contingent Consideration Liability	The change in the contingent consideration liability measured at fair value for which we used Level 3 inputs to determine fair value is as follows: Three months ended Six months ended (in millions) 6/30/2024 6/30/2023 6/30/2024 6/30/2023 Balance at beginning of period $ 13.4 $ 46.2 $ 13.4 $ 95.8 Unrealized gains, included in earnings — (23.2) — (72.8) Balance at end of period $ 13.4 $ 23.0 $ 13.4 $ 23.0

CONSOLIDATED SPONSORED INVEST_2

CONSOLIDATED SPONSORED INVESTMENT PRODUCTS (Tables)	6 Months Ended
	Jun. 30, 2024
Consolidated Sponsored Investment Portfolios [Abstract]
Schedule of Net Assets of Consolidated T. Rowe Price Investment Portfolios	The following table details the net assets of the consolidated sponsored investment products: 6/30/2024 12/31/2023 (in millions) Voting Variable interest entities Total Voting Variable interest entities Total Cash and cash equivalents (1) $ 21.4 $ 52.5 $ 73.9 $ 25.7 $ 51.5 $ 77.2 Investments (2) 674.5 1,144.7 1,819.2 718.0 1,129.0 1,847.0 Other assets 21.8 14.7 36.5 11.2 23.9 35.1 Total assets 717.7 1,211.9 1,929.6 754.9 1,204.4 1,959.3 Liabilities 36.4 28.7 65.1 19.0 35.2 54.2 Net assets $ 681.3 $ 1,183.2 $ 1,864.5 $ 735.9 $ 1,169.2 $ 1,905.1 Attributable to T. Rowe Price Group $ 461.4 $ 714.1 $ 1,175.5 $ 589.9 $ 721.1 $ 1,311.0 Attributable to redeemable non-controlling interests 219.9 469.1 689.0 146.0 448.1 594.1 $ 681.3 $ 1,183.2 $ 1,864.5 $ 735.9 $ 1,169.2 $ 1,905.1 (1) Cash and cash equivalents includes $17.8 million at June 30, 2024, and $16.2 million at December 31, 2023, of investments in T. Rowe Price money market mutual funds. (2) Investments include $6.2 million at June 30, 2024, and $6.2 million at December 31, 2023 of other sponsored investment products.
Schedule of Operating Results of Consolidated T. Rowe Price Investment Portfolios	The operating results of the consolidated sponsored investment products for the three- and six- months ended June 30, 2024 and 2023, are reflected in our unaudited condensed consolidated statements of income as follows: Three months ended 6/30/2024 6/30/2023 (in millions) Voting Variable interest entities Total Voting Variable interest entities Total Operating expenses reflected in net operating income $ (0.7) $ (1.9) $ (2.6) $ (0.8) $ (2.6) $ (3.4) Net investment income (loss) reflected in non-operating income (loss) (3.7) 12.2 8.5 5.8 18.2 24.0 Impact on income before taxes $ (4.4) $ 10.3 $ 5.9 $ 5.0 $ 15.6 $ 20.6 Net income (loss) attributable to T. Rowe Price Group $ (3.0) $ 7.0 $ 4.0 $ 4.4 $ 11.4 $ 15.8 Net income (loss) attributable to redeemable non-controlling interests (1.4) 3.3 1.9 0.6 4.2 4.8 $ (4.4) $ 10.3 $ 5.9 $ 5.0 $ 15.6 $ 20.6 Six months ended 6/30/2024 6/30/2023 (in millions) Voting Variable interest entities Total Voting Variable interest entities Total Operating expenses reflected in net operating income $ (1.5) $ (3.4) $ (4.9) $ (2.5) $ (4.9) $ (7.4) Net investment income (loss) reflected in non-operating income (loss) 29.7 51.1 80.8 12.7 57.1 69.8 Impact on income before taxes $ 28.2 $ 47.7 $ 75.9 $ 10.2 $ 52.2 $ 62.4 Net income (loss) attributable to T. Rowe Price Group $ 22.8 $ 31.6 $ 54.4 $ 8.1 $ 29.3 $ 37.4 Net income (loss) attributable to redeemable non-controlling interests 5.4 16.1 21.5 2.1 22.9 25.0 $ 28.2 $ 47.7 $ 75.9 $ 10.2 $ 52.2 $ 62.4
Schedule of Cash flows of Consolidated T. Rowe Price 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 six months ended June 30, 2024 and 2023. Six months ended 6/30/2024 6/30/2023 (in millions) Voting Variable interest entities Total Voting Variable interest entities Total Net cash provided by (used in) operating activities $ (111.4) $ (32.2) $ (143.6) $ (77.3) $ (273.4) $ (350.7) Net cash provided by (used in) investing activities (12.4) (0.7) (13.1) (15.5) (2.3) (17.8) Net cash provided by (used in) financing activities 119.5 35.0 154.5 78.2 246.8 325.0 Effect of exchange rate changes on cash and cash equivalents of consolidated sponsored investment products — (1.1) (1.1) — 0.9 0.9 Net change in cash and cash equivalents during period (4.3) 1.0 (3.3) (14.6) (28.0) (42.6) Cash and cash equivalents at beginning of year 25.7 51.5 77.2 16.2 102.9 119.1 Cash and cash equivalents at end of period $ 21.4 $ 52.5 $ 73.9 $ 1.6 $ 74.9 $ 76.5
Schedule of Fair Values of Investments Held by Consolidated T. Rowe Price Investment Portfolios	The following table provides information about the significant Level 3 inputs: Fair value measurements as of June 30, 2024 (in millions) Fair value Valuation techniques Unobservable inputs Interest rate input Other investments $ 41.5 Market Yield (Comparables) Yield 9.4% 6/30/2024 12/31/2023 (in millions) Level 1 Level 2 Level 1 Level 2 Assets Cash equivalents $ 19.9 $ — $ 17.2 $ 8.0 Equity securities 381.4 237.4 365.1 213.6 Fixed income securities — 1,179.8 — 1,241.9 Other investments 2.8 17.8 3.6 22.8 $ 404.1 $ 1,435.0 $ — $ 385.9 $ 1,486.3 Liabilities $ (4.7) $ (10.6) $ (5.1) $ (16.2)

