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INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Tables)

3 Months Ended

Mar. 31, 2019

Information about Receivables, Revenues, and Services [Abstract]

Components of revenues from advisory services

Revenues earned during the first quarter of 2019 and 2018 under agreements with clients include:

	Three months ended 3/31/2019																Three months ended 3/31/2018
					Administrative, distribution, and servicing fees																Administrative, distribution, and servicing fees
(in millions)	Investment advisory fees				Administrative fees				Distribution and servicing fees				Net revenues				Investment advisory fees				Administrative fees				Distribution and servicing fees				Net revenues
U.S. mutual funds	$	815.9			$	76.6			$	30.2			$	922.7			$	832.9			$	81.8			$	36.6			$	951.3
Subadvised and separate accounts and other investment products	378.3				—				—				378.3				356.3				—				—				356.3
Other clients	—				26.3				—				26.3				—				20.4				—				20.4
	$	1,194.2			$	102.9			$	30.2			$	1,327.3			$	1,189.2			$	102.2			$	36.6			$	1,328.0

Total net revenues earned from our related parties, specifically T. Rowe Price investment products, aggregate $1,093.4 and $1,100.6 million for the three months ended March 31, 2019 and 2018, respectively. Accounts receivable from these products aggregate to $391.3 million at March 31, 2019, and $354.8 million at December 31, 2018.

The following table details the investment advisory fees earned from clients by their underlying asset class.

	Three months ended
(in millions)	3/31/2019				3/31/2018
U.S. mutual funds
Equity and blended assets	$	694.5			$	705.5
Fixed income, including money market	121.4				127.4
	815.9				832.9
Subadvised and separate accounts and other investment products
Equity and blended assets	318.8				297.0
Fixed income, including money market	59.5				59.3
	378.3				356.3
Total	$	1,194.2			$	1,189.2

Components of assets under management

The following table summarizes the assets under management on which we earn investment advisory fees.

	Average during
	Three months ended								As of
(in billions)	3/31/2019				3/31/2018				3/31/2019				12/31/2018
U.S. mutual funds
Equity and blended assets	$	487.6			$	494.6			$	506.6			$	441.1
Fixed income, including money market	122.5				127.4				124.1				123.4
	610.1				622.0				630.7				564.5
Subadvised and separate accounts and other investment products
Equity and blended assets	332.9				308.2				347.9				299.2
Fixed income, including money market	100.5				95.3				103.1				98.6
	433.4				403.5				451.0				397.8
Total	$	1,043.5			$	1,025.5			$	1,081.7			$	962.3

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- Definition

Tabular disclosure of the components of average assets under management and period end assets under management. Assets under management represents the market value of assets an investment adviser manages on behalf of investors and is the basis for determining investment advisory fee revenue.

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Tabular disclosure of the components of revenue recognized in the period for schedule-based fees earned for management of mutual funds based on average daily net assets and other investment management and advisory fees earned on other client portfolios based on asset valuations.

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Information about Receivables, Revenues, and Services

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