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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities    
Net income $ 1,109.9 $ 915.1
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Depreciation and amortization of property and equipment 86.0 74.7
Stock-based compensation expense 90.7 90.8
Net gains recognized on investments (124.4) (5.4)
Net investments in T. Rowe Price investment products used to economically hedge supplemental savings plan liability (19.3) (13.7)
Net change in securities held by consolidated T. Rowe Price investment products (444.0) (407.1)
Other changes in assets and liabilities 249.9 274.9
Net cash provided by operating activities 948.8 929.3
Cash flows from investing activities    
Purchases of T. Rowe Price investment products (34.9) (1,110.2)
Dispositions of T. Rowe Price investment products 103.8 259.3
Net cash of T. Rowe Price investment products on consolidation (deconsolidation) (5.1) (21.7)
Additions to property and equipment (94.5) (78.6)
Other investing activity 1.6 7.2
Net cash used in investing activities (29.1) (944.0)
Cash flows from financing activities    
Repurchases of common stock (402.8) (450.3)
Common share issuances under stock-based compensation plans 78.8 92.8
Dividends paid to common stockholders of T. Rowe Price Group (367.8) (348.7)
Net subscriptions received from redeemable non-controlling interest holders 190.3 318.0
Net cash used in financing activities (501.5) (388.2)
Effect of exchange rate changes on cash and cash equivalents of consolidated T. Rowe Price investment products (0.4) (6.6)
Net change in cash and cash equivalents during period 417.8 (409.5)
Cash and cash equivalents at beginning of period 1,495.3 2,005.8
Cash and cash equivalents at end of period $ 1,913.1 $ 1,596.3