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill and Intangible Assets	Goodwill and intangible assets consist of the following: (in millions) 6/30/2024 12/31/2023 Goodwill $ 2,642.8 $ 2,642.8 Indefinite-lived intangible assets - trade name 104.8 117.1 Indefinite-lived intangible assets - investment advisory agreements 65.6 65.6 Definite-lived intangible assets - investment advisory agreements 271.9 324.6 Total $ 3,085.1 $ 3,150.1
Schedule of Definite-Lived Intangible Assets, Future Amortization Expense	Estimated amortization expense for the definite-lived intangible assets for the five succeeding years is a follows: (in millions) Remaining 2024 $ 42.8 2025 82.2 2026 65.2 2027 45.3 2028 14.3

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Roll Forward of Stock Options	The following table summarizes the status of, and changes in, our stock options during the six months ended June 30, 2024. Options Weighted- average exercise price Outstanding at December 31, 2023 1,476,104 $ 75.39 Exercised (420,387) $ 76.62 Expired (1,768) $ 76.75 Outstanding and exercisable at June 30, 2024 1,053,949 $ 74.90
Schedule of Roll Forward 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 six months ended June 30, 2024. Restricted shares Restricted stock units Weighted-average fair value Nonvested at December 31, 2023 56,740 6,485,253 $ 127.74 Time-based grants 8,970 39,896 $ 111.02 Dividend equivalents granted to non-employee directors — 1,860 $ 118.83 Vested (17,682) (61,026) $ 105.98 Forfeited — (98,941) $ 127.48 Nonvested at June 30, 2024 48,028 6,367,042 $ 127.89
Schedule of 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 June 30, 2024. 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) Third quarter 2024 $ 57.1 Fourth quarter 2024 50.2 2025 118.4 2026 through 2029 87.9 Total $ 313.6

EARNINGS PER SHARE CALCULATIO_2

EARNINGS PER SHARE CALCULATIONS (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share Reconciliation	The following table presents the reconciliation of net income attributable to T. Rowe Price 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 Six months ended (in millions) 6/30/2024 6/30/2023 6/30/2024 6/30/2023 Net income attributable to T. Rowe Price $ 483.4 $ 476.4 $ 1,057.2 $ 897.9 Less: net income allocated to outstanding restricted stock and stock unit holders 12.9 11.6 28.7 22.1 Net income allocated to common stockholders $ 470.5 $ 464.8 $ 1,028.5 $ 875.8 Weighted-average common shares Outstanding 223.0 224.4 223.3 224.4 Outstanding assuming dilution 223.5 225.2 223.8 225.2

