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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues      
Net revenues $ 5,617.9 $ 5,372.6 $ 4,854.9
Operating expenses      
Compensation and related costs 1,969.2 1,808.6 1,664.9
Distribution and servicing costs 262.5 281.2 262.6
Advertising and promotion 96.8 99.6 92.4
Product-related costs 153.2 157.1 146.0
Technology, occupancy, and facility costs 427.3 383.9 350.5
General, administrative, and other 321.9 296.0 279.7
Nonrecurring recoveries related to Dell appraisal rights matter 0.0 (15.2) (50.0)
Total operating expenses 3,230.9 3,011.2 2,746.1
Net operating income 2,387.0 2,361.4 2,108.8
Non-operating income      
Net gains on investments 260.4 119.2 198.3
Net gains (losses) on consolidated investment products 272.9 (92.9) 193.9
Other income (loss) 7.0 (3.1) 4.1
Total non-operating income 540.3 23.2 396.3
Income before income taxes 2,927.3 2,384.6 2,505.1
Provision for income taxes 678.4 615.9 923.9
Net income 2,248.9 1,768.7 1,581.2
Less: net income (loss) attributable to redeemable non-controlling interests 117.6 (68.8) 83.4
Net income attributable to T. Rowe Price Group $ 2,131.3 $ 1,837.5 $ 1,497.8
Earnings per share on common stock of T. Rowe Price Group      
Basic (in dollars per share) $ 8.82 $ 7.41 $ 6.07
Diluted (in dollars per share) $ 8.70 $ 7.27 $ 5.97
Investment advisory fees      
Revenues      
Net revenues $ 5,112.5 $ 4,850.6 $ 4,295.8
Administrative, distribution, and servicing fees      
Revenues      
Net revenues $ 505.4 $ 522.0 $ 559.1