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SUPPLEMENTARY QUARTERLY FINANCIAL DATA (Unaudited).
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
SUPPLEMENTARY QUARTERLY FINANCIAL DATA (Unaudited) SUPPLEMENTARY QUARTERLY FINANCIAL DATA (Unaudited).
 
Net revenues
 
Net income(1)(2)(3)
 
Net income attributable to
T. Rowe Price Group(1)(2)(3)
 
Basic earnings on common stock(1)(2)(3)(4)
 
Diluted earnings on common stock(1)(2)(3)(4)
 
(in millions)
 
(per share)
2019
 
 
 
 
 
 
 
 
 
1st quarter
$
1,327.3

 
$
554.0

 
$
512.6

 
$
2.11

 
$
2.09

2nd quarter
$
1,395.2

 
$
555.9

 
$
527.5

 
$
2.18

 
$
2.15

3rd quarter
$
1,426.7

 
$
545.1

 
$
545.9

 
$
2.26

 
$
2.23

4th quarter
$
1,468.7

 
$
593.9

 
$
545.3

 
$
2.27

 
$
2.24

 
 
 
 
 
 
 
 
 
 
2018
 
 
 
 
 
 
 
 
 
1st quarter
$
1,328.0

 
$
455.5

 
$
453.7

 
$
1.81

 
$
1.77

2nd quarter
$
1,345.0

 
$
459.6

 
$
448.9

 
$
1.81

 
$
1.77

3rd quarter
$
1,394.6

 
$
581.6

 
$
583.0

 
$
2.34

 
$
2.30

4th quarter
$
1,305.0

 
$
272.0

 
$
351.9

 
$
1.43

 
$
1.41



(1)During the fourth quarter of 2018, we recognized a $15.2 million reduction in operating expenses, or $0.05, in diluted earnings per share, upon recovering a portion of the payments we made to our clients in 2016. For more details related to the Dell appraisal rights matter, see Note 14 to the consolidated financial statements.

(2)During the second quarter of 2018 we recognized a nonrecurring charge of 20.8 million, or $0.08 in diluted earnings per share related to the U.S. tax law changes that were enacted on December 22, 2017, and a nonrecurring charge of $7.9 million, or $.03 in diluted earnings per share for the remeasurement of our deferred tax assets and liabilities to reflect the effect of Maryland state tax legislation enacted on April 24, 2018. See Note 9 to the consolidated financial statements for further details.

(3)During the third quarter of 2018, we recognized a realized gain of $.27 in diluted earnings per share from the sale of our 10% holding in Daiwa SB Investments Ltd.

(4)The sums of quarterly earnings per share may not equal annual earnings per share because the computations are done independently.