OTHER COMPREHENSIVE INCOME AN_2

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity Note [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Loss	The changes in currency translation adjustments included in accumulated other comprehensive loss for the three months ended June 30, 2024 and 2023 are presented in the table below. Three months ended 6/30/2024 Three months ended 6/30/2023 (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 $ (50.9) $ 1.3 $ (49.6) $ (51.4) $ (0.3) $ (51.7) Other comprehensive income (loss) before reclassifications and income taxes (0.6) 1.4 0.8 1.1 3.9 5.0 Net deferred tax benefits (income taxes) — (0.4) (0.4) (0.2) (0.9) (1.1) Other comprehensive income (loss) (0.6) 1.0 0.4 0.9 3.0 3.9 Balances at end of period $ (51.5) $ 2.3 $ (49.2) $ (50.5) $ 2.7 $ (47.8) The changes in each component of accumulated other comprehensive loss for the six months ended June 30, 2024 and 2023, are presented in the table below. Six months ended 6/30/2024 Six months ended 6/30/2023 (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 $ (51.9) $ 4.4 $ (47.5) $ (50.5) $ (2.5) $ (53.0) Other comprehensive income (loss) before reclassifications and income taxes 0.5 (2.6) (2.1) — 6.9 6.9 Net deferred tax benefits (income taxes) (0.1) 0.5 0.4 — (1.7) (1.7) Other comprehensive income (loss) 0.4 (2.1) (1.7) — 5.2 5.2 Balances at end of period $ (51.5) $ 2.3 $ (49.2) $ (50.5) $ 2.7 $ (47.8)

INFORMATION ABOUT RECEIVABLES_3

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES - Investment Advisory Services (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue and Services [Line Items]
Net revenues	$ 1,733.3	$ 1,610.2	$ 3,483.5	$ 3,147.8
Investment advisory fees
Revenue and Services [Line Items]
Net revenues	1,585.6	1,430.8	3,139.6	2,822.6
Investment advisory fees | Assets under management
Revenue and Services [Line Items]
Net revenues	1,534,000	1,357,400	1,509,200	1,340,200
Capital allocation-based income
Revenue and Services [Line Items]
Net revenues	0.1	38.7	47.2	55.6
Administrative, distribution, and servicing fees
Revenue and Services [Line Items]
Net revenues	147.6	140.7	296.7	269.6
Equity | Investment advisory fees | Assets under management
Revenue and Services [Line Items]
Net revenues	790,400	703,400	780,400	695,200
Fixed income, including money market | Investment advisory fees | Assets under management
Revenue and Services [Line Items]
Net revenues	174,800	170,400	172,100	170,000
Multi-asset | Investment advisory fees | Assets under management
Revenue and Services [Line Items]
Net revenues	520,100	439,000	508,600	430,700
Alternatives | Investment advisory fees | Assets under management
Revenue and Services [Line Items]
Net revenues	48,700	44,600	48,100	44,300
Investment advisory fees | Investment advisory fees
Revenue and Services [Line Items]
Net revenues	1,585.6	1,430.8	3,139.6	2,822.6
Investment advisory fees | Equity | Investment advisory fees
Revenue and Services [Line Items]
Net revenues	948.9	862.3	1,898.5	1,696.2
Investment advisory fees | Fixed income, including money market | Investment advisory fees
Revenue and Services [Line Items]
Net revenues	100.2	100	200.8	202.4
Investment advisory fees | Multi-asset | Investment advisory fees
Revenue and Services [Line Items]
Net revenues	444.8	391.3	874.5	777.3
Investment advisory fees | Alternatives | Investment advisory fees
Revenue and Services [Line Items]
Net revenues	$ 91.7	$ 77.2	$ 165.8	$ 146.7

INFORMATION ABOUT RECEIVABLES_4

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Concentration Risk [Line Items]
Net revenues	$ 1,733.3		$ 1,610.2	$ 3,483.5	$ 3,147.8
Accounts receivable	846.9			846.9		$ 807.9
Sponsored investment portfolios
Concentration Risk [Line Items]
Net revenues	1,429.4		$ 1,324.4	2,873	$ 2,592.4
Accounts receivable	$ 577.3			$ 577.3		$ 533.9
Investment advisory fees | Assets under management | Geographic concentration | Outside U.S.
Concentration Risk [Line Items]
Concentration risk	8.60%	8.50%				8.60%

