INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES.

12 Months Ended

Dec. 31, 2019

Information about Receivables, Revenues, and Services [Abstract]

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES.

Revenues earned during the years ended December 31, 2019, 2018 and 2017 under agreements with clients include:



	2019
	Administrative, distribution, and servicing fees
(in millions)	Investment advisory fees		Administrative fees		Distribution and servicing fees		Net revenues
U.S. mutual funds	$	3,452.5	$	281.8	$	120.0	$	3,854.3
Subadvised and separate accounts and other investment products	1,660.0		—		—		1,660.0
Other clients	—		103.6		—		103.6
	$	5,112.5	$	385.4	$	120.0	$	5,617.9

	2018
	Administrative, distribution, and servicing fees
(in millions)	Investment advisory fees		Administrative fees		Distribution and servicing fees		Net revenues
U.S. mutual funds	$	3,375.0	$	302.2	$	138.0	$	3,815.2
Subadvised and separate accounts and other investment products	1,475.6		—		—		1,475.6
Other clients	—		81.8		—		81.8
	$	4,850.6	$	384.0	$	138.0	$	5,372.6

	2017
	Administrative, distribution, and servicing fees
(in millions)	Investment Advisory Fees		Administrative Fees		Distribution and servicing fees		Net Revenues
U.S. mutual funds	$	3,080.0	$	333.6	$	147.0	$	3,560.6
Subadvised and separate accounts and other investment products	1,215.8		—		—		1,215.8
Other clients	—		78.5		—		78.5
	$	4,295.8	$	412.1	$	147.0	$	4,854.9

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



(in millions)	2019		2018		2017
U.S. mutual funds
Equity and blended assets	$	2,952.2	$	2,858.1	$	2,571.7
Fixed income, including money market	500.3		516.9		508.3
	3,452.5		3,375.0		3,080.0
Subadvised and separate accounts and other investment products
Equity and blended assets	1,405.0		1,236.8		1,009.4
Fixed income, including money market	255.0		238.8		206.4
	1,660.0		1,475.6		1,215.8
Total	$	5,112.5	$	4,850.6	$	4,295.8

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



(in billions)	Average during						As of December 31,
	2019		2018		2017		2019		2018
U.S. mutual funds
Equity and blended assets	$	513.6	$	493.6	$	447.5	$	552.4	$	441.1
Fixed income, including money market	126.8		128.2		121.0		130.3		123.4
	640.4		621.8		568.5		682.7		564.5
Subadvised and separate accounts and other investment products
Equity and blended assets	362.5		317.3		256.4		412.1		299.2
Fixed income, including money market	106.4		97.4		84.1		112.0		98.6
	468.9		414.7		340.5		524.1		397.8
Total	$	1,109.3	$	1,036.5	$	909.0	$	1,206.8	$	962.3

Investors that we serve are primarily domiciled in the U.S.; investment advisory clients outside the U.S. account for about 6.9% and 6.2% of our assets under management at December 31, 2019 and 2018, respectively.

Total net revenues earned from T. Rowe Price investment products totaled $4,626.3 million in 2019, $4,453.6 million in 2018, and $4,038.8 million in 2017. Accounts receivable from these products aggregate to $424.8 million at December 31, 2019 and $354.8 million at December 31, 2018.