INVESTMENTS - Carrying Value of

INVESTMENTS - Carrying Value of Investments (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]
Investment, Type [Extensible Enumeration]	Certificates of Deposit [Member]	Certificates of Deposit [Member]
Held to maturity	$ 29.6	$ 23.3
Total	2,758.9	2,554.7
U.S. Treasury note
Schedule of Equity Method Investments [Line Items]
Held to maturity	1	1
Discretionary investments
Schedule of Equity Method Investments [Line Items]
Investments held at fair value	245.9	246.4
Equity method investments	40.4	5.3
Seed capital
Schedule of Equity Method Investments [Line Items]
Investments held at fair value	260.3	247.8
Equity method investments	136.9	91.1
Supplemental savings plan liability economic hedges
Schedule of Equity Method Investments [Line Items]
Investments held at fair value	852	806.6
Equity method investments	40.6	21
Investment partnerships and other investments
Schedule of Equity Method Investments [Line Items]
Investments held at fair value	108	69.7
Investments in affiliated collateralized loan obligations
Schedule of Equity Method Investments [Line Items]
Investments held at fair value	7.6	8.4
Held to maturity	$ 81.8	$ 94.1
23% Investment in UTI Asset Management Company Limited (India)
Schedule of Equity Method Investments [Line Items]
Equity method investment (ownership percentage)	23%	23%
Equity method investments	$ 175.1	$ 164.5
Investments in affiliated private investment funds - carried interest
Schedule of Equity Method Investments [Line Items]
Equity method investments	497.3	519.9
Investments in affiliated private investment funds - seed/co-investment
Schedule of Equity Method Investments [Line Items]
Equity method investments	280.5	253.4
Investments in partnerships and other investments
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 1.9	$ 2.2

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details) € in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)
Debt and Equity Securities, FV-NI [Line Items]
Net unrealized (loss) gain on T. Rowe Price investments product recognized in nonoperating income	$ 20	$ 28.3	$ 85	$ 75
Investments in affiliated collateralized loan obligations
Debt and Equity Securities, FV-NI [Line Items]
Debt assumed	77.2		77.2			$ 89.4
Secured debt, repurchase agreements	65.5		65.5		€ 61.1	72.3	€ 61.1
Secured debt	$ 11.7		$ 11.7		€ 10.9	$ 17.1	€ 10.9
Investments in affiliated collateralized loan obligations | Minimum
Debt and Equity Securities, FV-NI [Line Items]
Investment interest rate	1.15%		1.15%		1.15%
Investments in affiliated collateralized loan obligations | Maximum
Debt and Equity Securities, FV-NI [Line Items]
Investment interest rate	12.77%		12.77%		12.77%

INVESTMENTS - Deconsolidation I

INVESTMENTS - Deconsolidation Impacts on Financial Statements (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Net increase (decrease) in assets of consolidated sponsored investment products	$ (236.4)	$ (79)	$ (271.8)	$ (81.4)
Net increase (decrease) in liabilities of consolidated sponsored investment products	(4.9)	(33)	(4.9)	(33.1)
Net increase (decrease) in redeemable non-controlling interests	$ (68.1)	$ 5.9	$ (96.2)	$ 5.9

INVESTMENTS - Variable Interest

INVESTMENTS - Variable Interest Entities (Details) - Variable interest entity, not primary beneficiary - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Investment carrying values	$ 877.3	$ 919.3
Unfunded capital commitments	81.4	94.1
Accounts receivable	74.8	92.1
Maximum risk of loss related to nonconsolidated variable interest entities	$ 1,033.5	$ 1,105.5

INVESTMENTS - Variable Intere_2

INVESTMENTS - Variable Interest Entities Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Variable interest entity, not primary beneficiary
Variable Interest Entity [Line Items]
Unfunded capital commitments	$ 81.4	$ 94.1

INVESTMENTS - Total Assets, Lia

INVESTMENTS - Total Assets, Liabilities and Non-controlling Interests (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Subsidiary or Equity Method Investee [Line Items]
Assets	$ 13,089.8	$ 12,278.8
Liabilities	2,266.8	1,987.6
Non-controlling interest	205.3	192
Variable interest entities
Subsidiary or Equity Method Investee [Line Items]
Assets	561.2	564.7
Liabilities	$ 0.2	$ 1.9

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of Fair Value Measurements (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability	$ 13.4	$ 13.4
Discretionary investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products	245.9	246.4
Seed capital
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products	260.3	247.8
Supplemental savings plan liability economic hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products	852	806.6
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	2,371.1	1,678.1
Other investments	0.1	0.7
Investments in affiliated collateralized loan obligations	0	0
Total	3,690	2,937.8
Contingent consideration liability	0	0
Level 1 | Fair value, measurements, recurring | Discretionary investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products	245.9	246.4
Level 1 | Fair value, measurements, recurring | Seed capital
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products	220.9	206
Level 1 | Fair value, measurements, recurring | Supplemental savings plan liability economic hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products	852	806.6
Level 2 | Fair value, measurements, recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents held in money market funds	0	0
Other investments	0	0
Investments in affiliated collateralized loan obligations	7.6	8.4
Total	47	50.2
Contingent consideration liability	0	0
Level 2 | Fair value, measurements, recurring | Discretionary investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products	0	0
Level 2 | Fair value, measurements, recurring | Seed capital
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products	39.4	41.8
Level 2 | Fair value, measurements, recurring | Supplemental savings plan liability economic hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products	0	0
Level 3 | Fair value, measurements, recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents held in money market funds	0	0
Other investments	41.5	0
Investments in affiliated collateralized loan obligations	0	0
Total	41.5	0
Contingent consideration liability	$ 13.4	13.4
Measurement input	9.40%
Level 3 | Fair value, measurements, recurring | Discretionary investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products	$ 0	0
Level 3 | Fair value, measurements, recurring | Seed capital
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products	0	0
Level 3 | Fair value, measurements, recurring | Supplemental savings plan liability economic hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) $ in Millions	1 Months Ended
	Dec. 31, 2021	Jun. 30, 2024	Dec. 31, 2023
OHA Acquisition
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, maximum earnout payment	$ 900
Extended earnout payment period	2 years
Earnout 30% threshold	22%
Incentive payment, percentage	10%
Fair value measured at NAV
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments held at fair value		$ 66.4	$ 69

FAIR VALUE MEASUREMENTS - Sch_2

FAIR VALUE MEASUREMENTS - Schedule of Change in Contingent Consideration Liability (Details) - Level 3 - Fair value, measurements, recurring - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 13.4	$ 46.2	$ 13.4	$ 95.8
Unrealized gains, included in earnings	0	(23.2)	0	(72.8)
Ending balance	$ 13.4	$ 23	$ 13.4	$ 23

CONSOLIDATED SPONSORED INVEST_3

CONSOLIDATED SPONSORED INVESTMENT PRODUCTS - Net Assets (Details) - USD ($) $ in Millions	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	$ 2,714.9		$ 2,066.6
Investments	2,758.9		2,554.7
Other assets	640.5		692.5
Total assets	13,089.8		12,278.8
Liabilities	2,266.8		1,987.6
Attributable to redeemable non-controlling interests	689	$ 676.7	594.1	$ 985.2	$ 834.1	$ 656.7
Consolidated T. Rowe Price investment products
Condensed Balance Sheet Statements, Captions [Line Items]
Attributable to T. Rowe Price Group	1,175.5		1,311
Attributable to redeemable non-controlling interests			594.1
Voting interest entities
Condensed Balance Sheet Statements, Captions [Line Items]
Attributable to T. Rowe Price Group	461.4		589.9
Attributable to redeemable non-controlling interests	219.9		146
Variable interest entities
Condensed Balance Sheet Statements, Captions [Line Items]
Total assets	561.2		564.7
Liabilities	0.2		1.9
Attributable to T. Rowe Price Group	714.1		721.1
Attributable to redeemable non-controlling interests	469.1		448.1
Reportable entities | Consolidated T. Rowe Price investment products
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	73.9		77.2
Investments	1,819.2		1,847
Other assets	36.5		35.1
Total assets	1,929.6		1,959.3
Liabilities	65.1		54.2
Net assets	1,864.5		1,905.1
Reportable entities | Consolidated T. Rowe Price investment products | T. Rowe Price investment products
Condensed Balance Sheet Statements, Captions [Line Items]
Investments	6.2		6.2
Reportable entities | Consolidated T. Rowe Price investment products | Money Market Funds | T. Rowe Price investment products
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	17.8		16.2
Reportable entities | Voting interest entities
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	21.4		25.7
Investments	674.5		718
Other assets	21.8		11.2
Total assets	717.7		754.9
Liabilities	36.4		19
Net assets	681.3		735.9
Reportable entities | Variable interest entities
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	52.5		51.5
Investments	1,144.7		1,129
Other assets	14.7		23.9
Total assets	1,211.9		1,204.4
Liabilities	28.7		35.2
Net assets	$ 1,183.2		$ 1,169.2

CONSOLIDATED SPONSORED INVEST_4

CONSOLIDATED SPONSORED INVESTMENT PRODUCTS - Operating Results (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Condensed Income Statements, Captions [Line Items]
Operating expenses reflected in net operating income	$ (1,168.6)	$ (1,076.7)	$ (2,332.2)	$ (2,130.1)
Income before income taxes	645	639.7	1,420.5	1,259.3
Net income (loss) attributable to redeemable non-controlling interests	1.9	4.8	21.5	25
Consolidated T. Rowe Price investment products
Condensed Income Statements, Captions [Line Items]
Income before income taxes	5.9	20.6	75.9	62.4
Net income (loss) attributable to T. Rowe Price Group	4	15.8	54.4	37.4
Net income (loss) attributable to redeemable non-controlling interests	1.9	4.8	21.5	25
Consolidated T. Rowe Price investment products | Reportable entities
Condensed Income Statements, Captions [Line Items]
Operating expenses reflected in net operating income	(2.6)	(3.4)	(4.9)	(7.4)
Net investment income (loss) reflected in non-operating income (loss)	8.5	24	80.8	69.8
Income before income taxes	5.9	20.6	75.9	62.4
Voting interest entities
Condensed Income Statements, Captions [Line Items]
Income before income taxes	(4.4)	5	28.2	10.2
Net income (loss) attributable to T. Rowe Price Group	(3)	4.4	22.8	8.1
Net income (loss) attributable to redeemable non-controlling interests	(1.4)	0.6	5.4	2.1
Voting interest entities | Reportable entities
Condensed Income Statements, Captions [Line Items]
Operating expenses reflected in net operating income	(0.7)	(0.8)	(1.5)	(2.5)
Net investment income (loss) reflected in non-operating income (loss)	(3.7)	5.8	29.7	12.7
Income before income taxes	(4.4)	5	28.2	10.2
Variable interest entities
Condensed Income Statements, Captions [Line Items]
Income before income taxes	10.3	15.6	47.7	52.2
Net income (loss) attributable to T. Rowe Price Group	7	11.4	31.6	29.3
Net income (loss) attributable to redeemable non-controlling interests	3.3	4.2	16.1	22.9
Variable interest entities | Reportable entities
Condensed Income Statements, Captions [Line Items]
Operating expenses reflected in net operating income	(1.9)	(2.6)	(3.4)	(4.9)
Net investment income (loss) reflected in non-operating income (loss)	12.2	18.2	51.1	57.1
Income before income taxes	$ 10.3	$ 15.6	$ 47.7	$ 52.2

CONSOLIDATED SPONSORED INVEST_5

CONSOLIDATED SPONSORED INVESTMENT PRODUCTS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Condensed Income Statements, Captions [Line Items]
Operating expenses	$ 1,168.6	$ 1,076.7	$ 2,332.2	$ 2,130.1
Net cash provided by (used in) financing activities			(575.5)	(320)
Consolidation eliminations
Condensed Income Statements, Captions [Line Items]
Operating expenses	$ 0.5	$ 0.3	1.7	0.9
Net cash provided by (used in) financing activities			$ 16.4	$ (41.6)

CONSOLIDATED SPONSORED INVEST_6

CONSOLIDATED SPONSORED INVESTMENT PRODUCTS - Statement of Cash Flows (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ 1,315	$ 906.5
Net cash provided by (used in) investing activities	(93.4)	(135.9)
Net cash provided by (used in) financing activities	(575.5)	(320)
Effect of exchange rate changes on cash and cash equivalents of consolidated sponsored investment products	(1.1)	0.9
Net change in cash and cash equivalents during period	645	451.5
Cash and cash equivalents at beginning of period, including $77.2 million at December 31, 2023, and $119.1 million at December 31, 2022, held by consolidated sponsored investment products	2,143.8	1,874.7
Cash and cash equivalents at end of period, including $73.9 million at June 30, 2024, and $76.5 million at June 30, 2023, held by consolidated sponsored investment products	2,788.8	2,326.2
Consolidated T. Rowe Price investment products
Condensed Cash Flow Statements, Captions [Line Items]
Cash and cash equivalents at beginning of period, including $77.2 million at December 31, 2023, and $119.1 million at December 31, 2022, held by consolidated sponsored investment products	77.2	119.1
Cash and cash equivalents at end of period, including $73.9 million at June 30, 2024, and $76.5 million at June 30, 2023, held by consolidated sponsored investment products	73.9	76.5
Reportable entities | Consolidated T. Rowe Price investment products
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(143.6)	(350.7)
Net cash provided by (used in) investing activities	(13.1)	(17.8)
Net cash provided by (used in) financing activities	154.5	325
Effect of exchange rate changes on cash and cash equivalents of consolidated sponsored investment products	(1.1)	0.9
Net change in cash and cash equivalents during period	(3.3)	(42.6)
Cash and cash equivalents at beginning of period, including $77.2 million at December 31, 2023, and $119.1 million at December 31, 2022, held by consolidated sponsored investment products	77.2	119.1
Cash and cash equivalents at end of period, including $73.9 million at June 30, 2024, and $76.5 million at June 30, 2023, held by consolidated sponsored investment products	73.9	76.5
Reportable entities | Voting interest entities
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(111.4)	(77.3)
Net cash provided by (used in) investing activities	(12.4)	(15.5)
Net cash provided by (used in) financing activities	119.5	78.2
Effect of exchange rate changes on cash and cash equivalents of consolidated sponsored investment products	0	0
Net change in cash and cash equivalents during period	(4.3)	(14.6)
Cash and cash equivalents at beginning of period, including $77.2 million at December 31, 2023, and $119.1 million at December 31, 2022, held by consolidated sponsored investment products	25.7	16.2
Cash and cash equivalents at end of period, including $73.9 million at June 30, 2024, and $76.5 million at June 30, 2023, held by consolidated sponsored investment products	21.4	1.6
Reportable entities | Variable interest entities
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(32.2)	(273.4)
Net cash provided by (used in) investing activities	(0.7)	(2.3)
Net cash provided by (used in) financing activities	35	246.8
Effect of exchange rate changes on cash and cash equivalents of consolidated sponsored investment products	(1.1)	0.9
Net change in cash and cash equivalents during period	1	(28)
Cash and cash equivalents at beginning of period, including $77.2 million at December 31, 2023, and $119.1 million at December 31, 2022, held by consolidated sponsored investment products	51.5	102.9
Cash and cash equivalents at end of period, including $73.9 million at June 30, 2024, and $76.5 million at June 30, 2023, held by consolidated sponsored investment products	$ 52.5	$ 74.9

CONSOLIDATED SPONSORED INVEST_7

CONSOLIDATED SPONSORED INVESTMENT PRODUCTS - Fair Value Measurements (Details) - Fair value, measurements, recurring - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 2,371.1	$ 1,678.1
Other investments	0.1	0.7
Total	3,690	2,937.8
Level 1 | Consolidated T. Rowe Price investment products
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	19.9	17.2
Equity securities	381.4	365.1
Fixed income securities	0	0
Other investments	2.8	3.6
Total	404.1	385.9
Liabilities	(4.7)	(5.1)
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Other investments	0	0
Total	47	50.2
Level 2 | Consolidated T. Rowe Price investment products
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	8
Equity securities	237.4	213.6
Fixed income securities	1,179.8	1,241.9
Other investments	17.8	22.8
Total	1,435	1,486.3
Liabilities	$ (10.6)	$ (16.2)

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 2,642.8	$ 2,642.8
Total	3,085.1	3,150.1
Trade Name
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	104.8	117.1
Investment Advisory Agreements
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	65.6	65.6
Investment Advisory Agreements
Finite-Lived Intangible Assets [Line Items]
Definite-lived intangible assets - investment advisory agreements	$ 271.9	$ 324.6

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Acquisition-related amortization and impairment costs	$ 27.2	$ 26.4	$ 52.7	$ 52.4
Trade Name
Indefinite-lived Intangible Assets [Line Items]
Impairment charge			$ 12.3

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Schedule of Definite-Lived Intangible Assets, Future Amortization Expense (Details) - Investment Advisory Agreements $ in Millions	Jun. 30, 2024 USD ($)
Finite-Lived Intangible Assets [Line Items]
Remaining 2024	$ 42.8
2025	82.2
2026	65.2
2027	45.3
2028	$ 14.3

STOCK-BASED COMPENSATION - Stoc

STOCK-BASED COMPENSATION - Stock Options (Details) - $ / shares	6 Months Ended
	Jun. 30, 2024
Options
Outstanding, beginning balance (in shares)	1,476,104
Exercised (in shares)	(420,387)
Expired (in shares)	(1,768)
Outstanding, ending balance (in shares)	1,053,949
Exercisable (in shares)	1,053,949
Weighted- average exercise price
Outstanding, beginning balance (in dollars per share)	$ 75.39
Exercised (in dollars per share)	76.62
Expired (in dollars per share)	76.75
Outstanding, ending balance (in dollars per share)	74.90
Exercisable (in dollars per share)	$ 74.90

STOCK-BASED COMPENSATION - Rest

STOCK-BASED COMPENSATION - Restricted Shares and Stock Units (Details)	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Weighted-average fair value
Nonvested, beginning balance (in dollars per share) | $ / shares	$ 127.74
Time-based grants (in dollars per share) | $ / shares	111.02
Dividend equivalents granted to non-employee directors (in dollars per share) | $ / shares	118.83
Vested (in dollars per share) | $ / shares	105.98
Forfeited (in dollars per share) | $ / shares	127.48
Nonvested, ending balance (in dollars per share) | $ / shares	$ 127.89
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)	56,740
Time-based grants (in shares)	8,970
Dividend equivalents granted to non-employee directors (in shares)	0
Vested (in shares)	(17,682)
Forfeited (in shares)	0
Nonvested, ending balance (in shares)	48,028
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)	6,485,253
Time-based grants (in shares)	39,896
Dividend equivalents granted to non-employee directors (in shares)	1,860
Vested (in shares)	(61,026)
Forfeited (in shares)	(98,941)
Nonvested, ending balance (in shares)	6,367,042

STOCK-BASED COMPENSATION - Re_2

STOCK-BASED COMPENSATION - Restricted Shares and Stock Units Narrative (Details) - Restricted stock units - shares	Jun. 30, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested, equity instruments other than options	6,367,042	6,485,253
Performance-based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested, equity instruments other than options	334,548
Nonvested shares where performance threshold has been met (in shares)	108,775

STOCK-BASED COMPENSATION - Futu

STOCK-BASED COMPENSATION - Future Stock-Based Compensation Expense (Details) $ in Millions	Jun. 30, 2024 USD ($)
Share-Based Payment Arrangement [Abstract]
Third quarter 2024	$ 57.1
Fourth quarter 2024	50.2
2025	118.4
2026 through 2029	87.9
Total	$ 313.6

EARNINGS PER SHARE CALCULATIO_3

EARNINGS PER SHARE CALCULATIONS (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Stock options with anti-diluted impact (in shares)			0	0
Net income attributable to T. Rowe Price	$ 483.4	$ 476.4	$ 1,057.2	$ 897.9
Less: net income allocated to outstanding restricted stock and stock unit holders (basic)	12.9	11.6	28.7	22.1
Less: net income allocated to outstanding restricted stock and stock unit holders (diluted)	12.9	11.6	28.7	22.1
Net income allocated to common stockholders (basic)	470.5	464.8	1,028.5	875.8
Net income allocated to common stockholders (diluted)	$ 470.5	$ 464.8	$ 1,028.5	$ 875.8
Weighted-average common shares
Outstanding (in shares)	223,000,000	224,400,000	223,300,000	224,400,000
Outstanding assuming dilution (in shares)	223,500,000	225,200,000	223,800,000	225,200,000

OTHER COMPREHENSIVE INCOME AN_3

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances at beginning of period	$ 9,989.5	$ 9,239.8	$ 9,697.1	$ 9,030.2
Total other comprehensive income (loss)	0.8	9.4	(2.9)	16.8
Balances at end of period	10,134	9,465.9	10,134	9,465.9
Consolidated T. Rowe Price investment products - variable interest entities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net deferred tax (expense) benefits	(0.4)	(1.2)	0.4	(1.8)
Currency translation adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances at beginning of period	(49.6)	(51.7)	(47.5)	(53)
Other comprehensive income (loss) before reclassifications and income taxes	0.8	5	(2.1)	6.9
Net deferred tax (expense) benefits	(0.4)	(1.1)	0.4	(1.7)
Total other comprehensive income (loss)	0.4	3.9	(1.7)	5.2
Balances at end of period	(49.2)	(47.8)	(49.2)	(47.8)
Currency translation adjustments | Equity method investments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances at beginning of period	(50.9)	(51.4)	(51.9)	(50.5)
Other comprehensive income (loss) before reclassifications and income taxes	(0.6)	1.1	0.5	0
Net deferred tax (expense) benefits	0	(0.2)	(0.1)	0
Total other comprehensive income (loss)	(0.6)	0.9	0.4	0
Balances at end of period	(51.5)	(50.5)	(51.5)	(50.5)
Currency translation adjustments | Consolidated T. Rowe Price investment products - variable interest entities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances at beginning of period	1.3	(0.3)	4.4	(2.5)
Other comprehensive income (loss) before reclassifications and income taxes	1.4	3.9	(2.6)	6.9
Net deferred tax (expense) benefits	(0.4)	(0.9)	0.5	(1.7)
Total other comprehensive income (loss)	1	3	(2.1)	5.2
Balances at end of period	$ 2.3	$ 2.7	$ 2.3	$ 2.7

OTHER COMPREHENSIVE INCOME AN_4

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Other comprehensive income (loss), net of tax, attributable to redeemable non-controlling interests	$ 0.4	$ 5.5	$ (1.2)	$ 11.6

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Jun. 30, 2024 USD ($)
OHA Commitments
Other Commitments [Line Items]
Investment commitment, amount	$ 360